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Is Rapid Realty good for a new agent

Started by Scheffee
almost 13 years ago
Posts: 1
Member since: Feb 2013
Discussion about
Hello Everyone If you know anything please fill me in on what you know about Rapid Realty. I'm new to the company and they've sponsored my real estate courses as well. IF they're not can anyone recommend a better company? Please be as honest and open with your comments as possible Thank you
Response by emileleplattenier
almost 13 years ago
Posts: 2
Member since: Feb 2013

1,000x no. Run, run far away and never look back. Paying $300 for your NYREI course is chump change compared to the drastically limited earning potential and absurdly low splits they offer. 25% with a maximum of 40%?! Even churn and burn places like Citi-Habitats will start you at 35% and then 50% after a few deals. In Manhattan they are almost completely useless. They do not have Pan Am, BLDG, Mano, and have zero exclusives. They are not REBNY... Go and talk to your co-workers, I would be stunned if any of them have worked in real estate for more than a year or have EVER done a sales transaction... these are the people you will be learning the ropes from. Think about that for a minute.

The other problem is that their reputation is so awful in the industry, it will make searching for a new job that much more difficult. It also means that other agents and management companies will treat you poorly after hearing you work for rapid.

The offices... believe it or not, most agencies will give you a DESK and a computer that is YOURS. They don't cram 20 people into 400 square offices and make them sit on rock hard stools all day.

I suppose you might think this is all hyperbole and rumor, but I speak from experience. A few years ago I made the unfortunate mistake of signing on with rapid. I ended up wasting 6 months of my career. Don't make the same mistake. Give them the $300 and go work somewhere else.

You would be better pretty much anywhere, but your shortlist of companies that hire noobies and don't suck should include Bond, City Sites (200 exclusive buildings), Citi Habitats, DSA (150 exclusive buildings), Miron, Charles Rutenberg, and maybe Filmore or Brick if you only want to work in Brooklyn. After a year or two, ask for a higher split (I'm making 70% at my current firm) or move on to an agency that only hires experienced agents like City Connections (full disclosure, I work here).

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Response by Scheffee
almost 13 years ago
Posts: 1
Member since: Feb 2013

Thank you so much for information. I'll continue my research for a better broker.

Thank you

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