Posted by Tim Fierro (Tacoma, WA) on April 10, 2002 at 17:19:23:
Not any longer. I think most independent type firms will take anybody now-a-days. I have seen newbies enter our office with no experience and I have also seen recruitment notices from other independent firms looking for agents that said they didn’t mind experience. My thought is that the broker (company) is more concerned with income being generated from monthly fees as their primary reason for having as many agents as possible. As long as you are paying your ‘shingle fee’, they don’t care if you do 1 deal or 100 deals; their cut is still the same at a 100% office.
I even heard of a company who would take $1500 up front and no other fees. They would only take 3% of all business brought in. If you bring in a $5k check, they take 3% of that for their portion and you get the rest. This sounds pretty good for a newbie. They get 97% of everything they bring in but they have to put an up front money of $1500 to be a part of the broker’s agents. Newbies may have mentoring deals when they start where they would lose 25% to a fellow agent which would easily cover that first $1500 instead. They didn’t have a requirement of experience so they may accept newbies in the field.