If you are considering starting a real estate career, one of the first things to consider should be the cost versus value that the local real estate companies offer. Whenever you’re beginning a new adventure, and a career in real estate is certainly an adventure, knowing your best opportunity to succeed is crucial.
What are the costs of starting your real estate career?
There are several costs to starting a career in real estate that you’re going to pay regardless of which company you align with; multiple Listing Service (MLS) dues and Realtor fees are simply costs of doing business. The costs that vary are training or coaching, office fees and commission splits. There are several local real estate companies that offer their agents very low fees, and in return offer very little of value. Any time that a company offers 100% commission splits in exchange for a monthly fee, be diligent in determining what you get in return.
What is value in choosing a real estate broker?
If you’re new to real estate, finding the right real estate training courses is perhaps your greatest item of value. Learning how to write a contract, what marketing terms to use, and other such “training” can be found anywhere, but won’t give you the successful career in real estate that you undoubtedly desire.
At Keller Williams Realty, the real estate classes that you receive will truly prepare you for running your own business, not simply having a job in real estate. Notice the word “receive.” One of Keller Williams’ biggest value propositions is our education; regardless of whether you’ve been in the real estate business for decades or you’re just starting your career in real estate, education is essential.
Many real estate coaching programs cost upwards of $1000 per month, and upon earning your real estate license, you’ll no doubt become inundated with offers of real estate classes, programs guaranteeing your success, and “silver bullet” remedies.
At Keller Williams Realty Gig Harbor, our agents step immediately into group or individual coaching, at no cost! Group coaching can be especially beneficial for brokers just beginning their career in real estate. Another of our value propositions is the Keller Williams Culture, and part of that culture involves sharing ideas, participating in mastermind sessions and supporting each others’ businesses.
Many people just starting out get hung up on the costs with questions like, “how much money do I have to pay to the company?” The real focus should be on value, resulting in questions like, “how much value does the company provide to me?” Saving money by joining a discount real estate brokerage doesn’t do any good if they don’t help you earn money; 100% of zero is always going to be zero!
Choosing a brokerage in one of the most important decisions you will make in your new journey; make sure you evaluate the cost versus value when you are starting your real estate career and you should have no troubles with building a successful business.