So you just passed your real estate test and now you are a licensed Realtor. What now? Usually the first step is to determine where it is you want to work, and who you want to work with. A quick glance at Craigslist and every other job site will reveal that there is no shortage of companies looking to hire licensed Realtors. Every agency in every city has a different culture, reputation, and overall offerings– this makes it crucial to ask the right questions when you are interviewing potential agencies/teams. Just remember its ok for you to do the interviewing, take control of your career!
Below is a list of some of the top questions new Realtors should ask when they are determining which team/company to join.
1. The Money Questions– One of the main reasons you are looking for a career in real estate is probably financial, so don’t be shy when asking some of these financial questions.
- Are there commission splits? If so, what are they? Are there monthly dues? If so, how much? Is my commission the same on every deal? What other fees should I know about? Are there any resources I get for free here that I would have to pay for elsewhere?
2. Leads and Marketing Questions— Some agencies give out leads to their agents, others make you hunt for what you eat. Other groups offer different benefits that may assist you in lead capturing.
- Do you provide leads, if so how many per month? Do agents get floor time, or do certain leads go to certain people? Do you have a marketing team at the office? If so what do they provide, and is there a charge? Who shoots photos of listings, and who pays for this? When I get a listing how is it marketed or is that up to me?
3. People Oriented Questions— A great office is really all about the people, how they interact, and how things flow.
- What is the office culture like? Will someone be training me and helping me get started? Are there meetings, if so are they mandatory? How many agents does the office have? If I am successful is it possible to get other agents to work underneath me? What do you like most about working here? What is the reputation of the company in the area?
These are some of the questions that we were given by some of the local area Realtors who we work with here in Grand Rapids, MI. If you are a professional Realtor what questions do you find helpful when interviewing to determine your next company?
Treadstone Funding is a local mortgage lender in Grand Rapids, MI offering real estate marketing to local area Realtors and real estate professionals.