After you obtain your real estate license, you must work under the supervision of a licensed broker-in-charge for a certain amount of time before you can open your own real estate business. So you will want to find a reputable real estate firm as soon as possible. Technically, you are interviewing for a job, but it is more complicated than that.
In a sense, you and the broker are interviewing each other. You are also evaluating the broker to see if he or she will be a good fit for you. The trick is to know what your goals are and to find the agency that will help you accomplish those goals. There are some steps you can take to make sure you have the upper hand during the interview.
Is this agency right for you?
The first thing you want to do is to find several agencies you might like to work for. You can do this by noticing the for-sale signs of the agencies who work in your area and checking local real estate magazines and TV ads to get a feel for the tone of each agency. Do your research to learn of the reputations of the firms and how happy other agents are to work there. Call and request interviews with several agencies even if they are not actively hiring.
Prepare a list of questions for the interview. This will have the two-fold benefit of projecting your confidence and desire to succeed along with allowing you to learn critical details about each firm, such as:
- Does the firm offer important opportunities for training, such as paying for classes or providing a mentor?
- Does the firm have a high turnover, or have its agents have been with the company for years?
- How does the firm handle floor duty, walk-ins and phone leads?
- Does the firm pays for any portion of marketing and advertising for your properties?
- What equipment will the firm provide, such as a laptop or cellphone?
- What office expenses will you have to pay for, such as tech fees, postage, copies or business cards?
- What rate of commission will you receive, and what might be an estimate of your first year’s income?
These are just a few points that will help you get a feel for the environment of an agency and how committed the broker is to helping new agents find success. Of course, the true success of your career in real estate depends on the amount of time and effort you are willing to put in. You can use your interview to impress a potential broker-in-charge with your determination to do what it takes to succeed.