Is it better to be an agent in a real estate office or branch out and open your own office? Pros? Cons?

I am currently an agent - I have been seriously considering opening my own office but I am wondering if it's worth it. I do like that idea that I would be a manager of my own office, however is this a HUGE headache that I do not want to take on?

Name recognition and brand recognition....going on your own doesn't allow you to utilize the Remax brand or the Coldwell Banker brand. If you don't have a big client list, stick to the name brand offices. No one knows who John Smith Realty is, but everyone knows Century 21. Its all about the sales. if you are managing your own office, you're not selling. Yes, agents working for you will bring in the commissions, but the overhead will kill you as will the lack of money from lack of sales. If you stay with the big companies, yes, you pay them a part of your commission, but their name works for you. As you make more sales, you negotiate with your broker to keep more commissions....ask yourself, do I want to rely on someone else to make me money?

In my are there are 2 different Century 21 real estate companies.I know the owner of one of them.

So perhaps you could franchise one of the Big name companies. This gets you the name recognition and the support of the larger company.

One thing that you stated toward the end of your statement that bothers me. You said that this is a huge headache that I don't want to take on. You have sub-consciously answered your own question.

When it cease to be a huge headache then you will probably be ready to open your own shop.

I am one to open my own shop and be on my own. With each adventure there are in grown problems that must be over came. That is just part of the business, if you consider them headaches you had better invest in Bayer's or your other favorite headache medicine.

it is always good to be in charge of your destiny. My father once told me that unless you are the lead dog the scenery never change. Become the lead dog.

If you live in California contact me I have assisted many people that want to open real estate offices as well as loan offices. Sometimes I will take equity in the business since I am putting my reputation out there and want to succeed as well as the person opening the business.

I hope this has been of some use to you, good luck.

"FIGHT ON"

I went thought this same thought process myself, several years ago. You need to ask yourself, what you would prefer doing for a living. Do you want to sell real estate or do you want to run a small business. The biggest issue that most real estate brokers must deal with is recruiting and supporting agents. If you thing that you could be really good at that, In may be practical to start up your own office. You should have a good financial support basis already in place. Generally you will always pay your agents their split, then out of the remaining portion, you will pay for rent, utilities, office support salaries, office supplies, etc. If there is any money left, you get paid. if you don't have enough agents to support all of these expenses, you may not succeed. In today's world, agents are getting a larger part of the commission splits. That means it takes more active agents to keep your head above water. Once an agent starts feeling confident in their own abilities that will leave to start their own office. It is a constant and difficult cycle. As an alternative, of you do like the real estate sales part of this business, and you are good at it, a better way to expand your own income may be to hire personal assistants to help you with your sales work. If they do all the time consuming paperwork and phone calls, you can be left with more time to generate business and service customers. If you would like to try your hand at the recruiting part of the business, I can show you a way to do that without starting out on your own. Write to Bruce at boatclub@go.com

personally, for me, I would NEVER go work at one of those big name realty centers...Why would I want to do all the work on a transaction then turn around and hand 50%-75% of MY commission to them, just because???? Sorry..I dont work to support others...So I work from home, have a direct branch contract and get to keep all my own profits. IMO its the only way... Good luck!

Why not just start a team up in an office? THis way you get the same rewards as a Broker, with out all the hassle?

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The only real estate company that offers profit sharing
GREAT company to work for, GREAT training on how to market yourself, in any market and how to start a team up of buyers agents and listing agents.

If you would like more info on a career with Keller Williams Realty, go to my web page http://www.pauld-kw.com and on the top you will see "Sell a Property" Click on that, then click on "A career with Keller Williams" I think you will be very impressed. You can also e-mail or call me and I will be more then happy to talk to you about Keller Williams or send you some more information. pauld-kw@hotmail.com

BEST of luck with your new career!