Posted by Maxx(TX) on June 19, 2003 at 08:33:48:
When I first shopped for a broker, I looked in the wrong places… Dont get me wrong, they were very strong RE Brokerage firms, generates large amount of transactions, but their objectives were not inline with mine. When I told them that I am an Investor, that was when the picture turned on me. With that in mind, I knew this place wasnt right for me because it didnt have the right synergy.
I finally found the broker when he mailed his marketing/ recruiting flyer. He has 3 commission schedules:
-1. For new agents who is just starting out. 80/20 split. Max = $800 / mth. Rest is mine.
-2. For agents who just turned full-time. $75/mth flat-fee with $150 per transaction + $30/transaction E&O. Keep the rest.
-3. For seasoned agents: $300/mth flat fee & $30/transaction E&O.
Keep the rest.
Investor-frienly?? Of course, he’s an Investor/ Property Manager himself.
Here’s how one of my RE Friend got started:
She found her broker because she was getting loans from him. He happend to be a RE Broker and Mortgage Broker. He sponsered her with no plans, no what-so-ever. She gets all her commission. I asked her, Why would her broker do that? She replied, He told me that when he got started, someone nice helped him out that way and now it’s his time to repay the kindness." My friend vowed to do that when it’s her turn…
Here’s what you could do. If you have a local REI club, please join it. There will be agents there who like you, think outside the box. That will be a good place to start.
Investor first, agent second.