• Home
  • |
  • Blog
  • |
  • Important Questions to Ask a Potential Sponsoring Broker

Important Questions to Ask a Potential Sponsoring Broker

Angie Shipe October 18, 2013 0

Business confusion

One important step (and necessity) in starting your real estate career is the selection of your sponsoring broker. Company philosophies and policies vary, so it is important that you interview several brokers. Remember, you are interviewing the firm as much as they are interviewing you. Don’t hesitate to ask questions. A good way to get the essence of a real estate office is to tour the office, attend a sales meeting and speak to other agents in the office.

  1.  Can I get a copy of your policy and procedures manual?  Can a get a copy of your E and O insurance policy?  Can I get a copy of your Independent Contractors Agreement?
  2. What is the commission split that you start agents at?  Is there a chance to increase that?
  3. Do you provide training?  How much and in what format?  Is there a cost?  If so, how  much?
  4. Do you offer a mentor to your new agents?  What will be the availability of that mentor?
  5. What direct access will I have to you?  Do you have a set schedule of availability for your agents?
  6. Do you advertise?  Where and how often?
  7.  How many listings does this office currently have?  What is the average sale price of these listings?
  8. How many full time agents do you have?  How many part time agents?  What is the turnover rate?
  9. What is the average income of the full time agents in this office?
  10. What marketing materials do you provide agents?
    • Announcements
    • Just listed
    • Just sold
    • Just participated in a sale
    • Door hangers
    • Free market analysis
    • Brochure of the company
    • Company letterhead
    • Legal size pre-printed shells for my flyers
    • Letter size, heavy shells for color brochures
    • Is there a cost to me for this material? If so, how much?
    • Who pays for the postage? (Bulk and Individual)
    • Web pages
    • Prospecting tools

 

Leave A Response »