Important Questions to Ask When Interviewing a Sponsoring Broker

1.   Do you provide training?

• How many days or hours of formal training?
• Is there a cost to me?
• If so, how much?
• Who will be available to help me after the training?
• Is that person easily and readily available to me?
• What other "hats" does that person wear?

• Do you offer a graduated commission split that pays me a higher percentage as my production increases?
• If so, and I reach say 60%, do I go back to my beginning split at the end of a designated period?
• May I have a copy of the commission schedule?

• Initial: Licensing, application, business cards, photo, name badge, local Association of Realtors dues, etc.
• On going: Monthly or quarterly charges such as long distance calls, desk fees, franchise fees, voice mail, etc.
• Per listing: Sign, lock box, advertising, etc.
• Per sale: Error & omission insurance

• How often?
• Who pays for it?
• Who determines which listings get advertised?
• Who writes the ads?

• If so, how much?

• What is the minimum amount per month?
• What is the maximum amount per month?
• How many hours per shift?

• 1st choice________________________
• 2nd choice________________________
• Are either available in this office?

• If so, how soon?

• Examples include:
  • Announcements
  • Just listed
  • Just sold
  • Just participated in a sale
  • Door hangers
  • Free market analysis
  • Brochure of the company
  • Company letterhead
  • Legal size preprinted shells for my flyers
  • Letter size, heavy shells for color brochures
  • Is there a cost to me for this material?
  • If so, how much?
  • Who pays for the postage? (Bulk and Individual)

• Will I have a copy if I sign on with you?
• May I take it into the conference room now and review it?

• How many do you want?
• How many part time agents?
• What is the agent turn over rate?
• What is the average tenure of agents?

• Average per full time agent?

• What is the ratio of agents to computers? (12 to 1, 15 to 1, etc.)

• Would clerical assistance be available to me such as preparation of monthly mailers, typing letters, preparing flyers, entering and making changes in listings, etc.

• When will I be given one?
• After I am eligible, how many can I expect per quarter , assuming I prove I can do a good job with them?
• What are your sources of referrals?
• Approximately how many referrals do you give out to the agents per month?
• Do you have a relocation department?

• Is this your normal amount?
• How many is that per full time agent?
• What is the average list price of the listings?
• What is the average sales price of the office?
• What percent of your listings are sold in-house?

• What are your expectations of me?

• If so, what do you expect from them?

• Do you do property management?
• Do you have an apartment leasing department?
• Could I eventually go into one of these departments?
• Will I receive referral fees from business' I may refer to these departments?

• Do I get the total amount, or is it split with the company? If so, at what split?

• Is it split with the company?
• If so, at what split?

• If so, would you briefly discuss it with me?

• What commission do you charge for undeveloped land or lots?
• Do I have the authority to list for less commission under certain circumstances?
• If yes, what are those conditions?
• Could I list it for more?

• What day? What time? How long do the meetings usually last?
• Could I attend a sales meeting before I make a final commitment to come on board?

• Do you have expansion, move of office, or growth in your immediate plans?

• If so, am I required to wear it?
• Do you have a dress code?
• If so, could I have a copy of it?

The next step: Getting your Broker's license

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