What company do you work for and why?

[sweetcarolinahomes]

When I first got my license, I signed on with a local company because they are so prominent in my area. However, now that I'm considering changing companies, I'm curious as to what your experiences are. Some of the companies I am interested in are Keller Williams, Exit Realty, Century 21, Realty Executives, and ReMax. Any thoughts? Also, what are your experiences with companies that charge desk fees versus those that do not?

[MarcinSarasota]

I work for RE/MAX. I like the idea of paying desk fees because I know what my expenses will be every year as far as the split with my broker goes. However, you only want to go with a company that charges desk fees like RE/MAX or Keller Williams if you are doing a certain level of business. If you work out the numbers, sometimes it is best to go with a traditional company like Century 21 or Coldwell Banker.

I would have a hard time giving 30-50% of the commission to my broker since they do little or none of the work in a transaction. If they are providing quality leads than that is a different story.

Some of the larger agents in my market ($40 million plus) are not with companies that charge desk fees. At production leves like that I am sure they are getting a high split.

[beachgal]

I think what you need to consider is, are you generating most of your own business, or do you need to be with a company that generates business for you. When I first started in real estate I worked with the Coldwell Banker office in my area. They were an excellent starter company as the training and support was great, and they generated business for me. They had no desk fees, but the split wasn't great.

I've since moved to another company, who are much smaller and only a year old. They don't generate any business for me, but I don't need them to. I chose their office because I was able to negotiate my own terms with them. I don't pay desk fees and I negotiated a sliding scale on my commission split which started at 80/20 and after a certain figure I get to keep all my commission.

[kensmith]

I am with Keller Williams and I have a 70/30 split up to about 2.2 million or so of production. After that I am at 100% for the rest of the year. I work from my home so there isn't any desk fees and even if I needed a desk it would be anywhere from $28 for a small cube up to about $200 for a private office with a window. Most agents share our offices as they are plently big for 2 agents.

I would recommend that you interview a few offices before doing anything. Each office will have something to offer and it has to fit your needs. Whatever you do make sure to talk to a few agents in the office as some offices are really good at selling incoming agents, but then they don't actually follow through with their claims.

BTW, if you want you can PM me with any questions about Keller Williams. Also most offices will allow agents to come in for their training classes to see if they like them.

[sweetcarolinahomes]

So far, I have interviewed with 3 companies - Keller Williams, Exit Realty, and a local office with a large part of the market in town. Out of the three, I'm leaning towards KW because of the awesome training and support, not to mention commission splits and residuals. However, they do not generate leads and this may be an obstacle as a new agent. That being said, I am with Coldwell Banker now and even as I have had floor duty and a page on the website, I still have yet to get a solid lead from the company. Right now, I'm wondering why I pay them so much. Another thing against KW is that they are also fairly new to the area (around 1 year) and do not come close to being a big player in the market. However, they are a major player in the other major cities in the state, and this may change.

When I first joined CB, I joined a team that promised leads and support, and I'm not getting that at all. It was the first place I interviewed at and I didn't shop around. I'm regretting that decision now. Not only that, but I am under a contract where I have to buy out if I choose to leave before my year with the team is up. That is why it's very important I choose the right company. I can't afford not to.

Thanks for the input. Anyone else have opinions on companies?

[kensmith]

Never rely on others for your financial future or you will never earn anything other than an average income. Average in real estate is pretty low by the way. If you want to make a real income in this business you must learn to generate your own leads. KW will teach you how to do this and they will become a much larger player in your area not that it really matters. You will find many agents that do plenty of business without a large name behind them.

[sweetcarolinahomes]

Very well said. I interviewed at another company today, and again KW seems to be my best option. Not only that, but the office dynamics are great and the BIC and I hit it off well. I'm still keeping my options open but have a feeling KW will be where I will go. Thanks for the replies!

[trianglehomeexpert]

I am wondering if you are in North Carolina? I am with KW in Cary NC, and choose them over others for the profit share system, that is paying off for me now. I have one agent that listed me as her sponsor and I am receiving profit share because of her sales every month!

[Irene M Ward]

I wish I had asked that question about 5 years ago when I had started with Weichert. I am with Beachgal in the sense that I started in a traditional company to generate leads and get my wings. Once I was established and confident to pursue the business in a truly entrepreneurial capacity, I high-tailed it to RE/MAX.

My broker made me an offer I couldn't refuse and gave me the opportunity to take an 80/20 split until I met my financial obligation of $995/mo (no office - I work from my home office). However, I do get to make use of the office if and when I visit with clients there. After I meet my obligation of roughly $12,000/yr, I am at 100% for the remainder of my 12 months. Considering the 70/30 split, additional "nonsense fees", and broker instigating and strong arming I had with my first broker, this seemed like a no-brainer to me.

If you are producing over $5 million a year (which I have since I started in the business with no assistants), then this should be an easy decision. Almost total freedom with very little broker involvement. As a marketing specialist, I value every opportunity to think outside the box and be in control of my own destiny while not compromising my standards or ethics. Sometimes when working with a traditional broker, it's simply impossible to do all.

Good luck - it's a tough decision but you're asking all the right questions. More power to you!

Irene

[Nashvegas]

We are with Realty Executives in Nashville and couldn't be any happier. We pay NO split and a $995.00/month desk fee. We only go to the office to meet with clients and pick up checks Realty Executives does not generate any leads for any of it's agents and offers very little training, so if you are not clearing at least $50k in commissions without broker leads, Realty Executives is not for you. Almost all of the heavy hitters in Nashville are with Realty Executives or Re/Max and Re/Max has been losing at least 1 agent a month to us for the past 2 years...our office now has 108 agents. Hope this helps!