How to Join a Zero Broker Split Brokerage
The U.S. real estate industry is hardly short of brokers nowadays. Most of them will take at least 30% of their agents’ commissions to raise their profits and pay for their costs. If you’re an agent in search of more financially and personally rewarding opportunities in the real estate industry, joining a firm that will give you your commissions in full – or at least almost – could be the answer. Yes, there are such firms and a lot have gained and still gain from this revolutionary approach.
So how do you join one of these brokerages? Every firm will have its own process, but all of them will probably go by the following general steps:
Picking a Plan
As your first step, you will need to pick a plan that you think works best for you. If you’re a newbie, you should consider taking one of the least expensive options so you can save cash if you fall short of sales target.
On the other hand, if you’ve been raking in sales over the years, a plan with a higher monthly fee can save you money on all closed transactions so that you end up earning more. Sometimes, you may not find an option that makes perfect sense. In that case, most brokerages will encourage you to make them an offer. That means you will have more liberty in pursuing more earning opportunities.
Adding Your License and Contact Information
Here, you simply add your name and professional license number. If you still don’t have a number, it’s about time you get one. The process is easy though a bit time-consuming. To receive word that you have been approved, you also need to enter your contact information (phone number, email address, etc.). Double-check if the information you have added is current.
Answering More Questions
More information will usually be asked from you when you apply to a brokerage. You have to answer more questions and you need to answer them honestly. For example, they may want to know about the realtor organization you’re affiliated with. If you don’t have any group you belong to yet, the brokerage may still consider you as long as you show an interest in joining one soon. And it won’t be a problem even if you decide to join or have already joined an organization that the brokerage isn’t part of.
Mastering the Rules
Lastly, you need to go over the rules and policies of the brokerage and indicate your agreement to them. Once you’ve checked the “I Agree” box, you’re good to go. Then you’ll have to wait for the firm’s response.
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