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Newly Licensed Salesperson |
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I have passed my state exam for a real estate salesperson. I will begin interviews within the week and it seems everyone and their mother has advise for me, and of course most contradict the others advice. As you can imagine I am feeling a bit overwhelmed but it does help knowing I will be doing most of the interviewing. What should i ask in these interviews? What should i look for in a broker or company? What should I expect in these interviews?
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As you probably realize already, most brokerages take on salespersons as independent contractors, with compensation based on a share of commissions earned. So you needn't ask any questions about health insurance, paid vacations, salary or the like because they'd violate your indpendent contractor status.
Ask first what practical training you'll be offered, now that you've learned all the basic technical stuff. There's no one right answer -- it could be regular classes with a large brokerage, or one-to-one mentoring in a small office.
Ask about "floor duty", when you're answering the phone or greeting walk-ins. Who gets the leads that those bring? How much floor duty will you be offered? What about helping out if some agent needs to hold two open houses at the same time -- could you take potential buyers who come in as your own customers for other properties?
Ask if the office has errors and omission insurance and whether it would cover you. Would it cost you? Ask what expenses you will incur joinng the local Realtor organization or multiple-listing system.
Ask about the firm's web presence.
Ask about the "split" you'll be offered--what share of commissions that you bring to the company will be yours? (If you hesitate to talk about money, you're going to have trouble in real estate!) Is there a sliding scale, where you receive a larger share after you're experienced and needing less supervision?
Ask about office meetings, how often held and could you sit in on one?
You're looking for a company that suits your own temperament. Some are high-power and competitive, others laid-back and cooperative. Try to join an organization that moves at your own best tempo.
Good luck! |
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Edith
Originally published on November 28, 2007 |
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