Real Estate

which brokerage to join?

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  • Feb 10th, 2021 10:19 am
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[OP]
Deal Addict
Dec 1, 2009
1109 posts
120 upvotes
Mississauga

which brokerage to join?

Hi,
Just passed real estate exams. Just need some guidance which brokerage should i Join?
So far I spoke with few borkerage
Royal lepage 90/10 with 125 fees and 1 % comission 0r 95/5 with 400 monthly fees
remax 300 monthly fees
century 21-90/10 split
homelife-90/10

also inquire from other new borkerage they offer 100/0 with fees.

If I join one brokerage and decide to change later . will i have to pay the RECO and treb fees again?
please guide.
also advise which one should i join where i get max benefit. I am planning to do part time then after an year do full time.


**********************
Hi If anyone looking to join a brokerage with no fees then pm me. I can refer to my brokerage.
Last edited by jeffdude87 on Aug 25th, 2020 3:58 pm, edited 1 time in total.
96 replies
Newbie
Dec 27, 2017
23 posts
4 upvotes
What was the split for remax ?
Was that REMAX Realtron or Hallmark?
Deal Expert
Jan 15, 2006
19110 posts
18968 upvotes
Richmond Hill
Fees are important, but you are way too focused on that alone. What about training, office support, pre-con leads?

Those to me are more important vs. Fees.
Sr. Member
Jun 18, 2004
785 posts
163 upvotes
Richmond Hill
Ask yourself: Are you going to do a lot of pre-construction or the resale market?

Not all brokerages are "equal" when it comes to doing pre-con. Some BoR are real good with Baker/Milbourne/In8/etc. Also they know some builders insider people. I used to work with a brokerage that the BoR is really hands on in terms of teaching me stuff. But we hardly get any pre-con units allocation even when I got a handful of clients on a specific project. Now I switched to another brokerage, I got agents of other brokerage reaching out to me to do referral deals because they simply don't have allocations. There's probably just really a handful of brokerage of there getting 1st release allocation. And a handful of special agents that gets allocation outside of those brokerage. That's why I switched to one that is within the 1st group of allocation now.

For resale, you may want to join one that has a strong neighbourhood recognition, and perhaps even join a team as well. They will teach you and bring you along.

If you thinking of making big $$$$ on your first day, then you're in the wrong industry. Fees and split isn't the 1st priority for you now. The back-end support/training and finding your style is the priority. When I first started my split isn't even 90/10, it is lower but I don't have desk fee. Now I have a good split but with a small desk fee. I don't require any of the training much as I am capable on my own. But I spent my first few years learning techniques to go up against different agents, finding my own style, and building a referral network.

I started full time on my first year. Its probably very busy, like 14-15 hours a day. Following around (no $$$), going to training (no $$$), looking at TREB data hours (no $$$), drive around area to get familiar (no $$$). That's my 1st year. But after the first 6 months, I picked up a few deals and my income was better than my normal job. Just be humble and continue to learn.
Deal Expert
User avatar
Aug 2, 2010
15196 posts
4987 upvotes
Here 'n There
I agree that the split it not the important issue at this point. I'm with a 90/10 brokerage with a bit of a desk fee because I thought it would be interesting to see what the so-called 'training' was and see if I could learn a few things, but that was not the case. Turns out that even though I do very few deals because I only take clients that are friends and family (this is just an side gig for me that I do just for fun) I've been teaching experienced agents a few tricks. That's likely because of my varied background and the fact they are creatures of habit. Just because agents in your brokerage have done things one way forever doesn't mean that's the way it necessarily should be done. I am proof of that. The industry has evolved quite a bit.

I'll likely switch later this year to a brokerage that costs even less. I might even ditch the TREB/CREA membership as I find I don't really need it. It's just an extra drag on my commissions.

I also agree that if you are thinking of making big $$$$ on your first day being an agent is not the way to go. That happens eventually. As the real estate course states in one of the first courses, the best skill a real estate agent can have is to know how to market yourself. You need to get those listings and find those buyers to represent.
Sr. Member
Nov 13, 2009
619 posts
301 upvotes
Oakville
Try Right At Home Realty.
They have good training for new registrant
you keep 100% commission
and their monthly fee is $89

If you have any questions, PM me
Sr. Member
User avatar
Feb 25, 2018
567 posts
215 upvotes
How many houses/properties does one agent get to sell at one time?
Jr. Member
Jan 19, 2018
105 posts
43 upvotes
I am in same boat as OP, i have just completed my real estate course and now looking to join a brokerage.
Till now i have spoken to 3 Real Estate Brokerages though the Brokerage suggested by mohammedessam seems to be the best bet. (Right at Home).

Does any body have any other sugestions or can provide some feedback on Right at home brokerage..

I have read that training and support are important factors when selecting brokerage, though not sure how to access them based on these factors.
Each brokerage i have spoken to, says they provide lot of training and have excellent support structure for new agenets...seems like same accross the board..

How would you select a brokerage, if you could give your top 5 that would be very helpful
Newbie
Feb 21, 2012
21 posts
3 upvotes
GTA
As suggested by others, in the initial stages training and support are of paramount importance rather than commission split. May be better for you if you chose a brokerage with minimal to zero desk fees. For sure, their split will be 80/20 or 85/15. But you pay only if you close a deal. No recurring monthly cost$.
I work with 85/15 split brokerage but the training and support is immense. Each week , there are 2-3 structured trainings for new comers.
____________________
Full Time Realtor
Deal Fanatic
Mar 27, 2004
7740 posts
5702 upvotes
Toronto
Look for a brokerage with no fees, and 85/15 split. Should be easy to find.

My brokerage offers that.
Last edited by oasis100 on Apr 2nd, 2018 1:44 pm, edited 1 time in total.
Full-time Realtor
[OP]
Deal Addict
Dec 1, 2009
1109 posts
120 upvotes
Mississauga
How much split does ipro offer?
Sr. Member
Mar 9, 2014
660 posts
667 upvotes
Ottawa
How easy/hard is it to switch brokerage after signing on?
Deal Addict
Jun 7, 2017
1043 posts
832 upvotes
BC
Increase your marketability, go back and finish high school first,
Member
Jul 26, 2015
360 posts
429 upvotes
Vancouver, BC
DaveVentura wrote: How many houses/properties does one agent get to sell at one time?
10-20 sales per year make it a sustainable job.
Anything below 5 sales per year is totally part-time/amateur
Deal Fanatic
Mar 27, 2004
7740 posts
5702 upvotes
Toronto
that guy has a license but does not really practice real estate. he may do deals for some friends and family but in his eyes its all easy money. probably the worst person to get advice from on here.

you have to pay crea and orea fees. treb you can avoid if your brokerage is not part of treb.
Full-time Realtor
Deal Fanatic
Mar 27, 2004
7740 posts
5702 upvotes
Toronto
eonibm wrote: I agree that the split it not the important issue at this point. I'm with a 90/10 brokerage with a bit of a desk fee because I thought it would be interesting to see what the so-called 'training' was and see if I could learn a few things, but that was not the case. Turns out that even though I do very few deals because I only take clients that are friends and family (this is just an side gig for me that I do just for fun) I've been teaching experienced agents a few tricks. That's likely because of my varied background and the fact they are creatures of habit. Just because agents in your brokerage have done things one way forever doesn't mean that's the way it necessarily should be done. I am proof of that. The industry has evolved quite a bit.

I'll likely switch later this year to a brokerage that costs even less. I might even ditch the TREB/CREA membership as I find I don't really need it. It's just an extra drag on my commissions.

I also agree that if you are thinking of making big $$$$ on your first day being an agent is not the way to go. That happens eventually. As the real estate course states in one of the first courses, the best skill a real estate agent can have is to know how to market yourself. You need to get those listings and find those buyers to represent.
what tricks are you teaching. just curious. since you dont get clients outside of friends and family.
Full-time Realtor
Banned
Aug 24, 2018
196 posts
119 upvotes
Go with an outfit that sells the top end property.

Starting out you're going to have no clients, and only get them from holding other brokers open houses. Better salary if you find clients on a 1.5M listing than a 400k condo.

Upcalls are pretty useless.

Live near where you're office is, if you go in frequently.
Deal Expert
User avatar
Aug 2, 2010
15196 posts
4987 upvotes
Here 'n There
oasis100 wrote: that guy has a license but does not really practice real estate. he may do deals for some friends and family but in his eyes its all easy money. probably the worst person to get advice from on here.

you have to pay crea and orea fees. treb you can avoid if your brokerage is not part of treb.
There is no requirement to pay CREA/OREA fees. All you have to pay is your RECO fees & insurance and the local real estate board but only if your brokerage is a member of it.

And you say I am the worst person to get advice from on here? You don't even know the basic rules!

One thing you are right about is that it sure is easy money. Acquiring clients (not my gig) is where the work is.
Deal Fanatic
Mar 27, 2004
7740 posts
5702 upvotes
Toronto
You won't be a very successful realtor dealing with others with no access to Stratus or anything else for that matter.
Full-time Realtor

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