How to Choose the Right Real Estate Office - Kevin Ward
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- Опубліковано 5 жов 2024
- Go to www.agentturbo... for the best training for new real estate agents or if you are in the process of getting your real estate license. From Kevin Ward, #1 Bestselling author of The Book of YES (TheBookofYES.com), and international real estate trainer, speaker, and coach...committed to providing you with the best real estate training anywhere.
Go to YesMasters.com for more killer training videos for REALTORS from Kevin.
WATCH PART 2 of this video here: • Choosing the Right Rea... (I shot this extra video to answer the question: "How can you tell which office is truly the best one?"
Picking the right real estate office or choosing the right company is a significant decision for a new agent to support your success. Here is a summary of the top things to look for:
1. Leadership. If an office has tons of agents who close zero deals…there is a reason. Even a big name brand with a poor leader sucks.
2. Broker Support. How much experience. Non-competing. In-person availability. Do they have my back?
3. Training and mentorship. Things to look for: New agent training. In-person and on-going is by far the best.
4. Success. An office full of top-producing agents means you will be in an environment of success….and there is a reason they stay.
5. Market share and name recognition. This definitely has value, but not nearly the most important thing. Market share more than anything is a reflection of the fact that that office has successful agents. More agents to learn from and collaborate with.
The Biggest mistake: Looking for the cheapest office. If you do your homework…you get what you pay for. Look for fruit on the tree, not the price tag. Finally, your success is up to you.
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Biggest thing is comission split, I started with Keller Williams when I started out they took 40% of every deal. I peaced out after a year and get 95% now. Best thing I ever did.
I worked on a team at Keller Williams where I was paid 40:60 if the leads were sourced from their database and 50:50 if it was my lead - until I hit my cap. Needless to say, this isn't suitable for a new agent looking to establish his business and finances... Team leads and the brokerage are the real beneficiaries from this unless you're an absolute rockstar and already have lots of business. Other brokerages I'm looking at are more fixed at like 85:15, which is much more appropriate for the average agent. KW is best for people seeking to build teams (especially with their MLM model).
Interesting perspective. I started with a company at 50/50 split, after 6% off the top, and then had to spit my first 3 deals 50/50 with a mentor. But the company had the best training and I closed 42 deals my first full calendar year in real estate (oh...and when you sell a lot of houses and make a lot of money, your splits get way better). Looking for the cheapest split is like shopping for the cheapest car. I'm just not into cheap. I'm into massive success. I don't care whether it's KW or what company...what new agents should focus on is selling a lot of houses and making lots of money. Find the company that helps you get more listings and sales.
I agree with you, commission split is very important if an agent sells few homes a year. However top producers look for training, technology and support to take their business to the next level.
Wow, I am with KW & I am new. I went to them to learn and build my business. The commission caps off after $19,000 & $3,000 for the office. I understand that each office maybe different. But after 1 year I will be at 70% and pay them 30% and then the caps are still in place.
So, if you are doing what Kevin says then you will sell more houses and once you cap off you will not pay anymore. This is why Keller Williams has some of the top agents in the US. Plus we have technology that rocks to build your business with no limits.
How's the business going so far?
‘Bloom where you are planted’ That saying has been in my head for weeks now. Took a break from real estate. Moved to San Angelo and finally decided to join a very small office here. I’ve been struggling with that choice I made every since. I’ve only been here a month but after listening to this video I am certain that I am not in the right office. I’ve been in the business 9 years and starting all over has been really tough for me. But at least I feel like I can move forward now on some decisions. I’ve literally been losing sleep over my choice in offices. Thank you Kevin! Enjoy your videos tremendously. Maybe once I get rolling again, I can sign up for coaching.
Wow!!! So logical! I'm so glad I found you before I got licensed.🤩
One of the many problems in this industry is all the brokers out there are going tell you what you want to hear that they have all this stuff to offer you. At the end of the day its up to that individual person to go out there and get the business. No broker will turn you away unless you have a bad reputation. 99% of brokers will let any body that can fog a mirror hang there license there. Its all about how many houses you can sell thats all the brokers care about.
Just studying for my real estate exam now; writing exam early Feb 2019....this is amazing content and really inspires and motivates. Thank you.
How's the business going so far?
I had a broker interview the other day and a visitor entered the office and my interviewer excused herself in the middle of our interview and walked out to say hi and the chatted like they were old friends. Turns out she was a realtor who had just had a baby and came by to visit. Long story short I packed up my stuff interview over. Correct me if I'm wrong but I found that to be very unprofessional and honestly like I wasn't important.
R K that’s so stupid that they did that...
if you had a baby and were welcomed back to the office like that, how would you feel? like family or an employee? You were not a great fit!
I would have been patient
@@paulvivier1984 paul, re read the comment. NOT and agent of that office
Too sensative
This video is spot on! Great delivery.
Sorry to say, some vey important points missed. Advertising support, lead generation support, check social media sites, see how they support the core function of a brokerage. When market fundamentals are good sometimes spits make sense, however once they don’t watch out. The number one question for a homeowner is; what are you going to do when you put my ho,e on the market? The best company’s have identifiable and comprehensive marketing program locally. Also, brokers who can talk with transparency, much like Kevin here, they are not afraid of talking about what they do. You must, and I cannot state this enough market share is really not a good metrics. I did a study on market share and the number one issue was agent performance was the same no matter the company. Furthermore if you cut out the top 10% of agents in that particular company, APR ( agent production ratio) were worse than smaller non market share leaders. Large market share companies have some political structures that inhibit growth. Some big agents in companies do not like good upstarts who they perceive as a threat to their market share as agents because they have gained favor. It’s not that simple... But as about APR ratio of agents with 2 years at the office and you’ll find the real deal. Most brokers won’t even know how to answer!
Anthony, I liked your comment. I am working on getting licensed here in California. I want to pick the right Broker. I wasn't sure what you meant by ... "But as about APR ratio of agents with 2 years at the office and you’ll find the real deal. Most brokers won’t even know how to answer!" Could you explain that, because something tells me that's an important concept for me to grasp. I look forward to your reply.
R Miller damn I missed it too that part confused me too. Anyone care to share?
Great advice! I agree that mentorship from a seasoned, highly successful agent is key. I would much rather give up more of my commission for great leadership and training that go cheap, pay less of my commission and try to figure everything out on my own.
How do I find the top 3 companies in my market? Link?
I m glad I found you! I love your videos. Thank you very much for sharing.
I’m a fairly new realtor, I joined a brokerage and it’s hasn’t been a good month! I’m already signing with a new broker!! I wish I would’ve watched this video first!! Yet long story short I did exactly what you said in this video!! Lol, but this video was heaven sent, so thankful I made my switch!! Excellent advice
Great video, it makes choosing a broker simple and easy by following the 5 steps.
Hey Kevin , this is a great video. I'm speaking with KW and been sitting in some meeting. I don't have my license yet but doing all these except now I will speak with the broker. I wanna know I have support out there on the battlefield. Love your videos man. Great energy.
6 Months in. How's the business going so far?
@@thatguy473 same wanna know too.
I watched a few of your videos today, I must say, you are an inspiration.
This video is a great advise, I am just not sure how many agents will watch it before they pick an agency. One thing I know they will be some that say D**m I wish I watched this video long ago.. :))
Agree!
Kevin Ward Real Estate Academy I am new and this (passed my state exam 1/9/17) was the 1st video I took a chance in watching. Glad I did!
music196721 How was the test? Are you in Texas by chance? I am having big time test anxiety! Any recommendations...
Rhonda, I am in GA. My test went well. I passed. It was long. Best advise I can give is read the questions twice to understanding what is being asked before you answer. If you don't know the answer directly , use the process of elimination. It works. Also the sections that weigh the most of the test, naturally know those chapters in and out, up and down.
Hi I took the Texas Real Estate this month and honestly it wasn't as hard as I was expecting, I passed both tests on the first trial and my recommendation would be relax!! nerves can be your biggest enemy specially while testing. Remember here we have the opportunity to take the test 3 times before having to repeat the whole course again.
So just try to go as calm as possible to your test, having in mind that is only your first trial, and even if you fail, the next time you go you'll already have an idea of what the test and the questions look like and you'll feel more prepared. Plus you have plenty of time to respond and review the questions! :D
I wish this video was available 6 months ago! So now I must re listen to your inspirational spartan video and overcome the odds.
Thank you Kevin, I really love this,I would follow your training
Thank you so much for this video, I went with my gut and the Broker I have selected matches everything you talked about...now just need to pass test on Tuesday and wait on license!
Jessica Sarasch how’s it going?
How’s your career been so far?
The company brand doesn't matter any longer. You're the brand. The company brand will matter less and less as the industry changes. Commissions will continue to fall till they no longer exist. Eventually, agents will be on salary and or hourly. It's not a matter of if but when. Franchises and brick and mortar are in big trouble as this industry disintermediates them all. Finding your niche and establishing lifelong relationships is key.
Interesting. I’m new to this industry so I’m curious as to why you say commissions are falling? Agents will soon have salaries? I’ve hearing that this industry is growing and more people are jumping in. Perhaps that is the reason?
Great video! I am trying to switch from par time agent/full-time student/ part-time worker to a full time realtor.....but to me commission split is big but then again broker support, forms and mentor-ship, etc., are big, as well. Also who are you surrounding yourself with ? Top producers and good energy? or mediocre agents with apathetic energy?.... I like the homesmart commission split thing.... but then again Kevin has a point as well....Thank you Kevin!
What do you mean by not being a fan of "branding?"
Great information ! Very helpful! Love all your videos
I'm BRAND brand new and I'm at Keller Williams. Great coaching and mentoring, great culture, great atmosphere. Right now I don't see any real reason to switch offices.
Looks like it has been 6 months. Now what do you think about it?
What if it's a new office (almost a year established), run by a broker with past success as an agent (100+ deals per year), few agents (15), and offering coaching, trashing, and administrative support? Is it too risky to choose a newer, smaller office?
Lori Brown did you end up with that office? How’s it going I’m curious since it’s been a couple years!
@@kjimeneza1030 based on her profile picture looks like its going good
Love it!! Thanks for the advice coach!
Preparing to find a course and thought I would do as much research as I could before I even start.. Great Info!! Wish you were a Broker here in Southern Cali. I would definitely come work with you.
Pierre Sutton Hi, I'm gearing to get my license and am too in SoCal. Have you chosen an agency? Any advice? So far it seems Century21 or Keller Williams is where I might go, but since they're franchised each one may differ.
Could you do a video on the questions you should ask the first time meeting with a company you would like to potentially work with ?
He just did. Ask these questions. What training do you have for agents? What coaching or support do you have? Take each point that he made and ask them in the form of a question. I hope this helps.
Walk out of an office that puts the agent down, is run down--looking, and the broker who builds themselves up at others' expense. Do not go into the first crap hole that will take you. Success depends on the agent--not greener grass.
How do I find the top performing offices in my area, in a given market??
This is a valuable question. I wish someone would answer this question.
Call your local MLS. 🌞
Go on the National Association of Realtors (NAR) website and then to your local NAR website and they have all the market statistics and reports.
What should I expect from a mentor? Should we spend a lot of time together or should I only expect help when I have a question?
How do we get into the sales meeting if we don’t work there?
What’s the vetting process when it comes to selecting a company the has a healthy culture that promotes success.
Hello Kevin, I'm now doing research on agencies, your video has been very helpful. Aside from Google searches, which haven't turned up a huge amount, do you have any advice on where to obtain information about the top performing agents in my area?
Yes. Check out the companies that seem to have the most signs in yards. Go interview them. They'll tell you. But you may need to interview 5 or 6 companies to find out.
Can someone help me with my dilemma? I'd like to do real estate on the side of my software engineering job. I'm not a person who likes to be mediocre as Kevin mentioned in the video so I do not want to work for mediocre firm. However it seems that a lot of mediocre firms offer a lot of the flexibility that I am looking for. What is the best kind of office or environment for me to become a top-producing part-time agent?
As a brand new agent, does this mean that I have to start at #5? In order to find the right RE OFFICE. I feel that I have to pick an office first based on the Market Share & NAME and then #1 I can attend their meeting, #2 I can interview/talk to the broker, #3 I can attend their training and #4 I can meet their agents and hopefully all 5 points are met.
How's the business going so far?
Great Stuff Kevin!! All your content is on point! Just Subscribed!
Hey Kevin, thank you so much for the helpful info! Do you have any tips on how to find out how the top producing agents are performing in a brokerage? Is it a “rude” question to ask how much business they’re doing? Thank you again!
How much your course?
It's hard to know some of this before you start with a brokerage.
My question is one company I'm looking at HAS a coach but he's only been an agent for maybe a year at most. Now, I don't know how much success he has had but should I be looking for a coach that has more years in?
Bad coaches are probably worse than no coach. Look at sports teams...all of them have coaches...some are championship contenders every year...and some are at the bottom of the league every year. Hiring the right coach is probably the 2nd most important element of your success. The most important element is YOU.
Great video, thanks for the advice . I gave you a thumbs up.
Can u do big brand firms vs small pros and cons
Thanks for the very helpful videos
On broker support what about a holiness email service that's automated through A.I. where your question is routed to the appropriate person and then answered within 45 minutes.And isn't a lot of training going virtual and online anyway and has been accelerated because of the pandemic?
OMG...these are great. Thank you. Got 3 interviews tomorrow :P Ha!
Great video I'm starting my course end of month
Ok i have finished school been approved by Trec to take my test, taken the prep course and I'm having Test anxiety! Has this happened to anyone else? Also I have not found a Broker that I am comfortable with yet
R K how has been your first year in real estate?
Kevin has videos on how to prepare for the test and what to do on the day of the test. I passed the first time using his videos!
bye felicia how ya doing today?
I moved to a new state and I’m in the process of getting my real estate license. Does it matter if I keep my out of state phone number or should I get a local area code number to the city I relocated to?
Great Video. You just gained a new subscriber :)
So are you talking of keller williams companys? Hope you answer me because I’ m study right now to get my licenses and I’m looking for a brokerage
Before watching this, I wrote my own interview questions for deciding who to work for. #1: who’d you vote for in 2020? But these are great ideas too.
Not sure thats a good question tbh
Thank you , great advice
am a billionaire now just for watching this video .. #kenya
Need you help if became a billionaire becos am up coming real estate agent. From UGANDA. Asante sana bwana
Great video. Except that boutique offices does mean they do not have top producers
Nice , i'm thinking to go into real estate agent
Thank you
Looks like EXP realty has way way more pros than cons But not having a mentor or broker in person has put me on the fence.
Tom Solverson hello did you decide to go with EXP?
Tom Solverson you joined with EXP? How about your experience?
Wondering same about EXP
Great video.
Thank you!
How do I ask the broker if they will support me or throw me under the bus, if I make a mistake during the interview? Please advise.
How approach do you suggest towards getting my first broker interview for potential license sponsorship? I have reached out to some well known agencies in my area, however I am finding that they want agents with experience. It doesn’t seem to be the case that new agents (license pending broker sponsorship) are selecting brokerages, but they are selecting agents. Also, do most brokerages charge a monthly fee to agents?
What are your thoughts on EXP? Im torn between going with EXP or KW
The brand is not as important as the leadership and support in the local office. Here's a video that will help you know what to do: ua-cam.com/video/9XcLZLu6cSg/v-deo.html
My budget is very tight and I am thinking to change to a much cheaper brokerage, I am worried that they will not even look at me or such because the fee is very minimal, should I still make the change? My brokerage right now is 400+ and for me it's too expensive.
Hello Kevin,
Any recommendations for the quickest way to obtain a new real estate license. New subscriber Al
Very informative !!
Thank you. Great video.
How to find out about successful broker?
Thanks you soo much!
Thank you so much
I love your videos thanks for posting :)
I just want to work from home as a solo agent. Maybe someone could put me in the right direction... thank you
What about the split
What about if a Keller Williams/Coldwell Banker office has been advertising on their sign, "looking for new agents call"....but it's been up since 2016 when I moved to my area! I'm interested but seem weary of that office bc of this... OH and the contact name has changed...
Growing companies are almost always looking to hire new agents. Don't worry about that. It can be a good sign that they have great training for new agents, but not necessarily. Just don't think you should avoid them.
how to find real estate office?
thank you this video
excellent advice.
Good ❤ thank you
Thank you!
Thanks
thank you.
I wanted advice on choosing a broker in regards to markets. I live in a county with a 121k population and median house price is 340k. The next county over has a 772k pop with 560med house price(30min drive). And the next county over has a 2.1mill population with 940k median house price(hour drive). I don't mind the drive but are bigger markets with higher home prices better?
My opinion...start in your backyard as long as the market is good. You can always expand later.
Bingo that I what I did
Why do you associate boutique with underachievers?
wonderfull
much better than adhi
Editing to get to the point quickly.
yeah... not in agreement totally with this, Brokerages grabs and snags agents, and you're basically on your own. Training... your too busy out there selling or should be. Broker support.. is a good thing but these brokerages get so big, numbers game and hire anyone even if they aren't producing, takes time away from serious agents who want to learn or need support, put the money in your pocket. Go for the boutique brokerages after one year. Stop paying this ridiculous franchise fee.
What kind of mistakes can agents make that would cause them to be sued?
That's like asking what someone driving a car can do that would cause them to have a wreck. The bottom line is, do what's right and learn how to follow the rules and laws in your state and chances of you being sued are slim.
@@KevinWardNOW Ok, here's a better way to ask it: What are the most common reasons why real estate agents are sued?
Thank you