When you join the real estate industry as an agent, you hope to make the most commissions in your time there. You shall have so much passion and drive, and the will to close as many houses as possible. The approach, however, is not as simple as that.
Money is a big motivator in this process, and shall get you selling. But to function as an agent and to have a license to sell, you need to be affiliated with a brokerage firm. This means that you will enter into an agreement where you share part of your commission for their services. The firm shall ensure you have an office to do your administration and filing duties. They shall also enhance your education in this field, and keep you updated on all matters real estate. But this may turn out to be more for their gain than yours This is something you need to do all you can to avoid. There are places where you are given your full commission.
There are 100% commission brokerage firms out there, where this is possible. Your aim is to find the one most suitable for your needs. These firms differ from the way they work. There are certain things you need to check out in each. A good place to start would be to check if they do as they promise they will. You need to know if there are any hidden charges, to begin with.
You need to know about the status of the professional liability insurance, and who shall cover its costs. You need to be certain that they have the errors and omissions insurance actively in place. If you find a firm that does not take this seriously, then you need to move on. There is no telling what might happen as time goes. If you went looking for one when the need arose, you would likely make the worst choice and ruin your prospects. In most cases, agents pay for this cover themselves. If there is a promise of an offer here, you need them to be clear about it. If you find them not to be cleat in such a thing, you will then know you cannot take their word on anything else.
You also need to see a transaction coordinator actively working for them. This is what will be beneficial in your daily transactions. When you find them to be well connected and efficient in their operations, your transactions shall be closed in the speediest and best way possible. At the same time, you want to be affiliated with a firm that shows signs of growth and health in this industry. You need to join a vibrant, outgoing, well known and well-connected firm, if you expect to make an impact in the industry.