Opening a real estate brokerage with a non-broker partner

[Natalie Stanley]

Hi! I am hoping to see if anyone has advice on opening a brokerage where one owner is the broker and the other owner is an investor. I am a rental property investor and have about 35 properties. I am opening a brokerage with my long-time realtor with the goal of building out a property management side and sales side of the brokerage. We will own the company 50/50. Splitting all start up fees and go forward expenses. All of my rental properties will be going into the business on the property management side which will provide the company immediate income. What my agent and I are trying to figure out is what is a fair split for the sales side of the business as it relates to the broker doing business. What percentage of the 3% that the broker brings in from sales should go straight to the brokerage instead of as a commission to the broker? Are there other ways people have structured this that they could share? For further context, I am not taking on the role of a silent partner in the company. I am an attorney and will be very involved in the startup and go forward of the business and building out of the sales and property management sides.