Weichert Realtors

  www.weichert.com
  www.weichert.com
There are newer employer reviews for Weichert Realtors

6 people found this helpful  

Under-valued &Under-paid

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Current Employee - Sale
Current Employee - Sale

I have been working at Weichert Realtors

Pros

It's a good place for people to start their real estate careers. They provide excellent training resources and offer free online courses. There is brand recognition and they have a good web presence. And, because it's not franchised like most other brand name realtors, it's possible to use an office in another town if needed.

Cons

Weichert requires their agents to do for free what other brokers pay administrative staff to do--yet treats them like paid staff. For example--they don't pay receptionists--agents must take turns answering the phones, keeping the offices open, and performing other administrative services--for no pay. There is also a very bureaucratic administrative system in place that agents must spend a lot of painstaking time complying with; whereas again, other brokers have paid staff to perform these tasks. In addition, they ask that agents take on time-consuming, extra-curricular positions such as Lead Mentor (assigning mentors to new agents), Lead Network Manager, Open House Coordinator, and other unpaid endeavors.

Weichert does not seem to care about its agents and does very little to support them. They don't provide adequate office supplies, they’re supposedly bound by leases to failing, outdated office equipment; and have a poorly designed online agent transaction / interface system. They refuse to implement / pay for a program such as Adobe Writer so that contracts can be adjusted & saved online, which results in contracts needing to be completely re-written. In a fast-paced, multiple bid situation this can be a major drawback. They rarely do what they say they'll do regarding office improvement and aren’t forthright about potentially unfavorable changes within offices or company policy.

Weichert takes a larger than average percentage off the top of the commission before it's split for "marketing" fees, yet makes further deductions in agent earnings for client follow-up cards & MLS fees per transaction--expenses that fall under marketing--in my book. They also require agents to pay for an annual subscription to utilize their marketing website in order to create materials for listing presentations & brochures. The highest commission split paid by Weichert is also lower than most other brand-name, and even independent realtors.

Since Weichert has it's own financial / mortgage, title insurance & insurance companies; agents are also prodded to sell those services to home-buyers. Title insurance representatives routinely visit sales meetings with a collaborating attorney, in an effort to influence agents to refer those attorneys to their clients so that Weichert can capture their Title Insurance business—regardless if it’s in the best interest of the client—but it is optional and disclosure forms are given to clients when writing contracts.

Weichert appears to spend a great deal of time & money figuring out myriad ways in which they can make more money off of agents (other than selling real estate) --such as charging exorbitant amounts for marketing that most other brokers provide free of charge; and they’re continuously trying to sell their agents personal insurance, supplies, paid courses (which usually end up being superfluous) and various other "services"; often via invasive junk mail campaigns.

Incredibly, substantial effort & expense is geared toward the invention and implementation of contests, games & raffles intended to provide sales incentives, or persuade agents to hand over personal information of people from their own private spheres of influence--so that Weichert can try to recruit them (for a meager reward to the agent--if any). They've also set up "free" seminars where agents are blind-sided with a sales pitch to attend some super sales guru course (of which they're undoubtedly getting a cut of).

Weichert frequently makes mistakes to their advantage when issuing checks, so that agents must chase their money. There is also a considerable lag time between an agent submitting checks for a closed transaction and receiving their own compensation. When recruiting new agents, Weichert touts its extensive referral. relocation and lead network opportunities--but doesn't tell prospective agents that they'll be taking 85% of the commission on these transactions; and then they have the gall to strongly encourage agents to work for such a minuscule share--at their own expense.

Weichert is basically a weighing station whereby people attend their licensing schools, and are then recruited & required to pay for and complete their training program; and purchase marketing supplies through their affiliates.

In summary, Weichert is asleep, out dated, close-minded and appears to be quite content with their revolving doors; as long as the new recruits keeping coming through...

Advice to ManagementAdvice

It's pointless to offer advice because it's never heeded. But clues may be gleaned from the lengthy list of "cons" above.

Doesn't Recommend
No opinion of CEO

86 Other Employee Reviews for Weichert Realtors (View Most Recent)

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  1. 5 people found this helpful  

    Control Your Destiny...Remain Independent

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Weichert Realtors

    Pros

    Branch level operates well with superior tools/systems (some of the industry's best) readily accessible to all associates

    Cons

    corporate level management has not kept pace with market, customers (both internal and external); a classic misstep of HQ banging an old drum;

    Advice to ManagementAdvice

    Quit the internal focus groups of the "yes" men; get out with the consumer and absorb....always remember the associates are not your children nor are they simpletons; deliver a message tailored to your audience!

    Doesn't Recommend
    Approves of CEO
  2. 4 people found this helpful  

    No mid level jobs

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Career Counselor
    Current Employee - Career Counselor

    I have been working at Weichert Realtors

    Pros

    It is a good commute for me.

    Cons

    No job growth opportunities and you have to log in and out of your phone to show where you are at all times.

    Advice to ManagementAdvice

    Give those that earn it a good raise. You have lost a lot of great people to other companies b/c you weren't able to keep them happy~

    Doesn't Recommend
    Disapproves of CEO
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