I was reading the Los Angeles Times this morning and came across an interesting article entitled “How to keep your job during layoffs”The article advises that the following be done:1. Anticipate what Read more...
I was reading the Los Angeles Times this morning and came across an interesting article entitled “How to keep your job during layoffs”The article advises that the following be done:1. Anticipate what your company needs.2. Keep up your skills.3. Stay positiveI started to think that the above also applies to life as a real estate salesperson.Anticipating what your company needs is important to stay relevant as an employee. How does this apply to life as a real estate agent? What about anticipating what your clients need? This is very important. What if a new listing comes on near one of your listings that is less than yours? Price reduction anyone? What about a new listing that comes on the market for one of your buyers? Staying relevant and timely is important no matter what you do.Keeping up your skills is also important. When was the last time you took a class or went to a seminar? Many local associations give free classes for short sales and REO properties these days. Take advantage of these and keep learning. My mom always used to say ‘In order to earn more you have to LEARN more.’Finally, staying positive always helps no matter what you are doing. Click here for one of my favorite videos about this.
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I received an email from a student today asking if I thought he should work on a team as he starts his real estate career. This is an individual decision and is one that should not be taken lightly.One Read more...
I received an email from a student today asking if I thought he should work on a team as he starts his real estate career. This is an individual decision and is one that should not be taken lightly.One of our instructors, Chris Montague, started in the business and worked on a team with a top producer. He says that he learned sales skills and discipline that he would not have learned if he started on his own. I have uploaded his mentor Robert Adams' interview with us to YouTube. You can check it out hereI am blogging about this because I suspect that some of you may be considering working on a team as well. Before you make this decision, I would recommend reading this article that does a good job of pointing out the pros and cons of the team model.
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As part of our new website I had the good fortune of interviewing three groups of people recently. The first group was comprised of current Adhi students.The second group was a group of students who had Read more...
As part of our new website I had the good fortune of interviewing three groups of people recently. The first group was comprised of current Adhi students.The second group was a group of students who had taken classes with Adhi Schools and passed thie state exam within the last one to six weeks.The last group was comprised of industry veterans. A common theme in nearly all the interviews was that people taking the classes and in the real estate industry want to take control of their own destiny and put their future in their own hands.Stay tuned for the videos.
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The following is an interview with Sophia Lopez, the administrative manager of ADHI Schools. She is a licensed real estate salesperson and has been with the company since 2005. Q: How did you end up working Read more...
The following is an interview with Sophia Lopez, the administrative manager of ADHI Schools. She is a licensed real estate salesperson and has been with the company since 2005. Q: How did you end up working with the school?A: I was working with another real estate company that was downsizing. Kartik taught a class there and ended up hiring me right away!Q: What do you think sets our school apart from others?A: Accessibility to our staff and the live element of our courses. Come check out one of our classes!Q: You have seen hundreds and hundreds of students come through our doors. What do you think separates successful students from unsuccessful ones?A: Determination and students that are persistent and eager to learn. Asking questions is a must.Q: Do you have any advice for those applying for the exam?A: Go to one of our crash courses and do questions and answers over and over again.Q: As an assistant to Kartik Subramaniam, you have seen real estate agents that succeed and those that are less successful. Any advice for new agents?A: Don't get discouraged and stay focused. Come to the office everyday. Something will pop up! Treat this business like a regular job.Sophia can be contacted at sophia@adhischools.com
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The Prudential Legend award is given to Prudential real estate agents that have achieved Chairman's Circle at least 5 times. Currently, Chairman's Circle is at least $300,000 in income or 70 residential Read more...
The Prudential Legend award is given to Prudential real estate agents that have achieved Chairman's Circle at least 5 times. Currently, Chairman's Circle is at least $300,000 in income or 70 residential units sold in one year. I had the opportunity of having breakfast with a Legend inductee Daniel Bryant, broker/owner of Prudential California Realty in Sierra Madre. Bryant has had offices in Monrovia, Pasadena and Sierra Madre. Formerly he has held senior positions at Bank of America and Cushman and Wakefield.On a recent Sunday morning I met Mr. Bryant for breakfast at the San Gabriel Country Club where he is a member. We talked about the state of the real estate market and what it takes to be successful.To paraphrase our conversation:Dan echoed something that I head often from brokers and managers about the business: "Treat this like a job. Show up at a certain time every day and go to work. You will get business."Send handwritten notes every day. These really make an impression.Market to people that you have existing relationships with. They know, trust and like you already. This is a great place for new agents to start looking to get business.Real estate is all local. Certain markets will get hit harder than others. Know yours - your clients are counting on you.Dan Bryant is always looking for new salespeople. He can be reached at danielbryant@earthlink.net.
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Ughh. The age old question. Real estate is all about image and flash, isn't it? I say hell no! As long as your car has the following you should be fine:Air conditioningHeatingKEPT CLEAN AT ALL TIMESThere Read more...
Ughh. The age old question. Real estate is all about image and flash, isn't it? I say hell no! As long as your car has the following you should be fine:Air conditioningHeatingKEPT CLEAN AT ALL TIMESThere is no need to put yourself in debt as you start this career. Some managers say "Go out and buy yourself that new car. The payment will make you work harder!" Is your manager/broker going to make your car payment for you until your deals close? Why put that undue pressure on yourself, especially in this soft market. Wear clean, well-pressed clothes. Pick up your phone. Return calls. Have a clean car. Most of all - DO YOUR JOB.
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Upon finishing the real estate course at ADHI Schools, LLC many of our students ask, "How do I pick a real estate office to work for?" Definitely a complicated question.
The main thing to remember as Read more...
Upon finishing the real estate course at ADHI Schools, LLC many of our students ask, "How do I pick a real estate office to work for?" Definitely a complicated question.
The main thing to remember as a new agent is to pick an office that has a structured and scheduled training program. Don't be enticed by high commission splits (easier said than done - I know!) or empty promises. Learn the basics like how to fill out a contract, how to get clients and service them right.
Give it time - The money will show up if you stick with it and do a good job! When interviewing brokers be sure to ask for a copy of the WRITTEN training schedule. If the office doesn't have a WRITTEN program and structure chances are they are just "winging it" and you should beware.Give it time - The money will show up if you stick with it and do a good job! When interviewing brokers be sure to ask for a copy of the WRITTEN training schedule. If the office doesn't have a WRITTEN program and structure chances are they are just "winging it" and you should beware.
Also be advised that some offices do have desk fees. Technically desk fees are calculated by taking the total expenses of an office and dividing by the number of salespeople. As an example, if an office has total expenses of $20,000/mo and 100 agents, each agent may be required to pay $200 to offset the hard costs of running the office. This is a watered down example of how desk fees are calculated, but each broker has their own policy in terms of what is charged to the agent and when these fees are paid. Typically, you may expect to receive a slightly higher commission in this type of office because you are paying in each month, but again every office is different.
Brokers that are affiliated with a national franchise may also have something called an "off-the-top" fee. This ranges from 4-8 percent and is calculated before your commission split. As an example, if you were on a 60-40 commission split and there was a 5 percent off-the-top fee, 5 percent would be deducted from the gross commission prior to calculating your 60%.
Example: $10,000 gross commission.
- 500 (off-the-top/franchise fee)
-4,000 (40% to broker)
________
$5,500 (agent take home)
Check out this YouTube video explaining how real estate commissions are paid.
Got questions about a certain office or what they are offering? Call our office today at 888 768 5285. We'll walk you through it. Or better yet, call us for recommendations. We'll lead you in the right direction!
Love,
Kartik
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