If you wish to kickstart your real estate career, the first step is to find a good real estate sponsoring broker. It comes even before you can start helping clients buy or sell properties. But who exactly is a sponsoring broker, why are they critical to your success, and who should you choose? Here, we answer some of the most asked questions to help you develop that much-needed momentum in this competitive marketplace.
Who Is a Real Estate Sponsoring Broker?
A sponsoring broker refers to a licensed real estate broker firm that hires agents and allows them to practice in the field or renew their existing license. They have years of experience and certifications to prove their standing in the industry. They are well-equipped to offer mentorship, marketing materials, branding assistance, and other resources to help agents grow. In return, the agents usually split their share of the commission.
Why Do You Need a Sponsoring Broker?
You need a real estate sponsoring broker for professional support and mentorship. You can benefit from their expertise and network to excel in your career.
Besides, partnering with a sponsoring broker is a legal requirement in several jurisdictions. They ensure your activities comply with relevant local and state regulations. They are also accountable for any financial liabilities arising from your work. However, you must also act responsibly and understand the implications of your actions before, during, and after a transaction.
While it is true that you need a sponsor to activate your license and perform your best during those initial years, some accountability also falls on your shoulders to give back to the brokerage and mutually reach greater heights.
How Can We Help?
When choosing a sponsoring broker, you must have as much clarity as possible. This starts with seeking answers to a few important questions.
So, inquire about your choicest broker’s reputation, the type of properties they deal with, how technologically savvy they are, and the kind of support they offer. You would also want to understand their commission structures, the benefits they offer, whether or not they offer leads and marketing materials, and the opportunities they can provide.
At NB Elite Realty, we are a go-to real estate sponsoring broker for many agents in Texas, Florida, New York, Illinois, California, and beyond. We also follow a 100% commission real estate model that allows our agents to take home 100% of their commissions and maximize their earning potential. We also offer our agents the necessary training and education to elevate their careers.
We have more than 1000 agents working across the country, which shows how much they trust and believe in us. We have only a nominal membership ($29/month or one-time $295/year) and a flat transaction fee (starting at $249 for a $200,00 home) that makes us stand apart from traditional brokerages with a substantial commission cut as well as various other unreasonable costs.
See the image below to understand our commission structure. Here’s a quick explanation: A $950,000 deal gets you a commission of $28,500. With us at NB Elite Realty, you can keep it all in your pocket and pay us just a flat $999 closing fee. In a traditional 80/20 brokerage, this amount can go up to around $5,700.
So, there is a 0% split and a straight $4,701 savings with us. No gimmicks, only predictable costs, maximum earnings, and nominal fees that are as good as paying no fees. It won’t erode your budget, and you can put these savings into building a portfolio. Our investment program can help you learn, earn, and reinvest.
Start Now
A real estate sponsoring broker helps you boost your career to greater heights. At NB Elite Realty, we can help you with all the practicalities of doing your best at your job. Our agents receive the necessary training and guidance to build their own brand. In exchange for all this support, you pay a fixed fee per transaction and a nominal membership fee.
Our founder, Nebo Bandovic, is a renowned real estate investor with a wealth of knowledge to help you learn the ins and outs of the business. He is the real deal in the real estate landscape. Call (844)444-6237 today, and we will answer your questions regarding agent sponsorship and help kickstart your career.