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Real estate group hunts for brokers: Top commissions and Oktoberfest tour

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Australian Broker | 19 Sep 2013, 08:00 AM Agree 0
A major Australian real estate network is pulling out all the stops in an effort to attract broker franchisees
  • Patrick McMenamin | 19 Sep 2013, 09:12 AM Agree 0
    Unfortunately, if you read the fine print in the Hooker agreement, they reserve the right to set sales targets and increase these annually. If you fail to meet these targets they can terminate the agreement and retain 100% of the trail book. So this is not a "business opportunity" it is a straight commission sales job with no security of tenure.
  • Glenn | 19 Sep 2013, 10:21 AM Agree 0
    The real issue about the LJ hooker model isn't the finance side of things it is actually having to work with real estate agents.
  • Papery | 19 Sep 2013, 11:38 AM Agree 0
    and thats not the worst of it Patrick!
  • Paul O'Regan | 19 Sep 2013, 02:26 PM Agree 0
    I need to clarify that LJ Hooker Home Loan franchisees do not relinquish 100% of their trail book if they leave LJ Hooker, which is a part of our unique selling proposition. If you'd like to discuss this further or have any questions surrounding our competitive offering I encourage you to contact me direct. Email poregan@ljhooker.com
  • John from Geelong | 19 Sep 2013, 02:40 PM Agree 0
    If a real estate company is serious about taking an established broker on, they will bring him on board taking zero % of his business until theirs is performing, with no handcuffs or restrictions. When they demonstrate respect for me and my business I'll talk to them, otherwise they are just trying to build income on my back.

    I am once bitten, twice (or thrice) shy.
  • Dissappointed & also twice shy | 20 Sep 2013, 01:54 PM Agree 0
    Here here John......Im hearing you & felt the pain also. Poor old Broker gets to work really hard for little reward watching so many others take chunks of the comm pie along the way for no effort....especially when your running the treadmill trying to get established.
    And I did have my Trail book withheld.
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