The U.S. real estate industry is hardly short of brokers nowadays. Most of them will take at least 30% of their agents’ commissions to raise their profits and pay for their costs. If you’re an agent in search of more financially and personally rewarding opportunities in the real estate industry, joining a firm that will give you your commissions in full – or at least almost – could be the answer. Yes, there are such firms and a lot have gained and still gain from this revolutionary approach.
So how do yo work with any of these brokerages? As you might expect, the process can be unique for each firm, but more or less, this will probably be the flow:
Picking a Plan
First off, you will have to choose a plan that you feel is most right for you. If you’re a newbie, you should consider taking one of the least expensive options so you can save cash if you fall short of sales target.
On the other hand, if you’ve been raking in sales over the years, a plan with a higher monthly fee can save you money on all closed transactions so that you end up earning more. Sometimes, you will not find an options that seems to make enough sense for your goals or situation. In that case, most brokerages will encourage you to make them an offer. That means you will have more liberty in pursuing more earning opportunities.
Entering Your License and Contact Details
Here, you simply add your name and professional license number. If you don’t already have a number, make it a point to get one. The process is easy though a bit time-consuming. To receive word that you have been approved, you also need to enter your contact information (phone number, email address, etc.). Make it a point to check if you have entered current information.
Answering More Questions
It is a given that the brokerage you’re applying to will want to know more about you. You will have to answer more questions and you are expected to be truthful with your answers. They may, for instance, want some details on the realtor organization that you’re connected with. If you don’t have any group you belong to yet, the brokerage may still consider you as long as you show an interest in joining one soon. And it won’t be a problem even if you decide to join or have already joined an organization that the brokerage isn’t part of.
Studying the Rules
Lastly, you need to go over the rules and policies of the brokerage and indicate your agreement to them. The moment you’ve ticked the “I Agree” box, the process is done. Then you just need to wait for a response from the firm.