how did it feel for you guys when you did your first RE closing and got a first commission check from your broker?

im sure eveyone would have a good experience, but in details like what kind of thoughts came in to your mind?

thanks for sharing your thoughts.

Well over 6 months into the business, with all the cash flow being out bound up to then, it felt very good to think that finally things are starting to go the right direction!

When I got in the car after closing, I finally looked at the commission check. (in our area we pick up the gross commission check and turn into broker)

I thought the check was $1000 too small. Why had I not looked at the closing table. Then I remembered that since my broker held the earnest money, that amount was subtracted from the commission.

First closing I had was for about 6,500.After 50/50 new agent split and franchise fees,etc. I made a little under 3k.

I knew from that day forward I would become a broker and do my own deals.Fast forward 5 years later and here I am.

For me it was relief because about 4 days before my closing my broker and I had a huge falling out and I left the company, and she threatened to keep my commission check.

I guess legally, she was entitled - it was legally "HER" client, but the client was a personal friend who used me to buy their house based on our relationship, had nothing to do with the brokerage other than it being an office listing (which the brokerage also did not procure or advertise, it was the house of one of the agents in the office.)

I was concerned about the pure spite displayed - and the broker had done that to someone else previously, so I was thankful to receive my check when all was said and done.

I do know that I want to have my broker's license so that should I find myself in an unpleasant situation again, I will have something to fall upon if need be.

Perky:

You are "right on" with wanting a broker license. It worked for me when issues (not commission fortunately) came up with my former sponsor. I helped 2 others who also left that same sponsor get set up in business too; also I'm helping another person at different agency that is currently making that move.

The only way to have control of your business is to own it.

Mr. Foreclosure

I still have a copy of my first check along with the original pay stub from 1997 in my scrapbook.

My emotions on getting that first check? Accomplishment. Relief. And also a bit of a disappointment... it was only about $1,500. I worked my butt off for that $1,500.

i can definity see that having the right broker is an important thing to protect the money that you worked hard for, and steping up a level and becoming a broker might be a better way to go. guess wether it was a small check or a nice big check, just going through a real transaction and getting it done for your customer will always remain as a moment for everyone.

thanks

My first closing was very exciting! The buyer and seller had to be placed in separate rooms because they had a fight at the walk through.

I don't remember the amount of my first check, but I do remember my broker bought me a 12 pack of Diet Coke and taped my check to it

I think I was happier about the Diet Coke than the check.

I was proud of myself. It was a rather difficult closing, no training, no support, I got it done. I took the check to my office turned in the paperwork and was given my check. No "good job, congrats", just a check.

When my wife got home I kind of excpected a little excitement and she said " Thats it".

I was still proud though and had a one man celebration. I still have a copy of it on my wall. Dec,21 2005 $1,494.82 (I was on a 50/50 split).

My very first walk through was like that - I wasn't representing anyone just going there to help the buyer's agent out who was out of town - the sellers were there, and they were ready to fight, the buyers were mad because the sellers were trying to leave behind some crappy furniture and ancient computers!

My seller, who got 10,000 MORE than asking AND charged the buyer for the balance on all his warranties, actually accused the buyer of nickel and diming him, LOL! He also tried to throw out the selling agent. He yelled at her and said "you represent HIM! Why should I let you in?" The seller's agent calmly replied the she and I both represented him, the seller. At that time we still had sub agency and she came as a sub agent.

ROFL - it's amazing what comes up after the house goes under contract, when you'd think people would be happy and excited, nooooo, they have to become worse and worse!

My first closing...Shortly after I got my license an agent had basically handed me a listing because she was afraid to get out of the car in the neighborhood where the listing was. We put it into the system (before computers) and the day the listing book came out someone came in with a full price offer. It was as-is and a non-qualifying loan assumption which closed a few days later. My check was about $600 and I was estatic. Man! real estate was going to be great! Well my second closing.....about 10 months later....that was the one that really felt great.....