Jacqui Rum

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Rainmaker
1,854,038
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

I am an associate broker, glad I did because I can provide a higher level of service to my clients but I wouldn't want to be a broker - I don't like paperwork! 

Jun 15, 2016 02:27 PM
Rainmaker
2,902,440
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I was a broker for years associated with a brokerage.  I went out on my own after 9 years and never looked back.  100% commission splits and reduced expenses by working from my home office.  Heaven. 

Jun 16, 2016 05:26 AM
Rainmaker
3,564,883
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I've always had a broker's license. North Carolina is an all-broker state--you have two years from the time you get a provisional broker's license to take your classes for full broker status.

Keep in mind, you might not split commissions if you go off on your own, but there will be cost to doing business that could offset those "savings."

Jun 15, 2016 09:30 PM
Rainmaker
760,060
Peter Mohylsky. Beach Expert
PrimeSouth Properties - Santa Rosa Beach, FL
THE BEACH IS OPEN

 I have my brokers license but have no desire to open an office.  I have a real estate team and have built built a business within my present office.

Jun 15, 2016 08:20 PM
Rainmaker
781,372
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Establish your own brokerage asap; it's easier than you might think, but be sure to cover all the legal and admin angles. Good luck!

Jun 16, 2016 07:48 AM
Ambassador
3,179,984
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

I gained my Broker's License in 2010.  I still affiliate with my same brokerage.  Ultimately, I don't want the added responsibility and expense of running my own business.  However, my business has doubled after getting it.  Hard to not hire me when I tell sellers and buyers that I took a year's worth of education that sales people in real estate didn't take and part of that was intense contract and appraisal work.  

Jun 16, 2016 02:16 AM
Rainmaker
1,417,977
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Jacqui Rum Advertise that you are a Broker/Associate Broker. Although not a designation, it is the one title that consumers know and understand. As far as wanting to be your own broker, good for you. Keep in mind there is a lot of overhead when owning your own business. Splitting a commission might not be so bad.

Jun 15, 2016 11:51 PM
Rainmaker
822,708
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Broker's test should be easy -- you've been working in the field and have studied to acquire the recordkeeping skills and such. Whether or not you become an owner-broker or managing broker or just have the license as an associate broker is up to you. It's empowering either way. One licensee who took 14 tries on the salesperson exam shocked everyone by passing her broker's test the first time. It's just not THAT different and it's definitely not hard enough.

Jun 15, 2016 11:30 PM
Rainmaker
798,417
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

There are lots of extra responsibilites to being a broker. I could do it, but not sure I would want to. I would need a good managing broker and a organized office manager, among other things.

Jun 15, 2016 08:40 PM
Rainmaker
532,794
Robert May
Robert W May - Lethbridge Real Estate - Lethbridge, AB
Real estate consulting

i got my brokers license so i could do my own creative marketing, control my business model, and not pay a split that went to expenses that I didn't always wish to pay.   Owning your own brokerage puts you in complete control, the only real negative is the increased responsibility and paperwork, which can be easily hired out for less than what you pay in a split usually.

Jun 15, 2016 04:32 PM
Rainer
214,523
Sharon Altier, SFR
Lawton Realty Group, Inc. - Elmhurst, IL
Your Real Estate Partner

Congratulations!  Most of us have (minimally) a broker's license and many managing broker licenses.  A Managing Broker's license is a great education and will be most helpful to you. I would suggest you begin at a busy office to get experience for a few years, as an agent, so you know the ropes, before you go off on your own.  May be helpful experience.  Get as much training as possible!  Best wishes on your future endeavors!

Jun 15, 2016 01:36 PM
Ambassador
2,973,351
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I opened my own company.  However you still "split commissions" with stuff like "brokerage license fees" "E&O insurance for brokerages" "additional business licenses" etc.  Overhead of your own firm can be pricey

Jun 16, 2016 03:45 PM
Ambassador
4,307,764
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Jacqui Rum - I have still not gone that far - though would love to do that, soon.

Jun 16, 2016 03:35 PM
Ambassador
3,985,488
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I got my broker's license 31 years ago and so glad I did. It opens up many doors for you.

Jun 16, 2016 02:19 PM
Rainmaker
3,985,587
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I had my brokers for about qa year before i went on my own.  You don't ahve to split commissions, but you have all the other costs that Brokers have to pay and paperwork to contend with.  it is not all glamour

Jun 16, 2016 12:45 PM
Ambassador
2,216,058
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Good luck with your test. 

In Colorado we have single licensing. So I started off as a broker, but if you want to have your own company, you have to be with a broker for a minimum of two years and pass another 24 hours of courses ( I think it's 24 hours). 

Jun 16, 2016 11:15 AM
Ambassador
928,185
John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

Without a split comes higher overhead --- I think the broker license will open up your options and show your experience and knowledge, which is certainly a value.  I know many brokers who work at someone else's office, and some that do their own thing - pros and cons to both sides

Jun 16, 2016 05:07 AM
Rainmaker
1,157,329
FN LN
Toronto, ON

Yes I did.  I use it in accordance with the laws and regulations of my jurisdiction.

Jun 16, 2016 03:53 AM
Rainmaker
1,316,042
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Hi neighbor, I think you showed my Lander listing last year.  I'm going to be sitting for mine later this year or early next year.  My father has had his for over 20 years and has his own brokerage.  You definitely have a lot more flexibility when you have your own company.

 

P.S.  Welcome to Active Rain!

Jun 16, 2016 03:15 AM
Rainmaker
292,385
Jack Lewitz
IL Real Estate Specialists - Evanston, IL

Illinois has done away with Sales Agents License. We are all Brokers. You either are a Broker Manager or a Broker Associate. Broker Owners can work for themselves while Broker Associates work for Broker Owners.

Jun 16, 2016 01:42 AM
Rainmaker
3,531,085
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Good for you, Have a goal and a game plan.  You will do good at it!

Jun 16, 2016 01:02 AM
Rainmaker
3,730,638
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

I'm not but considering it.  However, no desire to be a managing broker.  

Good luck.

Jun 16, 2016 12:33 AM
Rainmaker
831,478
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Initially I opened my own commercial brokerage. A key partner left the business and I changed focus to residential. The REMAX structure made working under their umbrella economically better and the power of a brand synonymous with real estate.

Today, having 'broker' appended to my name actually conveys a meaning the consumer understands. A bunch of letters the homeowner does not understand does not create trust or confidence.

Jun 16, 2016 12:10 AM
Ambassador
1,615,674
Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

I am currently studying for my broker's license. I have opened my own shop and hired a broker. I will obtain my broker's license for backup and for credentials.

Jun 16, 2016 12:04 AM
Rainmaker
2,570,063
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

It does allow more latitude when it comes to making decisions.

Jun 15, 2016 11:21 PM
Rainmaker
1,598,988
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

There are many brokerages out here that do not have huge commission splits. Unless you are going into management, or starting your own brokerage (with all the piles of bookkeeping) why bother?

Jun 15, 2016 10:55 PM
Rainmaker
5,442,068
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I've had mine for 38 years and I did that just in case the challenge of hanging my own shingle surfaced..... I had many opportunities, but I thought the position of managing an office was a better option.... I didn't trust the abilities of any other agent other than myself to work as I work....so I'd be a one woman office....no thanks.

Jun 15, 2016 10:38 PM
Rainmaker
887,497
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

It sits on my desk since I'm not the broker of record

Jun 15, 2016 10:35 PM
Rainmaker
3,331,285
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

We have had our Broker's licenses for years never with the intention of having our own...no split but lots of other liability, expense...not our choice.

Jun 15, 2016 10:09 PM
Rainmaker
3,708,679
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Have a brokers license in Illinois and Florida. Have been a sponsoring broker in both states.

Jun 15, 2016 10:09 PM
Rainmaker
3,067,302
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Yes.

Became an Associate Broker - still align ourselves with a Designated Broker - they handle all the back office, etc.

Jun 15, 2016 09:53 PM
Rainmaker
3,571,767
Richard Weeks
Dallas, TX
REALTOR®, Broker

I have a brokers license.  I have been the sponsoring for companies, and I have worked for other companies as an Associate Broker.  I guess it is a personal decision.

Jun 15, 2016 09:44 PM
Rainmaker
4,432,971
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Good luck.

Jun 15, 2016 09:40 PM
Ambassador
4,841,781
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Congratulations on completing you study, good luck on the exam!

Jun 15, 2016 08:24 PM
Rainmaker
5,976,293
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Buy a RE/MAX franchise and open your own office.

Jun 15, 2016 08:22 PM