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Real Estate Investor · Chicago, IL · Member since 2008 · 1k+ posts · 218 votes
19y
Wow 60/40 in favor of the broker, yeah I don't agree there.
Here is what I think. Either 100% commish with desk fees (after all there is still the hassle of hanging the license and dealing with all those forms, issues, etc).
Or,
Something like a 70/30 split with teh BROKER taking 30, up to a set CAP. Meaning once the broker makes $X then it should move to 100% commish for the agent.
That to me is a sound practice. The broker gets their money, but doesn't rape an agent that is producing a ton.
Residential Real Estate Agent · Moriches, NY · Member since 2008 · 635 posts · 9 votes
19y
without the broker who puts it all on the line - as the owner of the business - the sales agent would not make ****.
forget the fees - if you don't like 60/40 - 50/50 i guess is okay.
now if you're working in teams with other agents - then maybe the broker takes 30%.
if the broker wants to charge all fees, to me that's just defeating the purpose of the business - but i know alot do that. there are also those that take a comiss plus fees - eeewwww....
BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
19y
Originally posted by "noobdog1":
i think a 60/40 split is fair - straight up.
broker 60 - sales agent 40
Sorry, but that is just a bad deal. I've heard of brokers trying to get as much as 50% from agents, but even that is too much. There are usually plenty of companies to choose from, and most will negotiate. I think 60/40 for a new agent is fair (60% to the agent), while more experienced agents shouldn't settle for anything less then 70/30 or higher.