Questions To Ask Your Broker or other Real Estate Companies
If you are interviewing other real estate companies, ask them these important questions:
What is your company mission statement?
What is your company vision statement?
What is your company belief system?
Are your classes available on the internet?
Do you offer accredited Training?
Who makes decisions on a local, regional & national level within your company that will affect how your firm is run and that will affect my business?
Do you have a leadership group of agents within the company that together work with ownership to make decisions on how the company is managed?
Do any of your in-house education offerings include designations?
Are there franchise fees? If yes, do they have a “cap”?
If there is a “cap” on the amount, I pay the company, what if I do not produce enough to meet the cap? Is the remainder forgiven?
Can your associates review ALL the financials for your company and could one review them prior to making a decision to affiliate?
What type of “structured” training does your company offer for: New agents? Experienced agents? Mega/Top agents?
Do you Profit Share with your agents? If so, how much last month and YTD?
How often is your training available & what is the cost?
What types of tools, systems, training, education & models has your company developed to assist agents in making their first sale? Taking their business to a completely new level?
Would I be considered a true “partner” or “stakeholder” in this company?
May I review your Independent Contractor's Agreement & Compensation Plan?
If one were to leave your company, may they take ALL their listings? And would commissions be impacted on any pending escrows?
Do you have a system in place that rewards me if I was able to help grow the company? Tell me in detail how that system works.
How does your company view “Team Building”? Would I be encouraged and trained to add assistants/sales staff to my real estate practice? Would there be additional fees for assistants?
Does your company have a relocation department that “sells” leads back to your agents? Or do referrals go direct “agent to agent” for a more typical 20-25% referral fee?
Do you have a charitable foundation set up to contribute to community needs? National needs? Needs of agents in the company?
Make sure the Broker/Owner/Management can back up any and all statements. Take a “show me” attitude! Do not be shy; this could be the most important business decision of your life!
