Coldwell Banker Winthrop Realty
FAQ about Real Estate

Q How is Coldwell Banker Winthrop Realty different from the other real estate companies?
A. The following are our major points of difference:
· We capture 27% market share of all transaction sides
· Our listings written increased 23% in 2003
· Coldwell Banker ranks 12^th in the top 20 franchise chains by worldwide sales. There are no other real estate companies in the top 20
· Coldwell Banker spends $18-$20 Million dollars annually in TV advertising
· We offer a free "Buyer Services" and "Seller Services" Guarantee
· We control a 70% market share in relocation business, with over 1,700 major corporations for employee transfer
· Community involvement through  Methow Education Foundation scholarships.
· In-house Mortgage services.
· Buyer/Seller Satisfaction Surveys
· Concierge Services - a free service for all Coldwell Banker Winthrop Realty customers
· Home Warranty Services for Buyer/Seller
· More than 78,000 sales associates and brokers in 3812 offices in 23 countries are part of the Coldwell Banker real estate network
· One out of every nine residential real estate transactions in North America involves a Coldwell Banker Sales Associate. Nine out of ten customers would recommend Coldwell Banker to a friend
· Coldwell Banker consistently sells more Luxury Properties than any other real estate company in the world. Coldwell Banker Winthrop Realty captured 39% of all luxury home transactions in 2003 in the Methow Valley.

Q. How much training is required to get licensed and start my career in real estate?
A. The State of Washington requires you to log in 60 clock hours of training and pass the final exam with 70% or better prior to your being allowed to take the license test.  You will find during your career that advanced training will always be required for you to stay informed about the business

Q. What type of professional sales training does your company provide?
A. We offer intensive “fast start  training”  for incoming sales associates. Additionally, we have advanced training in each at our office
On-Line training is available through Coldwell Banker University 24/7 at cbu.com with unlimited annual access to over 80 courses. Once licensed and on board you will need another 60 clock hours to renew your license within the next 1½ - 2 years.

Q. What personality profile and educational background provide the best chance for success?
A. While sales and people skills give you a jump on the competition, we still find that people from most vocational and educational backgrounds have been very successful in real estate.

Q. When will I know if this is the right career choice for me?
A. There is no hard and fast rule to determine success. Most people will know in 3 to 6 months if they have chosen the correct career path.

Q. How much time will it require during the first year to be a success?
A. Successful agents find the profession requires strong work habits and put in long work weeks to succeed. Newly licensed agents typically spend 50 - 60 hours a week in the first year of real estate. The flip side is that you are your own boss and can set a schedule that suits you and take time off and vacations when YOU choose.

Q. How much will it cost to get started?
A. Pre-license training costs will be approximately $250 - $345 depending on the school you choose. We reimburse this cost to you at time of closing of your first transaction. There is a "Home Study" pre-license program available on disc for your home computer approved by the Washington Association of Realtors called "Washington's Best Real Estate Education" http://americas-best.net 1-888-910-5452.
The cost of taking the Washington State license exam is $138.25. You will need to pre-register; the results of the exam will be given to you upon completion of the exam. Call ASI at 800-274-5985 to pre-register.
Upon passing the state exam your licensing fee is $116.25 to activate your license to begin your career.
To total it all up from pre-license to being board-ready the cost will be approximately $400 to $600. There are other personal business cost options which are discussed at the time of your initial interview.

Q. Can I begin to list and sell real estate immediately after receiving my license?
A. Yes, however under the close supervision of your broker. Coldwell Banker Winthrop Realty  also offers mentor program that can be used during this period to help launch your new career at a faster pace.

Q. What is my job description?
A. There are literally dozens of activities that, as an agent, you can take part in during your business week, such as the following:
·Previewing your office's new listings on office tour
·Previewing properties listed by other agencies
· Completing paperwork on transactions
· Following up with customers/clients
· Following up with prospects
· Setting showing appointments
· Showing properties to buyers
· Attending office meetings
· Attending educational sessions
· Finding potential customers/clients
· Doing listing presentations
· Learning about title, escrow, closing procedures
· Organizing materials/ your desk
· Answering calls at office on schedule assigned by office (commonly called floor time)
· Holding open houses for the public
· Holding open house for the cooperating agents (brokers' opens)
· Preparing brochures for properties
· Promoting yourself (preparing brochures, cards, etc to mail to identified markets/other promotions to increase name recognition)
· Following up on transaction to the end of the transaction (closing)
· Studying finance option
· Planning your days, weeks, long-term goals

Q. Where will I get most of my customers?
A. The following is where our successful associates get their customers:
·   Sphere of Influence (people you already know)
·  Open Houses
·  Circle Prospecting
·  For Sale by Owners
·  Expired Listings
· Demographic Prospecting (Attorneys, CPA's, Insurance Agents, Financial Advisors, etc)
· Corporate calling
· Geographical Prospecting
· Sign/Ad calls
·  Floor Time
· Realtor Referrals
· Community Involvement
·  Buyer / Seller Seminars
· On-line leads
· Corporate Relocation

Q. How does the commission split work?
A. The average commission charged to most sellers is between 7% and 10% of the sale price of the property depending on if it is residential or land. This amount is then divided equally between the listing and selling real estate brokerage. You then split the commission with Coldwell Banker Winthrop Realty. We have a generous incentive program that increases your share of the commission as you produce more sales during any 12-month period.

Q. How much money can I realistically expect to take home the first year?
A. In recent years our top first-year agents have taken home incomes in the high 20’s and low 30’s.