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You are here: Home / Online Real Estate Course / How do I choose the right Real Estate or Mortgage Broker company for me?

How do I choose the right Real Estate or Mortgage Broker company for me?

 

Let me count the ways……..

The 1st thing you should know is they are NOT created equal.

The 2nd thing you should know is the company is only as good as the people running it!  Anyone with some cash and hopefully experience can purchase a franchise.  This is not to demean any company, rather to have you understand the difference between a company that is run successfully and one that is not is determined by who is running it and how.

You want to ensure you meet the managers. Set up appointments at 4 or 5 companies and actually go in and meet the manager.  Ask him or her pertinent questions like, how many people work here?  What is the average wage people are making?  Are you available to help me when I am first learning?  Is there a training program?  If so what does it look like? Be careful  here.  Ask what exactly is the training program, who teaches it, it is hands on or just theory.  You need practical hands on training to not only tell you but show you how to handle objectives, negotiate the offers and your commission.

Do your homework, check out the companies, so when you choose the company to work for, you will know all about the others.  When you are not making the money you want, if you didn’t check the other companies out, you will start blaming the company you are in and move to a new company and maybe move again. Then eventually you move right out of the business.  Its not me it’s my boss attitude can be devastating to your career.   If you are not getting the training, support and guidance you need when you first start, you are working an uphill battle all the way.

Every company pays you on commission.  You will earn a percentage of your commission each sale. Let’s say you start off at a Real Estate Company for 60/40.  When you sell a house and let’s say get the selling commission of $7,000.  You will get 60% of that ($4,200) and your company will get the balance.  As you earn more money, this will be brought up to 70/30 and then 80/20….typically.  You can work for companies that are 100%, meaning you keep all 100% of the cheque but you then pay a higher monthly fee and pay for most things in the office.

Filed Under: Online Real Estate Course, Other, Real Estate Training

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