Pros
- High commission splits are easy to obtain. $100K in gross commissions gets you a 60/40 split. $200K for 70/30. At larger firms, you would need to make more than double the money to earn those kinds of splits. - Family-type environment. People are expected to be in the office early and be present at office meetings, which is not typical in real estate. (I enjoyed this when I started, but as I became more familiar with how the business works, it became a negative for me. Top agents who stay with Anchor seem to like it.)
Cons
- President of the company wants you to focus on open listing rentals, which pays his bills and keeps him in business, but does not build YOU a solid client base as an agent. 95% of your open listing clients will never call you back. - Sales techniques are low-touch. For example, forcing paperwork on clients at the very first meeting is a huge turn off and rapport killer. - Your target clients that you are taught to go after are people who can barely afford to live Manhattan, and naturally do not like paying for services such as real estate agents. Dealing with this type of person is actually more difficult than targeting high net-worth people who appreciate the value of a good salesperson. - Agents train other agents, which leads to undesirable scenarios. New agents can be trained by poor agents (agents who have time to train people are definitely NOT making the most money), while busy agents who take time out of their days for training newbies are sacrificing their own business for minuscule gain.