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5 Characteristics of a Good Sponsoring Broker - You Should Look For!

by Sydney Roy, Marketing Advisor @ManfredSchool

As a new Real Estate Salesperson, you will need to work under a “sponsoring broker.” The brokerage you choose to align yourself with will be the foundation of your new business, providing you with ongoing mentor-ship and the backing of it’s excellent community reputation. Here are 5 key characteristics of a good sponsoring broker, you should look for:

1. Commission Split Commission split percentages differ from broker to broker. Although this is important, remember not to base your entire decision off commission split. There are many other factors to consider. That being said, commission splits affect earning potential, making it an important factor. Make sure to be aware of what commission you should expect from your real estate sales.

2. Mentor-ship and Support As a new agent running their own business, you will need support and mentor-ship. Some brokerages have training and education programs that can...

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The 15-year Real Estate Broker Continuing Education Exemption Expires July 2021

Real Estate Salesperson and Brokers: All NYS licensees are required to successfully complete 22.5 hours of approved continuing education, including at least 3 hours of instruction pertaining to fair housing and/or discrimination, 1 hour of instruction pertaining to Law of Agency, two hours if it is your first licensing cycle. within the two-year period immediately preceding a renewal. 

NEW LAW AS OF JULY 1, 2021:

A new law regarding continuing education for real estate salespersons and brokers was recently adopted. Below is a summary of the major changes.

  • The amendment changes the course requirements for renewal. Specifically, new mandatory hours of education now include: "at least 2.5 hours of instruction pertaining to ethical business practices, at least 1 hour of instruction pertaining to recent legal matters governing the practice of real estate brokers and salespersons in New York which may include statutes, laws, regulations, rules, codes, department of state...
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