FAQ: How do I find a real estate broker to work for as a real estate agent?
As a real estate agent, you must work under a sponsoring real estate broker. Your sponsoring broker will actually hold your license. This is required by law.
When it comes time to selecting your sponsoring broker, there is one point to keep in mind:
Most brokers will be more than happy to hire you, even if you are just starting out!
Don’t worry if you don’t have any prior experience. Your broker will provide you with training and look to help you grow into a successful agent.
You have to understand that all commissions you earn will be split with your sponsoring broker.
Commission splits between an agent and their broker are always negotiable.
Some brokers will want to do a 50/50 split with you as a new agent. Some brokers will start at a 60/40 or even 70/30 split.
There are even brokers who will give you 100% of the commission and instead only charge you a monthly desk fee.
But when selecting a broker, you should also consider if they will offer extensive training and support. It may be better in the short run to go with a broker who will give more attention and support in exchange for a 50/50 commission split, rather than a higher 70/30 split.
Here are the steps you should take to find the best broker for you:
1) Google brokers in your area. Make a list of 10 brokers who you think you would like to work with.
2) Reach out to those 10 brokers (either by phone or email) and explain that you are about to get your license and are looking to work under a sponsoring broker.
3) Schedule interviews with 4 or 5 of the brokers.
4) During the interview, ask them about their commission splits, how much training they offer, and if they help provide you with leads/clients right away.
5) Finally, select the broker who you think would be a good fit for you and your real estate goals.