Attorney-Broker Seeks Attorneys Interested In Becoming Brokers
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I am both a real estate attorney and a real estate broker. I prefer to work as a broker because it pays better. It gets you out of the office and so you see geography. You get to see how people live and get to know them better. It involves salesmanship and creativity.
Often when people want me to serve as their attorney, they are involved in something negative and contentious. Sometimes legal clients need more help than they can afford. People end up owing me thousands that they can't pay.
But when I serve as broker, people are hiring me because something good is happening in their lives. When the deal is closed they are happy and I get paid.
If you charge real estate buyers or sellers by the hour, they usually want to save money by skimping on keeping you informed. They do this because they think $300 per hour is large but 6% is small. They just can't imagine how anybody could be worth $300 per hour. They often show up after they are already in a pickle. So sometimes it is not pleasant work.
When I work as broker I get paid better. With better pay I can deliver a more comprehensive service to my buyer or seller.
I am looking for fellow attorneys who are also brokers. Or attorneys who want to get licensed. If you are new to brokering, I might be your supervisor for the first two years. You could be part of my team. The job of the team is parcel out the work. The team would take care of leg work like run comps, cleaning houses and staging them, ordering yard signs, preparing fliers and yard signs, and sitting open houses.
If you want to do some of that work and be paid more, you may. But if you prefer, your role could focus primarly on document review, watching out for possible losses to your clients.
This can be a part time job. You you can keep your existing legal practice. I do some legal work myself. But I predict that before too long you will want to become more broker than attorney.
I work with Keller Williams in Everett. KW has lots of training. And it has profit sharing. Half of company profits are paid back to the brokers. Payments are calculated based on sales produced by brokers you have recruited to KW. Sub-commissions are paid down four levels. My wife sold a house, received an $8,600 commission. And immediately got a check for $290.
If you quit real estate, you will keep getting your sub-commissions. If you die your heirs will keep receiving your sub-commissions. Your heirs wo;; keep receiving them until all the people you recruited - down four levels - have died. That could pay for your grand kids' college.
Feel free to call me at 425-771-1110. We can discuss the many benefits of joining forces with me and KW.
If you are a broker who is not an attorney and if you would like to join KW, I invite you as well to call. You do not have to be an attorney to be on my team. I would have a financial stake in your success, so I will be helping you along. I will give buyers or sellers a free review of their real estate plans, estate planning, possible LLC setup, and possible partnership agreements. You will sit in and participate. You recruit buyers and sellers by selling the free consultation with Professor Deal. If you join my team or co-broker with me, you will be able to take on complex deals. Co-brokering with me gives you instant credibility because I can take care of the technicalities. I am also good at inspiring confidence. I get paid only if the deal closes.
Warning: I am a Green. You don't have to agree with my Green politics, but you should at least be willing to put up with it.
James Robert Deal