New to site? Create an Account


Login

Lost password?

Already have an account? Login


Signup

Questions to Ask a Broker Before you Join an Office.

After selling 3000 homes and practicing for 28 years, I have been with 3 brokers. Here are some questions you should ask the broker:

  1. How long has the broker been in real estate? What are his/her accomplishments?
  2. Is there an office manual you may read?
  3. What is the net I can make?   (Commission splits?)
  4. Does the company have a 100 percent plan? What is the cost in writing?
  5. Does the broker have other splits available?
  6. For experienced agents with a prior sales history at what split will you begin?
  7. What is the broker’s commission policy? How does the breakdown apply to you?
  8. What is the commission turnaround time from closing to check-in-hand?
  9. Does the broker charge transaction fees to agents per deal side? What are they?
  10. List all fees: MLS fees, company fees, Omission and Errors, Board Fees etc…
  11. What is the number of agents in the office?
  12. How many listings do they generate a month? How many sales a month?
  13. What is the broker’s market penetration or saturation?
  14. What percent of the market does the broker control? What is the broker’s market share?
  15. What marketing does the broker’s company do? Where can you see it?
  16. What is the percentage of producers: top, middle and bottom?
  17. Request an Independent Contractor Agreement to read before signing.
  18. What are the monthly fees for desk, and services?
  19. Are there restricted farming areas?
  20. Can you use your own loan officers?
  21. Can you use your own closing attorneys? Inspectors? Handymen?
  22. What technologies does your office have available, and at what cost?
  23. What are the costs of color copies, binding materials, presentations, and support services available? Other costs?
  24. Does the office provide: desk, shared desk, cubicle or office space?
  25. Does broker provide or reimburse: stationery, letter head, farming materials, signage?
  26. What is the company’s Web presence: company e-mail, toll-free numbers, personal Websites? Cost?
  27. Voicemail, long-distance calling, call forwarding etc…? Who pays and what are the costs?
  28. Does the office provide: connection for PCs, terminals, printers, copiers?
  29. Are you required to do desk duty/ floor time , or answer phones?
  30. Are office meetings, caravans held, how often, and are they mandatory?
  31. What is the company policy on: assistants, advertising?
  32. What company training is offered? How often?
  33. Is the broker available to offer advice on contracts? Available weekends?
  34. If not, does the broker assign other experienced agents to assist you with contract questions?
  35. Does the broker offer a mentor program for new agents?
  36. How do I get leads? Make Money?

Kathy Toth, Toth Team Worldwide Network, 734-426-6669

Ann Arbor Neighborhoods

Ann Arbor Condos