How do I choose the right company? Where will I be most successful and where do I get those tools for success? What is important to know before making this important decision?
You may not even know where to begin.
Below are the best questions to ask your prospective broker. They will aid you in making the right decision. Print this list and take it along to your interview.
Are all agents at your company treated equal and have the same potential for earnings?
Does the broker or manager of your office sell real estate as well and compete with your agents for listings and sales?
What type of training does your company provide? Is there specific training for new agents, for experienced agents and for top agents?
How often is training available and is there a cost associated with it? Who is responsible for developing the training curriculum?
Does your company have a vision statement and what is it?
Who makes decisions within your company that will affect how your company is run? Do agents have a say-so in these decisions? Do you have a leadership group of agents within the company that works with management to make these decisions?
Do you allow your associates access to view the financial statements from your company?
What is your company’s value proposition?
What types of tools has your company developed to assist your agents achieving whatever level of success the agent desires?
What amount will I pay to the company from my sales? Does your company have franchise fees and what is the amount? Is there a cap on these fees?
Does your company offer a “true” 100% commission plan or will I be paying fees to the company forever? If you offer a 100% commission plan, do I pay a monthly fee to get to 100% or do I pay only when I make a sale?
Do some of the agents in your company have better “deals” than others?
Does your company charge a fee for each transaction? If yes, how much?
How does your company view teams? Do you encourage and assist your associates that want to build teams? If I have a team, can I open my own off-site office? How would that work and what are the requirements?
Does your company advertise locally or nationally? If yes, why? If no, why not?
Does all relocation and referral business go directly to the agent for a typical referral fee to the source, or does your company “sell” that lead to the agent for an additional fee or a reduced split?
How is a call coming into the office on one of my listings treated? Is that call sent back to me or is it answered by an agent on call?
Can I advertise my own phone number on all of my “For Sale” signs, flyers, marketing materials, website and ads?
Do you encourage and teach your agents to “brand” their own business, or do you believe in promoting the company brand only?
Would I get my own personal website or just a web page on your company website? What is the cost?
If I choose your company and for some reason things do not work out, and I want to move to another company, would my listings belong to me and my new company or would they have to remain with your company?
If I did move to another company, would my “split” on “pending” sales remain the same or would my “split” be decreased on these sales?
Will you show me the section in your independent contractor agreement that covers these?
Do you have a system that rewards me for helping grow the company and increasing profitability? Tell me in detail how that system works.
Does your company have a charitable foundation set up to contribute to community needs on a local or national level? How about needs of agents in your local office?
What is your policy for hiring agents from other companies? Do you determine if these agents would be a good fit for your company?
How many offices do you have:? Are they individually owned & operated?