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Old 02-25-2006, 12:52 PM
racecar racecar is offline
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Join Date: Jan 2006
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Default Re: Changing Brokers... advice

Hey... thanks for all the responses. I appreciate all of them.

I do not have any pending deals at the moment, which is precisely why I think this is the time for me to make my move.

I wrote that post from the office while I was doing my floor time. I came to the conclusion that I needed to know where and what I was doing before I said anything to my broker. It was nice to come home and have independent confirmation that I had made the right choice when I read what people wrote.

The 70/30 split that I was referring to was Realty Executives but I do in fact have an interview with KW on Tuesday. As far as negotiating a better split with my broker, I suppose I could but I believe it would be futile. It is a graduated split that escalates with sales, ultimately topping off at 85/15. The problem is the corporate fee of 6% off the top. It renders 85% to 79% and is non-negotiable.

My friend who got the brunt of my brokers anger went to Re/Max where she chose her split (75/25) has to fulfill an $18,000 cap and then graduates to a 95/5 split. Its got the location, location, location factor going for it big time. Right in the thick of a revitalized and thriving downtown. Lots of walk-ins. The higher cap and 5% may totally be worth it since my target market is urban-loft-culture but the whole "Re/Max is for more experienced agents" vibe gives me pause. But not enough of a pause to pass up an interview.

THE most important thing I got out of that marketing seminar ( and which is reflected here in the some of the comments ) is that I am not just a Realtor working for XYZ Realty. What I am is someone who is running his own business through a brokerage. It was a light bulb moment for me. It only makes sense, then, to run my business through a company with the most condusive terms provided they are a honest, eithical and full service brokerage.

I am glad I came to that conclusion sooner rather than later in my career.
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