7 Questions You Need to Ask During a Real Estate Brokerage Interview
For any job seeker, finding a new company to work for is as much about finding the right fit for you as it is anything else in the process. That's especially true when it comes to real estate agents, who typically work as independent contractors and often find different levels of support, fee structure, and commission splits at every brokerage they speak to.
With that in mind, here are seven questions you need to ask when interviewing with a real estate company.
#1. Are There Any Desk Fees?
This one's simple: should you expect to pay a monthly fee to use a desk?
#2. Errors and Omissions Insurance
Is this covered by the agent, or by the brokerage?
#3 Is There a Franchise or Marketing Fee on Top of the Commission Structure?
These range from four-to-10%. When you close the real estate deal, you're paid at your commission split minus this additional fee. During every interview, there comes a point where we end up speaking about commission. So what I really want you to do is understand not just what the commission is, but how much money you're going to be putting in your pocket.
Speaking of money in your pocket:
#4. Does the Brokerage Offer Marketing Dollars?
If yes, ask for a comprehensive list of how these marketing dollars can be used. And if you leave the company, do these marketing dollars need to be paid back?
#5. What Kind of Marketing Assistance Does the Brokerage Offer?
And does it come at any additional costs to the real estate agent?
#6. Is There 1-on-1 Coaching Available?
If so, how often do you receive this coaching? How often is it available, and does it come at an additional cost?
#7. What Level of Support and Assistance Do Agents Receive?
Let's face it, agent work is mostly out-of-office hours. You’ll want to understand if there's support available during the times you're going to need it most. Do you need help writing an offer? Are you looking for paperwork? Is there an issue? Please make sure you ask this important question. The last thing you want to happen is that you're left there on your own when you – or your clients – need help.
Next time you interview, remember these seven questions and set yourself up for success.
Interested in exploring a new brokerage opportunity? Check out The CHARLESGATE Agent Experience, and book a meeting with Brokerage Sales Manager Susan Doig to learn more about how CHARLESGATE takes care of its agents.