For those who have trained in real estate brokerage and as such are looking for a sponsoring brokerage, the one thing that they need to keep in mind is the fact that they will be the ones doing the interview of the brokers and basically not to allow it go the other way around. Basically, the key to finding a good brokerage agency lies in finding one that best aligns with your career objectives and as well one that will get you the best bang for your bucks. While it is a fact that some have confessed that their success in the industry was out of their rigorous training, the fact is as well that finding a good sponsoring brokerage to kick start your career as well is very essential for your so sought success. These particular facts point to the fact that when it comes to the pursuit of success in the career as a real estate broker, you remain as directly responsible for the success and as such when looking for a real estate sponsor broker to start off, you need to ensure that you have found the best one. The following are some points that will help you find the ideal sponsoring broker to work for.
First and foremost, it is important that you know that there are such wide differences in the real estate brokerages in terms of the offers that they have for the new agents, the commission splits, expectations and culture. In most cases, a number of the agents base their decisions on the commission splits and sadly enough, this is actually never the best basis on which to make your decision anyway as a newbie.
In so far as this need goes, it is so advisable for you to consider doing some research beforehand, and sample at least three sponsoring brokerages, all different. Now that you have sampled the top ones, at most four, that are the most appealing to you, it is now time for you to schedule a meeting with them and in the meeting have some of the following questions ready to ask them.
It is ideally at such a time that you need to ask them of their commission split policy going forward. Ask of the ratio that the brokerage allows for the agent and the ratio that goes for the sponsor, like 40% to the broker and 60% of the commissions earned going to you or otherwise.
Apart from the commission splits, you need to as well take a look at the other financial aspects of the deal such as the commission caps, franchise fees and the other applicable brokerage related fees.