About This Blog
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Peter Siegel, MBA is a nationally known consultant and author - with over 25 years experience on the topic of selling, buying, and niche financing (the purchase of), small to mid-sized businesses. His clients include: business buyers, business owners/sellers, small business advisors, business brokers, and agents. Mr. Siegel can be reached directly by phone at (925) 830-3447. |
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This Blog contains observations, tips, news, events, and case studies relating to selling or buying a small business. |
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This Blog is ideal for business buyers, business owners, advisors, business brokers & agents. |
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Opinions expressed on this site do not necessarily represent those of USABizMart. |
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Opinions expressed here do not constitute legal advice. Those interested in specific guidance for legal matters should seek competent professional advice. |
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10/8/05

Changing Brokerage Situation. Going Out On My Own!

Leaving has been hell but soon will be heaven.
I left the broker I have been working for the last 6 months and went to another broker. I left for several reasons. First and most importantly, I did not feel that I was getting enough bang for my buck. I know it's customary to be on a 60/40 split when your new in the industry but if your a smart broker and you see your agent is doing very well in every aspect, you should offer them better deal.
The broker I worked for really thinks everyone is just going to leave no matter what so he doesn't make much of an effort to keep people that are good. If fact there is only one agent in his office on a better split. Every agent must decide for himself whether it's worth it or not. For instance, let's say I was the type of person who had a question every two minutes or I had trouble grasping the job, it might be worth 40% to be with a good broker that would hold my hand for every deal. That is not the case with me. Initially I would ask a question and I only would ask it once, in the last few months I rarely spoke to my broker. Maybe once a week we would catch up on the deals etc..
Also, to be honest, I was sick of having no supplies in the office. That place was always missing something or the equipment wasn't working correctly. I just never felt comfortable working there. I was cramped in a little cubicle, which I found degrading when customers would come into the office and see me there.
Lastly, there was someone in the office who had been rude and condescending to me from the day I got there. That person needed a strong leader to put them in their place and my broker wasn't up to the task. I just had to get out.
Now I pay a fee to use the brokers license and I work out of my home office. The hell has been setting it up to be functional but I'm getting there and I like it so much more. I am getting a lot more work done, due to no travel time and I find I'm more focused. I will probably move into a proper office after the new year but for now this is perfect. The one thing I'm really looking forward to is getting 100% of my next deal! Comments & Advice From Peter:This usually happens in this industry where agents work for a business broker office and then go out on their own. This usually happens with independent thinkers and doers like you! With all the tools - software, websites, and tools for brokers this trend is advancing in the business brokerage community.• Technorati • del.icio.us • Digg It • Furl • ma.gnolia • Spurl • Yahoo MyWeb
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