Thursday, January 28, 2010

Choosing a Real Estate Brokerage

By Patricia Blank Toombs
January 20, 2010

Choosing a Real Estate Brokerage
For Better Homes and Gardens Real Estate Wilkins & Associates 5 Part Blog Recruit Series

Brodheadsville- Choosing a Real Estate Brokerage is the first and possibly the most important decision you can make when starting your real estate career. Unfortunately, most agents base their decision on commission splits without taking into consideration the most important contributions that a Brokerage can offer to a new agent’s career. Before making a decision on a Real Estate Brokerage you need to ask and receive an answer to the following questions.

Real Estate schools only prepare you to take and pass the real estate exam; they do not teach the skills needed to list and sell real estate. These skills are taught by the Real Estate Brokerage, which is why it is important to find out what kind of training you can expect to receive. You need to ask about structured training such as in office training classes, online training, mentoring programs and what kind of support you will receive from the sales manager on a daily basis. Without the proper training you will have difficulty getting and maintaining listings and buyers.

As a new agent without a client database, the next question that needs to be addressed is lead generation. Ask the Broker how they obtain leads and how the leads are distributed to the agents. You also need to ask about the availability of floor time or opportunity time. A 70% commission split and no leads mean zero dollars.

Finally, when starting a real estate career there are expenses that are incurred before you close your first transaction. You need to know the cost of doing business as an agent for the Brokerage. Does the Brokerage have office fees, do you have to pay for signs, lockboxes, advertising, and supplies. As a new agent you want to minimize your out of pocket expenses.

When you interview with a Real Estate Brokerage you need to consider everything in order to make a decision that will help you launch your real estate career and make it successful.

Patricia Blank Toombs is Vice President/Sales Manager at Better Homes and Gardens Real Estate Wilkins & Associates. She has 8 years fulltime experience in the residential real estate field and currently managers the West End Office and Vacation Rental Department. For more information on Blank Toombs visit

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