You have just passed your real estate exam and you are needing to find a sponsoring broker, or you are looking to change broker and you don’t know what to do to find a sponsoring broker.
Surprisingly, it is very easy to find a sponsoring broker in Texas. There are several different types of brokers to choose from and it really just depends on what you need.
- Do you need leads provided for you, or can you generate them on your own?
- Do you want to work from home, or go into an office?
- Do you want to have sales quotas?
- How much training do you need?
- How much of the commission are you wanting to keep?
Most agents want to have leads provided to them, but you will need to keep in mind that there is a trade-off for that.
A traditional broker will provide leads but they will want you to come in to an office most likely. They will also have sales quotas, and have requirements in place to make sure the leads are being well taken care of. They will also want to keep a significant portion of the commission from a lead they provide.
If you think you can generate leads on your own then my recommendation is to go find an independent broker sponsor, because you get to keep all of your commission.
Work From Home
Traditional brokers will require you to come in to the office varied amounts, but an independent broker will not have any office time requirements, no desk fees either (Some traditional brokers will require a desk fee to be paid to cover the cost of the office).
Independent Brokers will not have any requirements on your business. No Sales quotas or goals, and that is because they earn whether you sell or not, but a traditional broker will have sales quotas normally because they are invested in you and they need help covering the cost of the leads that are generating.
Your marketing expenses are going to be more or less the same regardless if you go with a traditional broker, however the traditional broker will have more requirements that could raise your upfront cost.
Training is going to be more hands on and shoulder to shoulder with a traditional broker because you will be in an office and have someone to shadow. The independent broker will in some cases have competency training but for the most part you will need to contact your broker for any questions and issues. Just make sure the broker has a good track record of getting back to their agents.
Independent brokers allow you more freedom to find your success and they let you keep all or most of the commission, and a traditional broker will have a more hands-on approach with you until you are able to find success with less of the commission coming to you.
Once you have decided what fits your needs best then you can start googling to find a sponsoring broker for a fee, or calling local brokerages to see if you can get an interview with their office manger to see if there is room on their team.
Where to find a Broker
You can find independent broker sponsor by just googling “broker sponsorship”, and you should see several sponsoring brokers for a fee that will let you keep 100% of the commission. Sign-up is easy and done in minutes.
With traditional brokerages you will need to contact brokers in your areas and schedule interviews and see if they are looking to expand their team.
Independent Sponsoring Brokers:
- Spirit Real Estate Group
- Central Metro
Traditional Sponsoring Brokers:
- Keller Williams or KW
- Berkshire Hatheway
There are lots more but we just wanted to provide a few examples. Also, not all sponsoring brokers are the same. Some traditional brokers may have more benefits and less requirements, so like I mentioned before it is best to make sure you do your research and find a broker that meets your needs so you can be successful and make a decent wage doing it.