Chris Marston, Student taking RE sales pre-licensing course (None)

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Rainmaker
478,519
Jason E. Gordon
AmeriFirst Financial Inc, San Diego, CA - San Diego, CA
Sr. Loan Officer, CMPS, CDLP, RCS-D, CDPE, CMHS

I recommend getting a good idea of the culture, support, lead generation, adaptation to technology, professional alliances, and expectations of management. If you're new, I recommend you put "support" over "splits" when you prioritize.  100% of nothing = NOTHING

Sep 10, 2019 09:25 AM
Rainmaker
705,588
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text
  1. What kind of training will you provide me, in exchange for the split?
  2. How long do you retain your agents, average and long/short? I SO think that is critical. Happy agents stay, as a rule.
  3. Can you help me with my business plan?
  4. How available/who is available if I get stuck or have questions? ALSO critical. You don't know anything and SOMEONE needs your back.
  5. Can I review your Policies/Procedures Manual?

Many more, but if they flunk out on these keep looking.

Sep 10, 2019 09:32 AM
Rainmaker
1,239,321
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Some off the top of my head:

  • What are your requirements of agents (weekly staff meetings, use of transaction coordinators, etc.).
  • Do you provide any services (transaction coordinator, copies, flyer printing, etc.)
  • Do you offer any training/mentoring and what does the program consist of
  • What is the agent turnover rate
  • Does the brokerage run a flat fee model, a split model, or a combo of both
  • If a split model, what is the progression ladder and what are the caps
Sep 10, 2019 09:02 AM
Rainmaker
371,857
Susie Kay
Ultima Real Estate - Plano, TX
North Dallas Specialist

Think about what things are important to you and write them down.  Ask the broker how he or she would address every item.  For example, most real estate transaction happens during the weekends.  So as a new agent, you probably would want to know how accessible your broker is for questions on the weekends.  Keep in mind that some brokers have a high split and yet they don't provide you much support. 

You can only interview so much but in the end you will join a broker and decide whether you like it there or not.  Don't be afraid to move to another brokerage if you are not happy with the current one.  Also if you are currently employed, do not quit your job.  From observing the first brokerage that I joined, only 20% of new agents stay in the business.

Sep 10, 2019 10:38 AM
Ambassador
3,315,375
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Can I meet my mentor?

Sep 10, 2019 10:24 AM
Rainmaker
4,997,540
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

as a newly licensed agent, you need training and 24/7 mentoring by a seasoned agent....  ask for both.... don't even think about the commission split unless you have something significant to bring to the table.... i.e., massive SOI, especially local heavy political contacts.... 

Sep 10, 2019 09:44 AM
Rainmaker
1,122,861
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty

How the broker will give you training. 

Sep 11, 2019 05:56 AM
Ambassador
4,218,418
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Tell me about your Training, Coaching, Technology, and Culture. 

 

Sep 10, 2019 02:18 PM
Rainmaker
521,274
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

LOVE this question. I'm an independent broker who has worked her tail off the past 13 years, through good years and lean years. Then someone with a new license in their pocket comes into my office and pretty much the first thing out of their mouth is about the commission split and what kind of training I'm giving. Here's my answer: go to one of the BIG companies and get training from them; they advertise it, take advantage of it. Maybe at some time in the future, when I've seen you work the market, maybe we can talk again. And, no, I'm not looking for someone "willing to learn". With all the laws, rules and regulations, that's pretty scary, I'd have to monitor you all the time. And why would I want to do that? The franchises have it all worked out, all you have to do is compete with all the others there.

Sep 10, 2019 02:11 PM
Rainmaker
1,606,860
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

If I were starting out today the 1st thing I would ask is if there is a team with experienced agents on it that I could join Chris Marston . There is no better teacher than experience.

Sep 10, 2019 12:14 PM
Rainmaker
3,337,620
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Do your homework.  On the industry as well as the broker/brokerage.  Review the answers provided here and see what fits for you and your situation.  There are many posts that have been written by ActiveRain members that give insight that can give you a feel for questions that will work for you.  

Good luck.

Sep 10, 2019 11:56 AM
Rainmaker
1,322,599
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

What Candice A. Donofrio said. Training and mentorship is crucial in the beginning.  If possible intereview some other agents in the office AND agents that have left that firm. 

Sep 10, 2019 10:50 AM
Rainmaker
1,535,036
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Please see the question asked by @paul s henderson.

Sep 10, 2019 10:36 AM
Rainmaker
156,570
Melissa Polce
ERA, Wilkinson Real Estate Charlotte - Huntersville, NC
Lake to Land, I've Got It Covered!

questions you ask from the experienced agent to new agent are pretty different, what do they offer, what is covered, marketing, xtra fees- you want the bottom dollar of if you sell X for $500K, what goes in your pocket...good luck

Sep 10, 2019 09:29 AM
Rainmaker
769,471
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Let's put it this way...A bad question is one that goes unasked

Sep 11, 2019 07:57 AM
Rainmaker
1,558,051
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Well, dear Chris. 

Feels like you know the answer.

Sep 11, 2019 06:06 AM
Rainmaker
653,264
Paul Antonelli
Antonelli Realty - Saint Cloud, FL
Broker Owner; Antonelli Realty

How do you support your agents? What is the starting split and how offten is it reviewed. What are your requirements? 

Sep 11, 2019 05:14 AM
Rainmaker
3,278,456
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Ask about the traing program for the first 60 days, who wil conduct it and if there is a cost involved? Next do you have a mentoring program and how long does it last? By now you should have a feeling for your chemistry with the broker. Good luck!

Sep 11, 2019 04:59 AM
Ambassador
3,103,752
Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

Ask about support, education, and office fees and commission splits..

Sep 10, 2019 09:45 PM
Ambassador
1,641,860
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

It is all about support to me. I want an experienced broker who is available to me so I dont' make too many rookie mistakes. I also want the broker to take an active interest in makinbg sure I don't just make sales I also keep as much as possible. One day you will need it.

Sep 10, 2019 06:41 PM
Rainmaker
1,543,485
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Is the managing broker competing for business? If so, move on.

Sep 10, 2019 02:41 PM
Rainmaker
548,798
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

It really depends on what is important to you but I'd ask- What's the commission split? Are there any other fees? Does the Broker list properties? Am I required to attend meetings & do floor time? What kind of training will I receive? Do some research on your own too, on Google.

Sep 10, 2019 01:55 PM
Rainmaker
3,018,004
Richard Weeks
Dallas, TX
REALTOR®, Broker
1. Do you provide formal training to agents?
2. Is there a program where new agents are mentored by top producers?
3. Are any of my training or class expenses eligible for reimbursement?
4. What is the starting commission split? Does it change with production?
5. Is there a bonus program?
6. What costs am I required to cover?
7. Am I required to have additional auto insurance?
8. Where do you advertise and who pays for it?
9. Are my desired farm areas already taken by other agents in the company?
10. Will I receive a copy of company policies to review?
11. What is the dress code for the office?
12. How many agents are in the company?
13. What is the average gross volume of your agents?
14. What commission does the company typically charge? Am I allowed to offer a lower rate?
15. What is your policy on referrals within the company and to outside agents?
16. Is there any clerical or support assistance available through the company?
17. Do you have regular meetings?
18. Is the environment team-based or individual?
19. Do you handle commercial listings or property management?
20. How many listings does the office typically have?
21. What is the company’s market share?
22. What are your office goals?
23. What are your expectations of me?
Sep 10, 2019 12:43 PM
Rainmaker
5,384,626
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Ask about training, support and the fees.

Sep 10, 2019 12:10 PM
Rainmaker
2,791,480
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Are you willing to take a lie detector test during this interview?

Sep 10, 2019 11:37 AM
Rainmaker
2,455,814
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Well the Broker wants to know what you bring which influences what he will bring/offer you. Have your first impression on "10", let your skills bank come out for him to sample and ask questions meaningful to the Brokerage. When he sees you care you will see he cares. Be careful about the "whats in it for me" which lurks in every-ones mind. Bring it up skillfully or let it come-up

Sep 10, 2019 09:48 AM
Rainmaker
3,097,293
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Interview the agents who are associated with the brokerge. Find out about training programs offered if you're new.

Sep 11, 2019 06:27 AM
Rainmaker
761,266
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

There are only two questions you need to ask. From the responses you can extrapolate all the information you need. These to question deliver OBJECTIVE measures of the brokerage, not feel good stuff that is subjective.

Of course, you will have in hand your business plan and stats created by following the On The Right Track' guide.

Use the guide to help draw the needed conclusions from these two questions:

1. How many agent, (EVERY LICENSED PERSON) in the brokerage?

2. Total transactions sides for that brokerage in past 12 months.

It matters not a whit what escapes the lips of the broker, but what does matter is the RESULTS.  You know what you need (business plan) and you now know what the broker delivers.

It  is your choice to go with the facts or chase the "We got train'n' nonsense.

Comment added Sept 11.
In this business, many organization exist on the absurdity they can create. One such offer to your question contains a list of 104 questions to ask the broker. ALWAYS be aware where many words exist transgression occurs.

As a new agent your #1 goal in to get involved in transactions. You learn by doing not warming a stool in a train'n room. When you actually have a business THEN you start to process of optimizing income.

Sep 10, 2019 04:20 PM
Rainmaker
18,745
Karen Climer
Demetree School of Real Estate - Orlando, FL
Teaching people to pass the real estate exam

Find out about the training and the culture.

Sep 10, 2019 01:30 PM
Rainmaker
1,004,459
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

You'll need answers for these typical broker's questions first before asking anything.

1 - What made you decide to become a real estate agent?

2 - How much income were you expecting to earn in your first year?

3 - How many hours per week are you willing to invest to accomplish that goal?

Your Questions are contained in this link c/o Keller Williams. It is the most conclusive I could find and know I have no affiliation with them. This is for information purposes only but will certainly satisfy any want or need at this juncture. Best of luck!

 

 

Sep 10, 2019 01:16 PM
Rainmaker
4,450,047
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

SO MANY GOOD ANSWERS,

PAY ATTENTION TO ALL OF THEM...A

Sep 10, 2019 11:00 AM
Ambassador
2,215,299
Wanda Kubat-Nerdin - Wanda Can!
Prado Real Estate South - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Looks like you have some fantastic answers from experienced professionals. It's up to you how to proceeed from here Chris!

Sep 11, 2019 12:12 PM
Rainer
236,642
J.R. Schloemer, CRS
Kentucky Select Properties - Louisville, KY

What is the worst sanction you have heard of someone receiving. 

What they believe the most important fiduciary responsibility is.

In all honesty, ask open ended questions to them so they do the talking and just listen to them. What are they going to offer you? Training, training, training. Mentoring, support, tools, and follow through on the empty promises they make to sell you in the interview.

Sep 11, 2019 02:49 PM
Rainmaker
1,015,187
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

They are claim they provide tools and offer leads but you have geerate your own leads on your own 100%.

They all claim they will train you. Unless it is paid mentor program much skills are to be picked up by yourselves.

Suggest you go to open houses and interview agents. The more experienced agents who has been around listen to their suggestions.

Sep 10, 2019 11:57 AM
Rainmaker
405,232
Abby Stiller
REMAX Realty Group - Cape Coral, FL
Professional Bilingual Realtor (239) 284-8637

Ask about training, support, splits

Sep 11, 2019 07:14 PM
Rainmaker
680,384
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

"What sort of additional training can you provide to enable me to be successful?"

"Will I be on my own or will I have a mentor whose job it is to help train me?"

Sep 17, 2019 01:22 AM
Rainmaker
3,171,781
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

How much mentoring will you give me.

 

Sep 15, 2019 08:46 AM