I have been considering getting into real estate. After reading the TREC website, my understanding is that it takes 210 hours of classes to get a sales license and 900 hours of classes and two years as a sales agent to become a broker. In order to work as an agent, the agent must also have a sponsoring broker. Am I missing anything? Also, how does one get a sponsoring broker and how much of the commission of each sale goes to the agent and the broker? Are there brokers that will sponsor a sales agent for a minimal amount of commission sharing and involvement?
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nevermind.
can't send you a pm.
shoot me an email. I am a mortgage broker and can put you in touch with a few people.
[email protected]
can't send you a pm.
shoot me an email. I am a mortgage broker and can put you in touch with a few people.
[email protected]
how does one get a sponsoring broker ------- There are lots of them out there, including me. Yellow pages. Google. Industry rags. Ask around when you take your classes. It's not hard to find one.
and how much of the commission of each sale goes to the agent and the broker? ----------- Negotiable
Are there brokers that will sponsor a sales agent for a minimal amount of commission sharing and involvement? -------- There are plenty of options out there as far as commission splits go. The "involvement" issue is a bit thornier. When you conduct business with a Salesman's License, you are actaully doing all your business in the name of your sponsoring broker. That means that if you mess things up, your broker can end up getting sued, or even worse, losing his license. And yes, it does happen.
I'm not recommending these guys, but The Michael Group is an example of broker where you can hang your license for $79/month and a $179/transaction fee. The rest of the commission is yours to keep.
Bernard
and how much of the commission of each sale goes to the agent and the broker? ----------- Negotiable
Are there brokers that will sponsor a sales agent for a minimal amount of commission sharing and involvement? -------- There are plenty of options out there as far as commission splits go. The "involvement" issue is a bit thornier. When you conduct business with a Salesman's License, you are actaully doing all your business in the name of your sponsoring broker. That means that if you mess things up, your broker can end up getting sued, or even worse, losing his license. And yes, it does happen.
I'm not recommending these guys, but The Michael Group is an example of broker where you can hang your license for $79/month and a $179/transaction fee. The rest of the commission is yours to keep.
Bernard
It is not hard find a sponsoring broker. Decide what real estate comapanies you might be interested in and call to make an appointment with the brioker or office manager.
RE/MAX charges different prices for being sponsored usuaslly a 70/30% split upto $00000.00 with $xxx.00 in a monthly fee. Also charges 1-5% fee during and after split.
KW charges 70/30% with a royalty fee of 6%. Plus a monthly office fee of $000.00.
Go somewhere that has TRAINING like KW learn and then explore your options. This is a little simplified but gives you an idea.
I ma in the DFW area nad things are GOOD> have three prpoerties contracted closing onthe 31 of July. Properties in the area of 100-199900. are moving in about 90 days.
RE/MAX charges different prices for being sponsored usuaslly a 70/30% split upto $00000.00 with $xxx.00 in a monthly fee. Also charges 1-5% fee during and after split.
KW charges 70/30% with a royalty fee of 6%. Plus a monthly office fee of $000.00.
Go somewhere that has TRAINING like KW learn and then explore your options. This is a little simplified but gives you an idea.
I ma in the DFW area nad things are GOOD> have three prpoerties contracted closing onthe 31 of July. Properties in the area of 100-199900. are moving in about 90 days.
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