Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Do you approach RE Brokers, firms, etc... when you are in the process of getting your salespersons license, or do you approach them once you actually receive your license?
Also, what would be a reasonable commission split to expect working for a big firm, either KW, Rodeo, Coldwell, etc... I am assuming the Commission split is very much negotiable, but asking for 70% for the agent and 30% for the firm, with the agent paying for all expenses including insurance? I am in California.
As soon as you decide RE is what you want to do. I imagine commission splits with the brokerage are similar state to state. I'm with KW in VA and beginning agents start with a 50/50 split at my brokerage. By attending a 4 week new agent training, that split gets bumped up to 70/30.
Quote:
Originally Posted by armenh
Do you approach RE Brokers, firms, etc... when you are in the process of getting your salespersons license, or do you approach them once you actually receive your license?
Also, what would be a reasonable commission split to expect working for a big firm, either KW, Rodeo, Coldwell, etc... I am assuming the Commission split is very much negotiable, but asking for 70% for the agent and 30% for the firm, with the agent paying for all expenses including insurance? I am in California.
I am a broker in Kentucky. I will hire a new agent at 95/5 plus a minimal broker management fee, their share of the office expenses, and advertising. Yes, that's right I am a RE/MAX broker and every one of my agents set their own commission split. No one earned less than 65/35 last year, while top producers take home a true 85-93% after expenses.
I am a broker in Kentucky. I will hire a new agent at 95/5 plus a minimal broker management fee, their share of the office expenses, and advertising. Yes, that's right I am a RE/MAX broker and every one of my agents set their own commission split. No one earned less than 65/35 last year, while top producers take home a true 85-93% after expenses.
A business model that has requires the agent to pay monthly fees probably isn't the best fit for a new agent. I know most if not all Re/Max offices offer a straight split, but there are agencies out there with better training programs for new agents.
A business model that has requires the agent to pay monthly fees probably isn't the best fit for a new agent. I know most if not all Re/Max offices offer a straight split, but there are agencies out there with better training programs for new agents.
Of course there is that perception, and I agree, the typical rookie isn't for RE/MAX or vice versa; however, give me a professional business person and I'll get them to six figures faster than any other broker in my area.
The days of people piddling in real estate are over. Yet, now is a perfect time for business people to consider entering the business.
The days of people piddling in real estate are over. Yet, now is a perfect time for business people to consider entering the business.
Oh, they won't be over until the business model changes.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
