Sponsorship

Choosing a Sponsoring Broker

One very important step that you will be taking as you start your real estate career is the decision on choosing your sponsoring broker. Each company has their own philosophies and policies, and our advice is that you interview several brokers. You are interviewing them as much as they are interviewing you, so don’t hesitate to ask questions and figure out what they’re about as a company. A great way to get a feel of what the office is life is to take a tour, attend a sales meeting and talk with other agents who work in the office and the support staff.

 

We want to help you in your process of choosing your broker by providing some interview questions that may be helpful to you!

 

  1. Does the Broker and or Manager compete with me? (some Brokers and Managers list and sell, taking leads that should go to you)

 

  1. Does the company have a written policy and procedures manual?

 

  1. How many active agents are in the office/company and what is their Per Person Productivity (PPP)?

 

  1. What is the office/company market share of listings and sales?

 

  1. What volume does the office/company generate on an annual basis?

 

  1. What referral networks is the office a member of?

 

  1. What other services/departments does the company have?

 

  1. What are the company procedures and fees?
    1. Mail-outs and postage?
    2. Long distance calls?
    3. Advertising?
    4. Errors and omissions insurance?
    5. Lock boxes and signs?
    6. Franchise fees?
    7. Business cards?
    8. Copy/fax machines?
    9. Desk fee or rent?
    10. Technology?

 

  1. What are the qualifications of the trainer and is there a record of success?

 

  1. What type of training or continuing education is provided?
    1. How often?
    2. What is the cost?

 

  1. What duties are expected of the agents?
    1. Meetings?
    2. Telephone or opportunity time?
    3. Property tours?

 

  1. How are the agents compensated?
    1. Commission split?
    2. Referral Fees?
    3. Bonuses?

 

  1. What is company policy regarding an agent purchasing or selling his/her own residence or investment property?

 

  1. Is the agent an independent contractor or an employee?

 

  1. How much are the other agents in the office really making? ASK!

 

  1. Tell me about your Leads Management System?

 

  1. What technology and programs are available and at what cost?

 

  1. Do you have a list of qualified vendors and how do I get to know them and their services?

 

  1. What awards have the office and agents won, Production, Quality Service, Community?

 

  1. Is the Broker or Manager doing most of the company’s listings and sales?

 

  1. Are you interested in my career or simply putting me on someone’s team, building someone else’s Book of Business?