Posts tagged Century

Question by songbrd0020: Is being a real estate agent at Century 21 a good career choice?
I’m thinking about getting my real estate agent’s license and was wondering if working at Century 21 would be a good career choice. Any suggestions/opinions?

Best answer:

Answer by GreenBoxHomes.com
Congratulations on your decision! This is the greatest career on earth if you ask me. But I recommend that if you have a college degree, that you study for, and get, your broker’s license, which is the top-of-the-top licenses and you can open your own boutique firm and keep all your commission. That’s why I am a broker/owner, but I initially did work for other firms. I learned finally the hard way! Now I will never go work for someone else because legally I don’t have to.

But if you don’t have a college degree, that’s OK. Study for and get your salesperson’s license. Then very CAREFULLY research any and all firms. There are a lot of fees in some of these “big brand” franchise firms. Why should you pay those?

Here is what you can ask during interviews:

What is the highest commission split that you can offer a new licensee? (Try for 80-85%)
What do you charge for E&O insurance? (this is a big rip off, so it better not be more than or 0 per deal, no more!)
Do you charge a franchise fee per deal?
Do you charge an admin fee per deal?
Do I buy my business cards?
Do you charge a monthly “desk fee”? (such an old school b.s. fee!)

I personally believe that the franchise business model as you see it today is fading very fast. These firms have to charge you these nickel and dime fees per deal to pay their rent (all out of YOUR side of the commission, on top of their split portion). I think you will continue to see a huge movement toward “virtual offices” where you mostly work at home and may get limited support, but you get to keep more of the money you earn.

If you want to be connected to a big firm just to try it, please be careful. Some will only do a 50/50 split in your first year and charge you for training and still have all the nickel and dime fees. In this case, find the franchise that treats you the best and learn all you can in one year, then move on to something more equitable for you.

Good luck!

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