www.kw.com© Copyright Keller Williams® Realty, Inc. 2010
By Michael Devlin
Keller Williams Realty11/15/2011 2
Real Estate Career SessionHow to become a
California real estate agent
www.kw.com© Copyright Keller Williams® Realty, Inc. 2010
Agenda
Why Real
Estate?
Choosing An
Office.
How To Get
Started.
www.kw.com© Copyright Keller Williams® Realty, Inc. 2010
WHY REAL ESTATE
Mike Devlin
Keller Williams Realty
www.kw.com© Copyright Keller Williams® Realty, Inc. 2010
Definition Of Terms
Broker
Salesperson
Agent
Licensee
Realtor
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Working For A Broker Not Working For A Broker
Need Broker For Licensed Acts
Ways of Holding License
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Residential
Commercial
Loans
Property Management
What You Can Do With License
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Advantages Of A Career In Real Estate
Freedom and independence.
Financial rewards.
Investment opportunities
Security
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How Real Estate Agents Are Paid
9
$530,000 pricex .06 commission
$31,800 total commission
Listing Office$15,900
Sales Associate$11,130
Selling Office$15,900
Sales Associate$11,130
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How much CAN you make?
$11,130 x 4 = $44,520
$11,130 x 6 = $66,780
$11,130 x 8 = $89,040
$11,130 x 12 = $133,560
$11,130 x 18 = $200,340
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70/30 to 100%
• You receive 70% of the gross commissions up to $100,000 ($70,000 to you/$30,000 to office)
• After that, 100% to you until beginning of next year.
• Year determined on when you start at Keller Williams.
11
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Traits Of A Successful Real Estate Agent
12
Ethics
Ego Drive (Self Confidence)
Empathy
Enthusiasm
Energy
Education
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Types of real estate careers
13
Full Time
Part Time
Referral Only
Mentor
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Timing
• Real estate runs in cycles.• The real estate market is currently at the
bottom of a downward cycle.• The cycle will start trending upward.
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HOW TO GET STARTEDMike Devlin
15
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18 Or Older
Can Prove Legal Presence in US
Not Convicted Of Certain Crimes
General Requirements
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Complete 3 College-Level Courses
Pass Salesperson’s Exam
Apply For Salesperson’s License
Licensing Process
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How to Apply for the ExamComplete Salesperson Examination
Application Form
College-level course transcripts
$60 Fee
Mail to Department of Real Estate
Wait at least 6 weeks
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Real Estate Principles
Real Estate Practices
Elective Course
Before Applying For State Exam
www.kw.com© Copyright Keller Williams® Realty, Inc. 2010
Real Estate Appraisal
Property Management
Real Estate Finance
Real Estate Economics
Legal Aspects of Real Estate
Real Estate Office Administration
Elective Course
General Accounting
Business Law
Escrows
Mortgage Loan Brokering and Lending
Computer Applications in Real Estate
Common Interest Developments
www.kw.com© Copyright Keller Williams® Realty, Inc. 2010
College-Level Course Options
•College1
•Online2
•Home Study3
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Original Examination $60
Re-Examination $60
First Rescheduled Exam $15
Subsequent Rescheduled Exam
$30
Examination Fees
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150 Questions
70% Correct
50+% Fail
Exam Format
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Preparing For State Exam
DRE Reference Book
Online Courses
Books/CD ROMs
Live Workshops
www.kw.com© Copyright Keller Williams® Realty, Inc. 2010
Real Estate Classes
12 Live Classes
Start with any one
Take in any order
www.kw.com© Copyright Keller Williams® Realty, Inc. 2010
12 Lesson Rotating Class Plan
1. Ownership & Property
2. Encumbrances
3. Real Estate Law
4. Finance 1
5. Finance 2
6. Real Estate Practice
7. Contracts8. Agency
9. Taxation
10. Land, Subdivisions, Bus. Opps.
11. Appraisal
12. Capitalization & Math
You can start with any lesson, repeat as often as necessary.
www.kw.com© Copyright Keller Williams® Realty, Inc. 2010
Other Materials
•12 Class Handouts•12 Online Quizzes•Definitions
Course Materials
•6 Practice Exams•150 Questions Each
Testing Program
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And More
High Pass Rate
Pass, Or Your Money Back, Guarantee
Free Guest Lesson
100% Tuition Rebate Program
Placement Assistance
Course Tuition - $299
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Once You Pass the Examination
Application - RE 202/RE 435
$275 Fee
Fingerprints – Live Scan
Proof of Legal Presence
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Time Line
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Combo - Exam & License (RE 435)
www.kw.com© Copyright Keller Williams® Realty, Inc. 2010
Examination Fee $60
License Fee $275
Fingerprint Fee *
Total Due to DRE $335
* $51 fingerprint processing fee paid directly to the live scan fingerprint service provider
Combo - (RE 435) Fees
www.kw.com© Copyright Keller Williams® Realty, Inc. 2010
Fingerprinting
Can Take Weeks
No License Until D.O.J. Report Issued
Submitted to D.O.J./F.B.I. ($51)
Get Fingerprints Taken ($10-$35)
www.kw.com© Copyright Keller Williams® Realty, Inc. 2010
CHOOSING AN OFFICE
Mike Devlin
Keller Williams Realty
34
www.kw.com© Copyright Keller Williams® Realty, Inc. 2010
Introduction
The Evolution of the Real Estate Industry
dependent interdependent independent
Keller Williams Realty
• Associates are dependent on the company;
• Financial gain is directed primarily to the brokers and the company;
• Associates have fewer opportunity for accumulating wealth
• Associates have an interdependent relationship with the company and a mutual interest in success;
• Associates and brokers work as teams in achieving financial goals;
• Associates do not assume financial, legal or management responsibilities
• Associates are independent and have landlord/tenant relationship with their company
• Associate –focused environment with limited high-level support
• Associates assume all the financial, legal and management responsibilities
Traditional Companies 100% Companies
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Awards and Honors
Outpacing the Industry
J. D. Powers and Associates - Highest Overall Satisfaction For Home Buyers Among National Full Service Real Estate Firms, Two Years in a Row*
Entrepreneur Magazine- Ranked #1 real estate franchise in the Franchise 500 survey
Swanepoel Trends Report - Most Recognizable Real Estate Franchise for 2009, #1 Industry Trendsetter for 2009
Inc. Magazine - One of the Top 5000 Fastest Growing Private Companies in America, 2009
American Business Awards- Sales Training/Coaching Program of the Year
Franchise Times - Top Quartile of Franchise Operations in the U.S., 2009
www.kw.com© Copyright Keller Williams® Realty, Inc. 2010
Top real estate agents featured in 'The Thousand' report
• Source: The Wall Street Journal/Real Trends Inc.
• Keller Williams Realty agents and teams accounted for 233 spots overall on the list, and accounted for nearly half (122) of the top 250 teams by transaction sides.
• Among the top 10 teams in that category, Keller Williams made up four out of the 10.
www.kw.com© Copyright Keller Williams® Realty, Inc. 2010
Defying the Downturn
While others are slowing … Keller Williams Realty is growing.
In 2009, the National Association of Realtors® saw a 7 percent contraction in its membership from the previous year, while Keller Williams Realty saw growth of 3 percent – to more than 76,000+ associates.
www.kw.com© Copyright Keller Williams® Realty, Inc. 2010
Defying the Downturn
Our agents’ businesses are growing
As KW’s agent count and productivity continue to rise, Keller Williams agents are closing more units – outpacing the growth of the industry as a whole.
www.kw.com© Copyright Keller Williams® Realty, Inc. 2010
Keller Williams Realty
Not Your Ordinary Real Estate Company
We like to think we stand out from other real estate firms in many ways, but THREE areas in particular define Keller Williams Realty:
Through Culture, Profit Share, and Education, we build the careers of our people. This is an approach that brings our associates the success they want and deserve.
profit share educationculture
1 2 3
www.kw.com© Copyright Keller Williams® Realty, Inc. 2010
Associate Leadership Council
Open the Books, Share the Decision Making
At Keller Williams Realty, our books are open to our associates. On a monthly basis the market center financials are reviewed by our Associate Leadership Council (ALC).
Business Accountability
Budget Accountability
There areNO Secrets
Because we are all in business together and we share in the profits of our market center, you’ll be able to review the office financials whenever you like.
Our ALC takes an active role in the budgeting process and helps our leadership team in making decisions that affect the financials of the office.
Many of our associates participate in the office financial planning and learn principles they can apply to their own businesses.
www.kw.com© Copyright Keller Williams® Realty, Inc. 2010
Value Proposition
Discover our Difference
We believe that Keller Williams Realty can offer you an unprecedented opportunity, with training, coaching and technology that lead the way in the industry.
coaching technologytraining
1 2 3
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Training
On Demand Learning – Available 24/7
The My Listings, My Leads Philosophy
You work hard to get your listings, so in our book, you deserve every lead that comes from them. Our entire online lead generation system is built around this philosophy.
kw | TECHNOLOGY
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Technology
Only $10 brings you a suite of tools
www.kw.com© Copyright Keller Williams® Realty, Inc. 2010
Technology
76,000+ ways to find buyers and market your listings
kw.com gives consumers access to search more than 4.7 million listings (including yours) -- more than any other national real estate Website!
Office sites
Your site
Our lead generation network exposes your listings to more consumers than any other real estate company – and every lead comes back to you.
www.kw.com© Copyright Keller Williams® Realty, Inc. 2010
Technology
Proprietary Listings Database and Full IDXOur proprietary listing database, the Keller Williams Listing System, or KWLS, markets your listings online – 24/7. And all the leads come back to you.
www.kw.com© Copyright Keller Williams® Realty, Inc. 2010
Technology
Contact Management and MarketingThe Keller Williams Realty version of Top Producer® 8i is customized to our company to help automate the models and systems of The Millionaire Real Estate Agent
Keller Williams Realty is built by agents, for agents.
We’re a company that’s changing lives.
The next one could be yours…
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