Are you a newly licensed Real Estate Agent searching for a Brokerage to begin your career? Or perhaps you're considering obtaining your Real Estate license in the future? We've teamed up with the great people at Armbrust Real Estate Institute to provide guidance during the complex search for the right Real Estate Brokerage. We've answered Armbrust's Brokerage interview questions to give you a detailed overview of our industry and how we support our amazing Agents here at Equity Colorado Real Estate. Be sure to contact Armbrust Real Estate Institute for all of your Real Estate Education and Licensing needs and don't hesitate to contact us to schedule a private consultation for more information on our services!
1. Does the firm specialize in a particular type of brokerage? Are you interested in this type of specialization?
We specialize in residential Real Estate and we teach Agents how to grow their business by referral (take a look at Brian Buffini and his programs — we teach them several times per year!).
2. Is the broker’s office in an area where you want to work?
We are a walking distance away from Armbrust — just up the street in The Belleview Tower (7887 E. Belleview Avenue, Suite 175).
3. How many offices does the broker have?
We have 5 offices currently: Denver (headquarters), Northern Front Range, Colorado Springs, Summit County, and Grand County.
4. How many associates does the broker have? How many are in the business less than one year, two years. How many new agents are still around after 2 years and how much are they making?
Between our five offices, we’ve grown to nearly 600 Agents in the State of Colorado primarily by referral: happy Agents referring other happy Agents to our Brokerage Firm. In the Denver office specifically, we support approximately 300 Agents with the use of our extremely efficient systems — our Agents aren’t just a number to us and we truly know each of them by name. Roughly 40% of our Agents have been with us since we started back in 2009. The remainder of our Agents are either full-time Agents CRUSHING their business or part-time Agents who are in the process of transitioning to a full-time career in Real Estate. Income ranges from $70k per year to $600k per year. After all, it’s YOUR business — how many transactions do you want to close? We can show you what it takes to get there!
5. How much support personnel are available to you (secretaries, transaction managers, showing services, closers, telephone answering service, etc.)?
Our Denver Office is run primarily run by Employing Broker, Paul Wineinger, with the help of his Executive Assistant and the Equity Real Estate Corporate Staff. We’re able to provide outstanding support through our extremely organized systems: a Support Hotline (monitored 7 days per week), an extensive online resource center, annotated example contracts and “cheat sheets”, an extensive YouTube Channel, Sales Meetings, training classes, and MUCH more.
6. Does the broker offer a formal training program? Is there a formal training schedule? Who does the training? Can you audit a training sessions? Can you review the training materials?
We have a New Licensee Startup Program for brand new Agents in the industry. This program includes a higher level of supervision for the first two years of licensure. We review every form and contract in great detail before you obtain your client's signatures and help you with many facets of your business (lead generation, relationships, business practices, contract practices, and more). We also have an interactive training platform with training videos, practice contract scenarios, and more. This is in addition to our regular ongoing training classes and Sales Meetings, of course!
7. Is additional training available?
Absolutely! We have MORE than enough training… We are big believers in working by referral, which is why we teach Brian Buffini Coaching Classes 2 - 3 times per year. These are extensive 9 - 14 week courses that cover everything from cultivating relationships, lead generation, working your existing book of business, negotiation strategies, buyer / listing presentations, managing finances, time management, and SO much more. Visit www.BuffiniAndCompany.com for more information! Furthermore, Equity Agents have access to in-person and online C.E. courses. We also teach the mandatory Annual Commission Update twice per year, host a variety of training courses at our office, coordinate monthly Sales & Marketing Meetings to keep you informed, and more. For all of you “go-getters”, we also have a YouTube Channel with detailed videos that cover just about EVERY scenario you’ll run into as you build your business — all accessible 24/7.
8. Is the broker or sales manager available after business hours and weekends if you need help with a contract?
Yes, with some guidelines of course. We have a Contract and Business Practice Support Line that we monitor 7 days a week. With that said, our training style teaches you to be PROACTIVE so you aren’t trying to complete last-minute contracts at 10pm at night. We have several systems to keep you ahead of the game such as example contracts with detailed annotations, our “Dates and Deadlines Explained” document outlining a Buyer’s or Seller’s responsibilities throughout the transaction, and SO much more. We ensure full support with an extremely quick call-back guarantee.
9. Is the broker a member of the National Association of Realtors?
Yes! In fact, our former Employing Broker, Todd Schuster, was the 2018 Chairman for the South Metro Denver Realtor Association. He helped make the push for FREE education through SMDRA as well as the use of electronic lockboxes in our industry. More information on the Board of Realtors is provided in the next question as well!
10. Will you be expected to be a member, and what are the fees involved?
Yes, we require all of our Agents to be members of a REALTOR® Association. We are big believers in the Board of Realtors from the day-to-day support and services they provide all the way up to the legislative level with RPAC protecting the rights of homeowners and how we conduct business in our Industry. Most of our Agents belong to the South Metro Denver Realtor Association and the fee is approximately $590 per year.
11. What is the commission structure? (a. listing, b. selling, c. company, d. co-op commission)
We were one of the first “100% commission” Brokerage Firms to get started here in Colorado. We charge just $599 per transaction and $59 per month. We charge an additional fee of $1,200 on the first 4 transactions as compensation for our New Licensee Startup program. Our focus has always been to provide full-service top-notch support and systems without charging the 30%, 40%, or even 50% commission splits that some Brokerages charge. This allows you to keep more of your hard-earned commissions without sacrificing outstanding support and tools to help you grow your business.
12. Are regular sales meetings held?
Yes! We host in-person and virtual Sales & Marketing Meetings every other month. We provide detailed meeting agenda’s and work hard to coordinate exciting guest speakers and provide high level training -- it's more than just SALES. We also sprinkle some motivation into the mix and acknowledge our Power Professional Award Winners at each meeting!
13. Is there a bonus plan? At what point is a bonus or commission increase paid?
There are a few "bonus" plans. First, we offer Profit Share! When an Equity Agent refers another Agent to our Brokerage Firm, they receive $100 for every transaction the referred Agent closes for as long as they're both with the company. We also offer a $15k cap fee structure! When you close 25 transactions ($599 x 25 = approx. $15,000), our $599 transaction fee is no longer collected on transactions you close in the remainder of the year. This cap resets every year (like most traditional caps).
14. When do you receive your commission checks? At closings? Monthly, etc.?
We pay your commissions via direct deposit one business day after closing! No more physical checks or trips to the bank… Simply close your transaction and you’ll see your commissions hit your bank account the next business day! If you prefer physical checks at the closing table, that can be arranged too, of course!
15. What type of insurance benefits are offered? (If an associate is an independent contractor, the broker may not pay benefits.) a. hospital, b. life, c. casualty, d. errors-omissions
Our Agents are Independent Contractors (an industry standard), so no health insurance benefits are provided. This is another reason we are big believers in the Board of Realtors — they provide health insurance discounts and incentives! With that said, we do offer FREE Errors & Omissions Insurance to all Equity Agents (saving you approximately $400 per year!).
16. Are the office facilities efficient and modern?
Yes! We offer “class A” office space that is available 24/7 complete with two conference rooms, workstations, color printer, wifi, and more. Additionally, our building was just renovated with a really neat mid-century modern aesthetic. The main lobby has plenty of overflow tables and seating, a massive fireplace, and complementary coffee bar!
17. Does the broker have an office policy manual, an associate broker contract? Can you receive copies to read at your leisure?
Yes and yes! Feel free to send me an email (Paul@EquityColorado.net) and I’ll be happy to provide you with a copy of our Independent Contractor Agreement and P&P Manual.
18. What services does the broker offer? a. home warranty program, b. Referral service, c. MLS, d. lending, e. title, f. lead generation, etc.
We offer everything you'll need to run your business without charging the expensive commission splits. Equity Agents enjoy FREE KVCore CRM Accounts & Websites (a $500/month value), full service marketing packages for listings, an extensive marketing center (customizable flyers, post cards, door hangers, social media posts and more), Brian Buffini Courses with reimbursement opportunities, FREE Errors & Omissions Insurance, FREE continuing education opportunities, discounted "For Sale" and "Open House" signs... The list goes on and on! We'll be happy to showcase these platforms during a consultation!
19. Do you feel like you can fit in with other associates?
We can't answer that question for you, unfortunately... BUT... We have a great demographic of professional, fun, friendly, and approachable Agents and Staff here at Equity Colorado Real Estate. In fact, one of the biggest contributors to our one-of-a-kind company culture is that we've grown our business primarily by referral: happy Agents referring more happy Agents to our Brokerage Firm. If you are a friendly, fun, and professional individual with the "self-starter" mentality, we would love to work with you and introduce you to many likeminded people!
20. How many associates are now employed by the broker, and what is the average income of these agents? Does the broker employ part-time agents? What is the success rate (earning) of associates with less than 1 year (and two years) experience?
Between our five offices, we’ve grown to nearly 600 Agents in the State of Colorado primarily by referral: happy Agents referring other happy Agents to our Brokerage Firm. In the Denver office specifically, we support approximately 300 Agents with the use of our extremely efficient systems — our Agents aren’t just a number to us and we truly know each of them by name. Roughly 40% of our Agents have been with us since we started back in 2009. The remainder of our Agents are either full-time Agents CRUSHING their business or part-time Agents who are in the process of transitioning to a full-time career in Real Estate. Income amounts range from $70k per year to $600k per year. After all, it’s YOUR business — how many transactions do you want to close? This is a conversation we'd love to have with you during a consultation.
21. Will you be an employee or an independent contractor? Can you review the independent contractor agreement?
Our Agents are Independent Contractors (an industry standard). We would be happy to send you a copy of our Independent Contractor Agreement!
22. What are the initial costs of getting started in the office, and who pays? a. signs, sign riders and business cards, b. local Realtor board dues, c. MLS and computer fees, d. advertising and advertising policy, e. selling aids, listing presentations, scripts..
We are very transparent about our fee structure and startup costs. For your convenience, we've created a detailed Fee Summary Sheet outlining our Brokerage fees and other Industry-related fees that you'll run into wherever you hang your license! The cost of maintaining an active license is approximately $170 per month, which includes Equity's monthly fee, MLS fees, Board of Realtors fees, and CTM eContracting software fee.
23. How old is the firm?
Equity Real Estate was founded in 2002 in Sandy, Utah and maintains offices in 23 states. Equity Colorado Real Estate was established in 2009 and we've been helping Agents achieve greatness ever since!
24. What is the average price of homes sold?
According to 2023 transaction data, the average sales price of homes sold within our office was $850,000.
25. What brokerage relationships are allowed (some firms do not allow associates to act as agents, only transaction-brokers, does this fit your personality and goals)?
We allow Agency, Transaction Broker, and Customer relationships. In fact, we have several detailed training resources to outline the subtle nuances when working with a client or consumer within these capacities.
26. What does this firm offer you to ensure success?
At the very core, our mission has always been to provide outstanding support, tools, and systems to our Agents while maintaining an EXTREMELY affordable fee structure ($599 per transaction and $59 per month). This allows YOU, the Agent, to pocket more of your hard-earned commissions and reinvest your money where you see fit: your business, your family... your choice! We've covered many of our services in the questions above (KVCore CRM Accounts, Marketing Packages, Training, Support Hotline, Annotated Contract Examples, and MUCH more), however, what makes us unique is that we are down-to-earth, approachable, friendly, fun, and professional individuals who have a passion for the Real Estate Industry. We enjoy solving problems WITH our Agents and improving our systems when we aren't fielding questions. With each Agent we hire, we make a commitment to provide the best customer service and support to help individuals reach their full potential: both personally and professionally.
27. What, if any, affiliated business relationships does the firm maintain? Are there allowances for the associate to develop new or additional AfBA’s?
We have an in-house mortgage company called Ohn Home Loans (pronounced "Own")! The biggest advantage of having an in-house lender is we can directly control process flows and ensure outstanding customer support and loan products. Furthermore, Equity Agents have access to an outstanding mortgage professional for questions, mortgage updates, and other services (marketing, open house packages, and more). Equity Agents are by no means required to use Ohn Home Loans and we have outstanding relationships with many lenders in the industry!
Equity Colorado Real Estate was founded in 2009 and has been helping Real Estate Agents grow their businesses ever since. In 2023, Equity Colorado Real Estate was ranked a Top 10 Brokerage in Denver & Boulder according to the Real Trends 500 Report. Whether you are a brand new Agent or an experienced Agent, we would love the opportunity to earn your business and empower you to close MORE transactions and retain MORE of your hard-earned commissions. We look forward to helping you achieve greatness! Let us show you why nearly 600 REALTORS® have joined Equity Colorado Real Estate across the Colorado Front Range! Please don't hesitate to reach out with any questions.
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Paul L. Wineinger
Managing Broker | REALTOR®
Equity Colorado Real Estate
Paul@EquityColorado.net
Contact Paul to coordinate a consultation today!
