Questions to Ask a Prospective Brokerage/Company
When you are deciding what company to go with, RETI Team member, industry veteran and rockstar broker Amy Smythe-Harris provides the following info sheet as a guide for your next interview with a real estate company.
1. What is your commission structure?
2. Is there a cap? When does the cap re-start? Is it on the anniversary date of my joining or
at the beginning of each year?
3. What is commission structure on bonus? Leases?
4. If I receive an incoming referral, do I get the full amount or will it be on my split with
5. If I reduce my commission & on a split with you, will you expect your part of the
commission based on a non-reduced commission split?
6. If a deal is an in-house deal, is the commission split percentage changed?
7. If I leave when I have clients under contract, can I still get my commission? If so, is my
commission split changed?
1. Monthly desk fees?
2. Yearly desk fees?
3. Sign up fees?
4. Training fees?
5. E & O?
6. Does the Brokerage offer credits if I work toward a Designation or get my designation?
1. Will you guarantee me leads?
2. How will I get leads from the company?
3. How are leads routed in the company?
4. Where do leads come from?
5. If I receive a lead from the company, is my split different?
1. Are you a practicing Broker? If so, will you take my clients?
2. Can I list my own house? If not, what will be the commission split if it goes to someone
in the office?
3. Can I property management or do commercial with your firm?
4. Can I work both sides of the deal?
5. Who owns my database if I use your CRM?
6. Do I get to take my listings when I leave?
7. Can I negotiate commissions on my listings or do I need to get Brokerage permission?
8. If I do my own marketing, do I need to get permission from the Brokerage firm?
9. Can I do Property management?
10. What is the E & O (Errors & Omissions Insurance) deductible that I will be responsible for if there is a claim against me?