Joining a Zero Broker Split Real Estate Firm
You will find quite a crowd of real estate brokers everywhere in the U.S. today. They will usually take at least 30% of their agents’ commissions to run their business and, of course, to pump up their profits. If you’re an agent looking for a more financially and personally fulfilling career in the real estate industry, consider joining a firm that allows you keep most – if not all – of your commissions to yourself. Absolutely, the firms are for real and they have benefited many with their groundbreaking approach.
So how do yo work with any of these brokerages? As you might expect, the process can be unique for each firm, but more or less, this will probably be the flow:
Selecting a Plan
As your first step, you will need to pick a plan that you think works best for you. If you’re a newcomer, take one of the most affordable options so you can save some cash if you make less sales than you had hoped.
If you’re an experienced agent, on the other hand, a pricier plan will offer you savings on all closed transactions, thus increasing your total earnings. Sometimes, you may not find an option that actually aligns with your goals or expectations. If that’s the case, the brokerage will usually allow you to make an offer. What this means is that you have more room to grab more gainful opportunities.
Adding Your License and Contact Information
This is going to be as simple as typing in your name as well as your professional license number. If you have no number yet, by all means, get one. It’s another easy process, though not that quick. To receive word that you have been approved, you also need to enter your contact information (phone number, email address, etc.). Make it a point to check if you have entered current information.
Answering More Questions
It is a given that the brokerage you’re applying to will want to know more about you. They will ask more questions and you are expected to answer them as honestly as possible. 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
Finally, take time to study the brokerage’ guidelines and policies and signify 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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