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(Edit: Sorry I didn't put this in the RE Prof. section)
I would like to possibly get into suburban residential Real Estate in the next year. I have noticed that it is difficult to find information on the commision splits of the different agencies online (except for Keller Williams, I have found plenty of info). I understand this is a sensitive subject (for some reason) but if som1 could summarize ANY of the following agencies, it would help.
You should go in and discuss with the local broker/owners. You can negotiate splits and company policies with them because you may have local variations. ERA/C21/CB are all Realogy companies so they will likely be similar in terms of what they offer. I do prefer ERA of those 3 because IMO they have better tools and technology, not to mention the guaranteed sales plan. Keller Williams and Re/Max are different models so meet with them as well.
I don't live in DFW at this moment, but I am from there (and Ebby Halliday seems to be a very successful brokerage, esp. in Plano area). I am considering Arizona, Texas, Oklahoma, California and Washington State in terms of region. I am young (21) and trying to figure out my future after college (in Oklahoma). Due to my age, I am looking particulary into starting as an assistant agent to a well established agent.
Ebby is great for training, but no matter what, you start at 50/50. I started there for a year and a half and decided she was taking WAYYYY too much money, and jumped ship to RE/MAX for the past 8 years.
All other brokers have multiple plans within their brokerage, as each office is independently owned and operated. One RE/MAX office might have an 80/20 while another might have a 60/40 and another might offer both plans. You have to interview in the specific market you're going to move to.
2. When considering brokerage costs, look at ALL costs, and also at what point you cap annually on payment to the firm.
Forget the entry split, as it is not as important as your final calculated split after you cap on company dollar and royalty.
Whether you can go in at 64/36, 50/50, 70/30 is not as important as what you will average for the year.
You should have a goal of $150,000--$200,000 GCI in year 3-5, with a final split of about 85/15 to 90/10 after capping, which would trend lower as you raise the GCI. Include any nuisance fees from the firm.
3. Anything less, it will be time to open your own firm.
Ebby is great for training, but no matter what, you start at 50/50. I started there for a year and a half and decided she was taking WAYYYY too much money, and jumped ship to RE/MAX for the past 8 years.
All other brokers have multiple plans within their brokerage, as each office is independently owned and operated. One RE/MAX office might have an 80/20 while another might have a 60/40 and another might offer both plans. You have to interview in the specific market you're going to move to.
Thx alot! I was really wondering about Ebby Halliday, but it is way smaller agency than the others I listed and didn't think I would find som1 who would be able to tell me.
2. When considering brokerage costs, look at ALL costs, and also at what point you cap annually on payment to the firm.
Forget the entry split, as it is not as important as your final calculated split after you cap on company dollar and royalty.
Whether you can go in at 64/36, 50/50, 70/30 is not as important as what you will average for the year.
You should have a goal of $150,000--$200,000 GCI in year 3-5, with a final split of about 85/15 to 90/10 after capping, which would trend lower as you raise the GCI. Include any nuisance fees from the firm.
3. Anything less, it will be time to open your own firm.
Thx alot! I was really wondering about Ebby Halliday, but it is way smaller agency than the others I listed and didn't think I would find som1 who would be able to tell me.
Ebby is actually the largest independently owned brokerage in the state of Texas, so they're not that small. They have about 1600 agents and about 28 offices. They're just not known outside of the DFW area because they never spread further.
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