Becoming A Real Estate Agent: typical splits/ compensation for a new RE Agent on team
Hi All,
I am an experienced investor/landlord who is ready to leave his 16 year job. I want to gain more access and credibility in the real estate market, and like the idea of uncapped income potential as a realtor (my old hourly medical job was capped). I have a friend who is a successful realtor of 16 years and was thinking of joining his team. I am awaiting the actual pay breakdown to be able to project some type of income. What is a typical pay breakdown? His team seems it would provide a lot of support and potential clients/listing so I imagine the split between sales is higher for more support. I just want to know how it went for you as a realtor when you started out, what is typical? What is to be expected of me/the team?
Thanks!
Most Popular Reply
You nailed it - "it depends"
If you're just looking to do some rough projections, then I would assume a 50/50 split between you and the team (and don't forget to include whatever you owe your broker in your projections). I would expect that the actual split could be 50/50 +/- 20 depending on things like the level of administrative support, lead source, and volume.
Good luck!