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This was my first week looking for a broker, and I plan on documenting this journey here on Real Town, so that maybe it can be of some if any help to other new agents out there.
I've wanted to become a Realtor for quite some time now, but only last summer, actually in May, I finally took the first step towards earning my real estate salesperson license. At first I thought I could succeed studying on my own, at home, just by reading the books, but it didn't workout that way. I couldn't concentrate, I wasn't learning anything no matter how many times I read the material. It took me 6 or 7 months until I decided to attend classroom classes. In December I went through a two week program (pre-licensing), and I took my Final Exam the week before Christmas. It took me a couple of trials, but you can keep taking the exam until you finally pass it, so after 2 hours or so of trial and error, I finally passed the exam. Two weeks later I took my PSI, in Richmond. What a day. I am really bad with directions, and I had it all written down, but I took a wrong turn in Richmond, and drove around for almost 2 hours, and with the help of my husband on the phone (he's my GPS), I finally got to PSI, and even though I was 15 minutes late, they let me take the exam anyhow. I was so distressed. That time, I still managed to pass the State but failed the National portion of the test.
I rescheduled it for the next week, first week in 2008. I had it all planned out to have it all done before the end of the year, but it didn't happen. This time I passed the PSI, and oh my god, I was so excited, I cried, and I called everyone to let them know I passed.
I waited a week or two until I finally went looking for a broker. Which brings us to this week. I had family over last week, and wanted to be able to forget all about PSI, exams, Real Estate, and just enjoy the fist week of 2008. I had been struggling with the exam for so long, studying non stop that I felt like I deserved a break.
The day after I passed the PSI, I went to company A's website, and took their Real Estate Simulator. Last week I was contacted by one of their director of career development, saying that she liked the results of my test (the online simulator), that it was above average and that she would like to meet with me. I met her on Thursday. She told me all about their wonderful training, and the benefits of working with them, and overall the interview went pretty smoothly. We met at Company A's office in Newport News, and I was introduced to their Office Broker, a really sweet guy. I scheduled an appointment/interview with him for next Thursday morning. The night before, 2 days ago, I emailed a total of 25 real estate offices in the area, letting them know that I just passed my PSI and telling them a little about myself and that I was looking for a broker. While I was meeting with Mrs. Director of Career Development at Company A's, I got 2 calls from 2 other brokers (which went straight through my voicemail).
I get in the car and listen to my messages. Broker B' with Company B is out of town in a real estate seminar but she'll have her admin call me to schedule an appointment for next week. Her admin calls me and we scheduled our interview for next Thursday, right after I meet with Broker A from Company A.
Broker C with Company C in Hayes calls me not too long after that, and says she'd like to meet me, and we scheduled an interview for yesterday right after lunch.
When I got home from that first interview with Company A, I had received 2 emails. One from a local company here in Mathews, which we'll call Company D. Broker D said he'd like to meet me for an interview, but that he was busy yesterday and throughout the weekend, but wanted to know if Monday would work for me. I emailed him back and we set up an appointment for Monday morning, before I have to be at work (I work at the local library from 9-5 Monday-Wednesday).
Another broker, Broker E, with Company E in Hayes emailed me too saying she'd like to talk to me in person. I called her back later asking what the best time would be for us to meet. We decided on yesterday (Friday) in the afternoon, right after I met with broker C, which is almost across the street from Broker E.
This morning I got an email from Company F, where Broker F says he'd be glad to talk to me about the possibilities. Company F has offices in Urbanna, White Stone, Deltaville, Mathews & Lively. They have 33 agents listed on their website. They seem to do a lot of business around here.
When I first started looking for a broker, I was really excited about going with a larger company, a franchise, but after the 3 interviews I've had so far, I think I am going to settle for a local, smaller company, that has an office here in Mathews, which is where I want to do business.
So, yesterday at 1pm I met with Broker E at Company E in Hayes. I loved their building, how homey it is, all the desks and rooms, its location and the broker herself is such a pleasure to talk to. We talked a lot, I was not handed out any programs or brochures, but I asked her if she had an Office Policy, and she promptly handed me a copy, which I'll return to her when I'm done reading it. She was very straight forward, answered any question I had. I loved talking to her, she made me feel at ease, and made me feel better about starting as a part time as opposed to full time. I was having second thoughts after meeting with broker A and being told they only hired full time employees. I left the interview with a really peaceful feeling that I would be alright, and that I don't have to starve myself to death through the first few months of my real estate journey.
Right after I left, I drove across the street to meet with Broker C. Company C is a franchise, and their office in Hayes is a really nice office. Everyone I met there was very pleasant. That office has 23 Agents, and they all have their office.
Company C, just like Company A offers an excellent training program, but their is a 1 week program and it is not mandatory. They do encourage agents to go through training though. She told me that they do not hire part time agents, but at the end of the interview she said that since I work Monday through Wednesday now, that if I could get 3 mornings off work, for a week that it might workout, since I can still get leads and meet people at my current job, that as long as I showed up for office meetings on Thursday mornings and if I could work the other days (Thursday, Friday & Saturday) that it just might work.
I would love to work for them, but even though they have a lot to offer, besides the name/franchise, there is a lot of extra cost involved. Under their "New Agent Start Up Costs" sheet are the following items:
- NAR dues $64/$48/$32/$16
- NAR Public Awareness Campaign Assessment $20
- VAR Dues (State) $90/ $67.5/ $45 / $22.5
- VAR Processing Fee (One time Fee) $15
- Capitol Replacement Fund (One Time Fee) $33
- Issues Mobilization Fund (One Time Fee) $10
- CBARAR (Dues) $120/ $90/ $60/ $30
- Realtor Member Application Fee (One Time) $50
- New Agent License (One Time) $170
- E&O Insurance $150 (fall)
- MLS Key Deposit (One time) $150
- Business Cards (First 1,000 free)
- Name Badge (first one free)
- Their Start up fee (Reimbursed on 1st Closing) $100
It all comes up to almost $1,000 Plus gas from Mathews to Hayes, and all other costs, I am not sure I could handle it just now (after Christmas and all). But overall, it seems like a great company to work for, the office is excellent, conveniently located (nor for me though, if I want to run my business in Mathews, I'd have to drive my clients all the way to Hayes to write contracts and close and all that good stuff
Well, I think I'll have to have a part II for this post, because I have stuff to do and I need to get outside enjoy the beautiful snow!!
To be continued...
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