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For now, I just plan to hire my nephew and i paid for his education classes this morning and he started to attend classes as he has a lull in his schedule RIGHT NOW. From everything I have read...it sounds to me like I will be treating him as more of an employee. I guess I'll have to suck it up and do the paperwork and pay the additional taxes associated with that. I think it is fair though because I will be paying for EVERYTHING for him to get started and training him with all the knowledge I have, that he should sign something that obligates him to me for a period of time. I honestly don't think it would become an issue but I've learned to clearly spell everything out. I don't want him to think he could just go work for someone else if someone tried to recruit him.
Silverfall. In future, I may bring on an Agent or two and I realize any established agents will not want to sign a non-compete. He is the only one I am really interested in "training" at this point as I think he has all the right qualities and I feel we could work really well together. Otherwise, i am only interested in possibly finding one or two seasoned Realtors who are looking to make a change.
Brandon. It sounds like you have had people sign non-competes...is that right? Is that just a clause you add to either the Independent Contractor Agreement or whatever the other will be called I guess Employee of Brokerage contract....
Last edited by homeadvisor; 05-11-2015 at 02:01 PM..
Reason: errors
For now, I just plan to hire my nephew and i paid for his education classes this morning and he started to attend classes as he has a lull in his schedule RIGHT NOW. From everything I have read...it sounds to me like I will be treating him as more of an employee. I guess I'll have to suck it up and do the paperwork and pay the additional taxes associate with that. I think it is fair though because I will be paying for EVERYTHING for him to get started and training him with all the knowledge I have, that he should sign something that obligates him to me for a period of time. I honestly don't think it would become an issue but I've learned to clearly spell everything out. I don't want him to think he could just go work for someone else if someone tried to recruit him.
Silverfall. In future, I may bring on an Agent or two and I realize any established agents will not want to sign a non-compete.
Brandon. It sounds like you have had people sign non-competes...is that right?
You're building a team or you own your own brokerage?
My own Brokerage. At this point this is the only person I am bringing on and...he is totally green, so it may sound like more of a team I guess. I do envision us as a team but I plan to allow him to do some of his own business in future if it all works out as for one, he will be going "home" to a different city than I in summers...only 2 hours away so I will join that Board. He is attending college in my town and I thought this would be a perfect part time job for him as needs something flexible because he also plays hockey. He is a natural sales man and smart as well. I just want him to realize he is obligated to me as 20 yr olds can be ....stupid sometimes. I'll pour myself and teach him everything I know but he is going to stick with me in return. Shouldn't be an issue but I'd rather spell it out.
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