Which RE company to I choose?
I am an experienced agent who has three companies to choose to associate with and having a very difficult time deciding which one to go with.
These are my three choices and each one has positives and negatives and below are the following:
I started out my RE career with my first choice and received excellant training and support and went on to receive numerous awards and made well over 150K each year I was there but take home was after taxes about 60K (low) because of the commission splits. However, did not spend hardly anything on marketing because everything was basically given to me to use which made being a new agent with very little money to market with an advantage. After 3 years of being with this company I moved to another state where I felt I had the experience to associate with a known franchise who is the same just different owner as my second choice below who charged me a very high 1K+ monthly office fee, where I had to spend thousands for just the essential items alone such as folders, cards, marketing material, lead sources etc.. Although I received hundreds of leads through their RIM system most of the leads were just not buyers or sellers that were really looking to buy or sell. Even though the commission was higher I found that I was spending more than I was making and left for a different company before moving back to where I am now.
Here are my following options
1. Internationally known company that everyone knows. I would be limited to only taking 6% or higher charged commission. I will get my own desk, start out at 69% commission and once I do 100K in GCI will go up to 84% commission and if I ever made it to 300K would get 89% commission which is the highest you can go. The office fee is $80.00 per month and that includes E&O. I get unlimited B/W copies, all my folders, cards, marketing material are supplied. All listings are automatically advertised in a quarterly home magazine and all internet sites. They also have a relocation company that will provide leads of which I would have to pay up to 50% for the referral and then my commission split which isn't that good and they're also involved with another lead generator as well. It has a wonderful atmosphere and I am familiar with how things run and operate.
2. Internationall recognized company which you see commercials for all the time and of which get many leads on a monthly basis but the leads are not what they are cracked up to be. I can charge any commission I choose too. I am being offered a upfront fee of $395 with $0 for the first 90 days and $500 a month office fee for the following 6 months and then it changes to $750.00 per month. I would be getting 98% commission and responsible for all my own marketing materials, folders, B/W copies and advertising. There are some wonderful experienced agents I have worked with in the past there and know I would fit in.
3. Third company not nationally known but has a strong following on the West coast where I am. I can charge anything from 4.5% or higher. I am being offered 80% commission with a $25 monthly office fee get my own desk and all folders, cards, and marketing material are provided for. Once the company gets 25K out of their 20% commission take the commission goes up to 95%. They have no relocation department and leads are primarly brought in by one of their advertising that if you get a listing goes into a monthly home magazine. The Broker there is fabulous and absolutely love their attention to detail and would be a pleasure to work with.
I would love everyone's input because I really can't afford to make a mistake. I am very limited on my money right now and feel that although I feel I will make myself successful again the market is very different and they are not making sales like they were before I left and I just don't want to get myself into a trap of being responsible for monthly fees and have no deals closing. I am also worried about getting business with a company that provides no leads what so ever. I know nothing is guaranteed and I know the real estate business is risky but I am like a new agent starting over with hardly any money and even have to take a job until my RE business picks up again. I haven't had a "job" for almost 5 years now so it really will be tough but I love being a Realtor and just want to do the right thing. Please respond with what you would do; which company would you choose?
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Re: Which RE company to I choose?
Re: Which RE company to I choose?
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