[ISellRiverview]

I am getting ready (today or tomorrow actually!) to tell my existing broker I am moving to Keller Williams. They have a better split, better training, and a better philosophy on real estate. However I have had some conflicts with my broker, actually the broker's wife who thinks she's the broker and who you have to go to before you can even speak to the broker. I am a little afraid she or both of them are going to flip out.

I have a few listings and they do not let you take them with you. However, KW is willing to do a 25% referral fee if they allow me to take the listings so I need to diplomatically tell them I am leaving and ask if they'd be willing to consider that. One of the listings they are going to lose regardless because the client is about to go into foreclosure and my current broker says their new policy is that they don't "do" short sales. That's part of the reason I am leaving - I don't think they exactly know what they are doing and are making it up as they go along.

What's the best method to break the news? Just say KW is a better fit for me, as a newer agent who wants lots of training? How can I do this in the nicest way possible, while not wanting them to convince me to stay - because I won't. Any advice?

Also - what's the best way to tell your current clients? Should I tell them before or after I've told my broker (I would think before). The broker I am with now has a $500 cancellation fee if they cancel their contract, should I mention that if they want to stay with me, I'll refund them the $500 at closing out of my commission?

[judyo]

Read my post in this thread about leaving my broker after 22 years. I was sick to my stomach to tell my long-time broker that I was leaving but I've never turned back.

I didn't check about my listings with my first broker and waited to leave until everything closed. Put me in some downtime but I wasn't sure how he'd handle listings. I signed a contract with my next broker that stated that agents can take their listings with them. That was great. It's the same with my current broker but I really can't imagine leaving them.

In your case, I would offer the $500 to the sellers if they "move with you." That way you get something out of it and remove those listings from your current broker.

Don't feel so loyal to your broker, you haven't been with them that long and the wife sounds like a pain. As I stated before, if they flip out it just shows how unprofessional they are. A brokerage that refuses to take short sales? It does sound like they don't know what they're doing. Get outta there as fast as you can!

Most brokers hire anyone that's breathing. You're money to them. But you need to think about what's best for you. Best of luck!

[ISellRiverview]

Originally Posted by judyo

Read my post in this thread about leaving my broker after 22 years. I was sick to my stomach to tell my long-time broker that I was leaving but I've never turned back.

I didn't check about my listings with my first broker and waited to leave until everything closed. Put me in some downtime but I wasn't sure how he'd handle listings. I signed a contract with my next broker that stated that agents can take their listings with them. That was great. It's the same with my current broker but I really can't imagine leaving them.

In your case, I would offer the $500 to the sellers if they "move with you." That way you get something out of it and remove those listings from your current broker.

Don't feel so loyal to your broker, you haven't been with them that long and the wife sounds like a pain. As I stated before, if they flip out it just shows how unprofessional they are. A brokerage that refuses to take short sales? It does sound like they don't know what they're doing. Get outta there as fast as you can!

Most brokers hire anyone that's breathing. You're money to them. But you need to think about what's best for you. Best of luck!

When you say offer them $500 - they have to pay $500 to get out - so do you mean offer them $500 now to cancel the deal, or an additional $500? As a new agent, I can't really afford to dish out the $500 until the deal closes, that's why I was thinking at closing. And in this market, there's no guarantee its going to sell so I would have a hard time parting with the money up front.

[judyo]

I meant that you'd reimburse it at closing (unless you could afford to pay for the cancellation fee up front - but that's pretty scary). That way they'd be more willing to stick with you to closing instead of searching around for the next agent if their listing nears expiration date (depending on how things are your way).

[Morristown]

Originally Posted by judyo

I meant that you'd reimburse it at closing (unless you could afford to pay for the cancellation fee up front - but that's pretty scary). That way they'd be more willing to stick with you to closing instead of searching around for the next agent if their listing nears expiration date (depending on how things are your way).

I totally agree with Judy, and you need to get out of there, it sounds like you would be better off almost anyplace else.

Yes it is hard to tell your broker you are leaving, I went though that last year, but you get over it fast.

My best wishes to you,

Jim

[ISellRiverview]

Originally Posted by Morristown

I totally agree with Judy, and you need to get out of there, it sounds like you would be better off almost anyplace else.

Absolutely. I am just trying to figure out what to tell them since I've only been with them a short time and to try to be nice so they might consider letting me take my listings and accept that 25% referral fee. But its a long shot.

[Carlidin]

I am in the process of deciding whether to change and have came to the conclusion that it is the right thing to do for me. Not only a much better commission split but a way better location and office conditions. One issue is that it is not only me but another agent that is also moving (we are going together) so our broker will absolutely flip out. She has done so in the past when we tried to talk to her about our terrible location. Rather than discuss like adults she walks out. This is NOT going to be fun. But after reading this discussion it makes me more determined to do it. Thanks so much!

[NY RE Broker]

I am really shocked more agents do not have Termination Agreements in place. Please, if you don't...get one, if you are going to a new broker, be sure to fill one out.

[Carlidin]

I've never heard of such an agreement but be sure I will find out about it now.

[SELLITNOW]

Issues at Hand:
--Location -
centralized office vs. work from home
--Training -
See your Realtor Association
--Mentoring -
Via Phone
--Commission Split
75/25 (unless you do 4+ transactions/month - then 90/10
--Office Fees
E&O insurance - nothing else!


Is this the set up to leave or the set up to run to . . . ?
Wouldn't the answer depend on where you are in your career?
Newbies should . . . . [you tell me]
Veterans should . . . . [you tell me]