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. Absolutely, the firms are for real and they have benefited many with their groundbreaking approach.
So how do you join one of these brokerages? Every firm will have its own process, but all of them will probably go by the following general steps:
Selecting a Plan
The first step will require you to select a plan that you believe fits you best. If you’re new to the business, you might want to go with the least pricey option so you can save some cash just in case you don’t reach your sales target.
If you’re an experienced agent, on the other hand, a pricier plan will offer you savings on all closed transactions, thus increasing your total earnings. Sometimes, you may not find an option that makes perfect sense. If that’s the case, the brokerage will usually allow you to make an offer. That means you will have more liberty in pursuing more earning opportunities.
Entering Your License and Contact Details
This part is as easy as keying in your name and professional license number. If you have no number yet, by all means, get one. It’s a very simple process, but it does need time to complete. To know whether you’ve been approved or not, you also have to add your contact details, including your email address and phone number. Make sure the information you supply is current so you can be contacted as soon as possible.
Answering More Questions
It is a given that the brokerage you’re applying to will want to know more about you. They will ask more questions and you are expected to answer them as honestly as possible. For instance, they may ask you about the realtor organization you are associated 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.
Mastering 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’ll have to wait for the firm’s response.