Jun
3
Questions you must ask potential brokers before you choose a company
Posted by Heidi Greer Mosher under For Realty Professionals
1. What is the branding belief of the company? Does the company require an agent brand the company or are they free to brand themselves? Keller Williams believes you own your business, your contacts and your image. Branding is extremely important and business owners should brand themselves. Real estate is a people business driven by each agent’s individual reputation. 2. Do they have specific requirements for cards, signs and marketing materials that are company branded? What phone numbers go on my cards and signs? Keller Williams believes each business owner should have the freedom to market their own image with their own contact information. 3. Is your company national so that I will have relocation and referral opportunities? Keller Williams is a nation-wide company, offering huge opportunities to network and build referral relationships. Relocation business is very healthy at Keller Williams! 4. What is the process for handling website leads? Is there a percentage of commission paid to the company for website leads, even if they inquire about one of my listings? Keller Williams never captures leads to sell back to agents. All leads are automatically filtered to the agents free of any company charges. 5. May I see your Independent Contractor Agreement? What happens with my contracts, listings, and buyers if I decide to leave the company? Keller Williams believes people stay with a company because they are happy, not hostage. Keller Williams releases your business to you and if under contract, pays you as if you were still here. We keep the door open for 9 months so that when you choose to return, you have not lost your email address, website address, etc… 6. What commission split will I have? Does the amount paid to the company have a cap? Keller Williams offers a 70/30 split that caps at $18,000; thereafter, you receive 100%. Like other franchise companies, we do have a 6% royalty fee that caps at 3K. As your production increases, you have the option of changing your split, but you will never pay a penny more than your cap. If you do not reach your cap in an anniversary year, you are not responsible for paying the difference; you simply begin with a fresh slate. 7. What are the hidden costs? What are the monthly personal charges I can expect after signing up? Are there transaction fees due to the company? How much do I have to pay for an office? Keller Williams does not have any hidden fees. Your $53 per month covers your programs, tools and resources to give you every benefit for a low, pass-through cost. You will have tools such as Virtual Office, Active CMA, Email Alerts, Realfast contract software, REALTOR.com showcasing and enhancement, Centralized Showings, Realbiz 360 (unlimited high definition virtual tours), A dynamic customizable website, Efax, online classes, and more! There is a $50 transaction fee to cover administrative costs. We recommend you charge $199 and use the additional $149 to leverage your marketing dollars. Private desks are very affordable at $75 for a large desk and $35 for a small desk. 8. What are the core values of the company? Does the company have a value statement, mission statement and vision statement? Keller Williams is a win-win, integrity based company. Our value statement is clear – God, Family, Business; in that order. Our mission statement is very important – To build Careers worth having, businesses worth owning and lives worth living. It says it all. 9. Does the company provide marketing materials and templates for Listing and Buyer presentations, postcards, and flyers? Is there more? Keller Williams provides all the tools you will need to go on an appointment today. We will help you with your flyers, postcards and a multitude of marketing resources. 10. What kind of support can I expect? Do you have a Mentor or Coaching program for new agents? Do you have a coaching or consulting program for all experience levels? Does it cost me to participate? Keller Williams Northwest has an excellent Intense Coaching Program with a full time career development coach. You won’t find better support anywhere else. The intense coaching program for new agents is affordable at 10% for your first 5 transactions. Following your first 5 transactions, our career development coaching as well as personal consulting is available at no additional fee to all Keller Williams Northwest agents. 11. Do you have company ownership opportunities? Do they have any Passive income opportunities? Keller Williams Northwest has a limited number of ownership opportunities. Passive income opportunities are abundant at Keller Williams through-out the country. We share our profits with our associates, distributing approximately 47%. During 2008, we shared over 30 million dollars with our associates! 12. What training can I expect over the next 90 days, 6 months, year, 2 years, 5 years, or even 30 years? Do they have a Master’s Training program where you can learn to be a Millionaire Real Estate Agent? As an educational and consulting based company, training opportunities never end. We offer a master’s program and will teach you high level techniques to structure your business so that if you desire, you will be a millionaire real estate agent!
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