10 Questions to ask your broker when you get your real estate license in Missouri or Kansas City
When you get your Missouri real estate license in Kansas City one of the most important days in your career is when you decide which broker to hang your license with. You will quickly find out the getting your Missouri real estate license is just the first part in a successful career in real estate. When you are new, you don’t know what you don’t know. Here are a list of 10 questions that your broker should be able to answer:
- What do you have in place as far as new real estate agent training or mentoring? What does it cost? Show me your last 12 months metrics on the success of the program. How many agents enrolled, how many transactions over what period of time?
- Can I see a copy of your local and regional training calendar?
- What Strategies, Systems or Techniques are your agents using to outperform the average agent in the market place?
- What is the commission split? Are all agents on the same split? Why do certain people get a different split? Why can’t I get that deal?
- At what point in my dollar volume production do I truly get to keep 100% of my commission?
- Do you have hidden or added fees that I have to pay for if my clients will not cover them i.e transaction fee, administrative fee, additional marketing fee? If so, what do I get for those fees? When do they go away?
- How much of the owner’s profit did you share back with your agents?
- Would I be able to see the office’s financial statement? Are your books open to your agent population? Why not?
- When can I earn ownership in the office?
- Do I have a say in how the money that I contribute to the company is spent?
Now that I know which questions to ask my broker, what’s next?
Getting your Missouri real estate license is just the first step in a fulfilling career in real estate. Make sure you partner with a company that views you as a business partner and not just the customer. You want to find an environment and a culture that matches up with yours. When choosing an office to hang your Missouri real estate license with, be sure that the answers you get to these questions make sense to you.
-To your success.