You will find quite a crowd of real estate brokers everywhere in the U.S. today. In most cases, they will get at least 30% of agent commissions to cover their operational costs and, of course, to boost their profits. If you’re an agent looking for a more financially and personally fulfilling career in the real estate industry, consider joining a firm that allows you keep most – if not all – of your commissions to yourself. Absolutely, the firms are for real and they have benefited many with their groundbreaking approach.
So how do you join one of these brokerages? Each firm will obviously have a unique process, but the following will likely be the general flow:
Selecting a Plan
The first step will require you to select a plan that you believe fits you best. If you’re a newcomer, take one of the most affordable options so you can save some cash if you make less sales than you had hoped.
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. In such a case, most brokerages will let you present your own deal. 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 have no number yet, by all means, get one. It’s another easy process, though not that quick. 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
More information will usually be asked from you when you apply to a brokerage. You will have to answer more questions and you are expected to be truthful with your answers. For instance, they may ask you about the realtor organization you are associated with. If you don’t belong to any realtor group, you can still be accepted into the brokerage but you have make a promise that you will join one in the near future. 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
Finally, you have to review the brokerage’ rules and policies and express your agreement. The moment you’ve ticked the “I Agree” box, the process is done. The next thing to do is just to wait to hear from the firm.