For newly licensed agents
How to Choose Your First Brokerage
Your brokerage choice matters more than your license. It determines your training, your splits, your contract oversight — and whether you survive year one. Here's how to evaluate an offer instead of falling for the pitch.
The four brokerage models
Almost every brokerage in the country is a variant of one of these four models. Names change; the economics don't.
| Model | Typical split | Fees | Training | Best for |
|---|---|---|---|---|
| Traditional franchise | 50/50 – 70/30 early; graduated tiers | Desk fee $0–$150/mo; transaction fees $200–$500 | Structured onboarding, name-brand playbooks | Brand-new agents who want a template to follow |
| Capped-split | 70/30 – 90/10 until you hit an annual cap, then 100% | Cap $12k–$25k/yr; transaction fees $100–$300 post-cap | Peer-driven; formal training varies by team | Producing agents who close enough to hit the cap |
| Cloud / virtual | 80/20 – 95/5 with a low cap | Monthly tech fee $85–$200; equity or revenue-share upside | Self-serve library; minimal in-person support | Self-directed agents who don't need an office |
| Independent / boutique | Wildly variable — 50/50 to 100% | Often lower overhead; sometimes flat monthly | Hands-on mentorship from the broker (when it's there) | Agents who want a specific mentor, not a brand |
Run the numbers, not the pitch
The headline split is the least useful number in the whole conversation. Plug each offer into our take-home calculator — a 90/10 split with high monthly and per-transaction fees often nets less than a 70/30 with none.
The 10 questions to ask in every brokerage interview
Ask every one of these, in every interview, in the same order. The pattern of answers tells you more than any single answer.
Question 1
What's the full fee schedule — desk, transaction, tech, sign, E&O?
Why it matters: The split is the marketing number. Fees are the real number. A clean fee list you can photograph is a good sign; a verbal 'we can talk about it' is not.
What a good answer sounds like: A one-page schedule with every fee itemized, including E&O per transaction or per year.
Question 2
What does your split look like after I cap, and where's the cap?
Why it matters: Two identical-sounding brokerages can be $8,000/yr apart at the same production level, entirely because of cap mechanics.
What a good answer sounds like: A specific cap number, when the cap year resets, and what happens post-cap (usually a smaller per-transaction fee).
Question 3
Who specifically will train me my first 90 days?
Why it matters: 'We have great training' means nothing. You need a name and a calendar.
What a good answer sounds like: A named mentor or trainer, weekly touchpoints, and shadowing on real appointments — not just recorded videos.
Question 4
How do new agents get leads here — and what do referred leads cost me?
Why it matters: Some brokerages hand out leads at a 25–40% referral fee. That changes your effective split more than the headline number.
What a good answer sounds like: An honest breakdown: 'company leads exist at X% referral' or 'we don't provide leads, here's what we do instead.'
Question 5
What did your newest three agents close in year one?
Why it matters: Averages hide the median. Ask about the newest, not the top producers.
What a good answer sounds like: Specific numbers, even if modest. Vague deflection ('depends on the agent') is the answer.
Question 6
Who reviews my first contracts, and how fast?
Why it matters: A missed contingency deadline can cost your client — and your commission. New-agent contract review is not optional.
What a good answer sounds like: A named broker or transaction coordinator with a same-day or next-business-day turnaround commitment.
Question 7
What happens to my listings and pipeline if I leave?
Why it matters: Listings belong to the brokerage, not you. But policies vary on pending deals, referral splits, and follow-up.
What a good answer sounds like: A written independent contractor agreement you can read before signing, with the departure terms spelled out.
Question 8
What's required — floor time, meetings, quotas?
Why it matters: A '100% commission' brokerage that mandates 8 hours of floor time a week is not really 100% commission.
What a good answer sounds like: Clear yes/no on floor time, sales meetings, production minimums, and whether they're strictly enforced.
Question 9
What marketing is included vs. billed back?
Why it matters: 'We market your listings' can mean a professional package or a Canva template you customize yourself.
What a good answer sounds like: A sample listing package with named vendors, price points, and who pays for each item.
Question 10
Why did the last three agents leave?
Why it matters: Every brokerage loses agents. What matters is whether the broker will tell you the truth about why.
What a good answer sounds like: A candid answer, even if uncomfortable. 'Nobody ever leaves' is not credible.
Take it with you
Brokerage Interview Scorecard
Print one per brokerage. Score each answer 1–5 and total at the bottom.
Brokerage
Interviewer
Date
| # | Question | Rating (1–5) | Notes |
|---|---|---|---|
| 1 | What's the full fee schedule — desk, transaction, tech, sign, E&O? | ☐1☐2☐3☐4☐5 | |
| 2 | What does your split look like after I cap, and where's the cap? | ☐1☐2☐3☐4☐5 | |
| 3 | Who specifically will train me my first 90 days? | ☐1☐2☐3☐4☐5 | |
| 4 | How do new agents get leads here — and what do referred leads cost me? | ☐1☐2☐3☐4☐5 | |
| 5 | What did your newest three agents close in year one? | ☐1☐2☐3☐4☐5 | |
| 6 | Who reviews my first contracts, and how fast? | ☐1☐2☐3☐4☐5 | |
| 7 | What happens to my listings and pipeline if I leave? | ☐1☐2☐3☐4☐5 | |
| 8 | What's required — floor time, meetings, quotas? | ☐1☐2☐3☐4☐5 | |
| 9 | What marketing is included vs. billed back? | ☐1☐2☐3☐4☐5 | |
| 10 | Why did the last three agents leave? | ☐1☐2☐3☐4☐5 | |
| Total (out of 50) | <30 walk · 30–39 negotiate · 40+ strong fit |
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