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So you’ve just gotten your real estate license and now you’re looking for a broker to sponsor you. It can be tough to know where to start but don’t worry, we’re here to help! In this blog post, we will outline the steps that you need to learn how to get sponsored by a real estate broker that can help you launch your real estate career right off the bat.
Although your broker may not be the most important thing when it comes to success as a real estate agent, who you choose to go with as your first ever sponsoring real estate brokerage can have an impact on how fast your business can take off as a new agent.
Table of Contents
What is a Sponsoring Broker
In order to become an active real estate agent after getting your real estate license, you must be sponsored by a real estate brokerage licensed in your state.
The sponsoring broker is the brokerage that you choose to work with and is responsible for ensuring that you meet all the requirements to legally practice real estate in your state.
Why Your Sponsoring Broker Matters
A sponsoring real estate broker can offer new agents support and opportunities that can make them more successful.
For example, a broker can provide new agents with training on how to generate leads, create successful marketing campaigns, and how to write contracts.
In addition, a broker can introduce new agents to other real estate professionals, such as lenders and home inspectors.
By working with a good sponsoring broker, new agents can gain the skills and knowledge they need to succeed in the competitive world of real estate.
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How to Get Sponsored by a Real Estate Broker After You Get Your License:
1. Do your research
2. Consider what’s important to you
3. Ask around
4. Narrow down your choices
5. Interview potential sponsors
6. Go with a Sponsor that Supports You in Your Goals and Dreams!
1. Do your research
Choosing a sponsoring broker is an important decision for any new real estate agent. There are a few things you should keep in mind when doing your research.
First, look for a broker who is experienced and has a good reputation. You want a brokerage that can provide guidance and support as you start your career. Second, make sure the broker is licensed in your state and that they have the appropriate insurance. This will protect you from any liability if something goes wrong.
Finally, consider the commission split and fees that the broker charges. You want to make sure you are getting a fair deal.
Just like with any decision in business, the best decisions are made after researching all of the facts. Make your decision based on facts and not theory and opinions.
2. Consider what’s important to you
When you’re ready to get sponsored by a real estate broker, there are a few things to consider. First, think about what’s important to you.
Do you want a large brokerage with lots of resources and opportunities to grow and learn from top agents around the world or a smaller one that may be more intimate where you get to work with your coaches, partners, and mentors more closely each week?
Each brokerage offers something different, so it’s important to choose one that’s best suited for your needs. There is no perfect brokerage, but there is one that’s perfect for you. So take your time, do your research, and choose the one that feels right. You’ll be glad you did.
Pro Tip: As a real estate agent you will want to access to your local MLS which costs a fee, although some brokerages provide you “free” access to your local MLS, most of the time they are actually factoring the MLS fee into either your monthly desk fee or commission splits.
Make sure you do a full-on math comparison of the different brokerage models in your area to get a full understanding of where you can earn and KEEP the most money from your commissions.
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3. Ask around
One of the best ways to find the perfect sponsoring brokerage as a new agent is to ask for recommendations directly from the source.
Ask around, either online or agents that you know locally.
First, try asking around locally or on forums and Facebook groups. You may be able to get some good recommendations from people who have already been in the business for a while.
Another option is to attend some open houses and meet with different brokers and agents. This way you can get a feel for how they operate and see if they would be a good fit for you.
Once you’ve found a few potential brokers, take your time to interview them and ask plenty of questions. By doing your research, you’ll be sure to find the perfect Illinois real estate sponsoring broker!
4. Narrow down your choices
Now obviously as a new agent, you will want to start your business as soon as possible and probably don’t want to spend a lot of time interviewing every single brokerage possible so it is important to narrow down your choices.
There are a few key things you should look for when narrowing down your choices for a Illinois real estate sponsoring broker broker. The first is how long the broker has been in business. You want to choose a brokerage that has been in business for at least a few years and has a good reputation. This way, you know they will be able to provide you with the resources and support you need as a new agent because they would have had experience with other new agents in the past.
Another important factor to consider is what type of training and support the broker offers. As a new agent, you will need all the help you can get so it is important to choose a broker who offers plenty of training and support. They should offer regular coaching sessions, have an experienced mentor program, and provide access to resources that will help you grow your business.
Last but not least, you want to consider the sponsorship sales commission structure splits and fees that the broker charges. Obviously, as a new agent, you want to make sure you are getting a fair deal. Make sure to do your research and compare the different commission splits and real estate sponsor fees of each brokerage before making your final decision.
5. Interview potential sponsors
When choosing a sponsoring broker Illinois, new real estate agents should interview potential sponsoring brokers. As we mentioned earlier, there are many things to consider when choosing a brokerage, such as how much experience the broker has, what type of training they offer, and what kind of support they can provide.
However, one of the most important things to consider is how well the broker understands your goals and how willing they are to help you achieve them. A good broker will be able to provide advice and guidance based on your individual situation, and they will be open to hearing your suggestions and feedback.
The relationship between an agent and their broker is an important one, so it’s crucial to choose someone who you feel comfortable working with. By taking the time to interview potential brokers, you can ensure that you find the perfect fit for your needs.
There are a few key questions that you should ask during your interviews, such as:
– How long have you been in business?
– What type of training and support do you offer?
– What are your commission splits and fees?
– What are your thoughts on my goals?
– How can you help me achieve my goals?
By asking these questions, you will be able to get a better understanding of how the broker operates and if they would be a good fit for you.
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6. Go with a Sponsor that Supports You in Your Goals and Dreams!
When deciding which brokerage to align with as a new realtor, it’s important to consider what your goals and dreams are.
What kind of lifestyle do you want to create for yourself by becoming a real estate agent?
Once you have a clear idea of that, you can start looking for a brokerage that will support you in achieving those goals. Look for one that provides the tools and resources you need to succeed. Make sure they have the resources and the opportunities to build a business that can provide you with the lifestyle you want to have.
By aligning yourself with a brokerage that supports your goals and dreams, you’ll be well on your way to creating the lifestyle you’ve always wanted.
Lastly, remember that you are not tied down to one brokerage for the rest of your career. Most real estate brokerages do not have long-term contracts with their agents which means you can leave your brokerage to go to a new one anytime you want to!
Pro Tip: If have already picked a brokerage and have been with them for a little while but you begin to question whether if they are a good fit, you should consider leaving as soon as possible.
Remember, you are an independent business owner as a real estate agent and you are building your own business, not your broker’s. Take ownership of your business. If you feel you have made a wrong choice, then start correcting the course immediately instead of waiting to make a change.
When leaving a brokerage you have just joined, make sure you make it clear to your broker that you will be leaving and communicate with them so that you don’t burn bridges and keep the relationship open for the future. You never know what might happen in the future! Check more at Agent Wealth Hustle!
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Conclusion
There you have it! These are the six steps you need to take in order to get sponsored by a real estate broker after you get your license.
Now that you know how to get sponsored, what are you waiting for? Start your search for the perfect sponsoring broker today!
Want to kick your real estate agent career off with a bang? Partner with the fastest-growing real estate brokerage in the world with the top training program for new agents! Click Below to Learn More About the Exclusive Tools, Trainings, Assets, Systems, and Resources that Agents are Leveraging at Our Incredible Group at No Additional Cost or Split!