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#343101 - 07/06/10 07:23 AM Re: Check to you or broker first? [Re: Vermont]
OverTheEdge Offline
Veteran Member

Registered: 08/24/08
Posts: 1008
Loc: Middle of Ohio
I work on 100% no split. I pay a monthly fee to my broker. He doesn't care what I do - he never hassles me about anything. He is awesome and whenever I need some crazy piece of paperwork or even to have an AMC added to the general liability insurance - its just done. I can ask for anything - and he is right on it. I had a pre-list that was still active in the MLS - could no find the listing agent - still an active member - my broker called MLS - and the next day - the agent called me, met me at the property with his seller - seller got the rest of the junk he wanted - done. He is one of the best brokers out there - been with him since 1999 and I can not image being anywhere else. By the way - all income as an agent here in Ohio - must go through your brokerage - checked on this with the brokerage accountant and a real estate attorney. BPO or not - its gotta go through the books. I get the call from the office manager asking if checks I get are BPOs or reimbursements. BPOs through the books - reimbursements are my headache.
_________________________
"No cause is lost as long as there is one fool left to pursue it". Wil Turner

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#343117 - 07/06/10 11:19 AM Re: Check to you or broker first? [Re: OverTheEdge]
REODayton Offline
Major Contributor

Registered: 07/27/06
Posts: 3699
Loc: Dayton Ohio
I can get paid directly for BPOs in my state if the broker allows it. I keep 100% of BPOs. He got tired of writing checks every other day, causing accounting work, etc. I prefer it to go to the brokerage, I did not have to track so much, it was provided for me. Now I do it myself.

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#343489 - 07/09/10 11:56 AM Re: Check to you or broker first? [Re: REODayton]
superagent Offline
Member

Registered: 04/20/08
Posts: 110
Loc: CA
How about CFK bonus? Does your broker take a cut, mine does.

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#343496 - 07/09/10 12:32 PM Re: Check to you or broker first? [Re: superagent]
OverTheEdge Offline
Veteran Member

Registered: 08/24/08
Posts: 1008
Loc: Middle of Ohio
Wow - takes a cut of your bonus? When I was with a different brokerage many years ago - I was on a split but bonuses were ours to keep - no cut to the broker. My very first sale was a mobile home - yes - I am quite proud - and the lender that held the loan paid me a bonus because my buyer did the loan through them as well. Broker did not take a cut - right then and there I knew I could be a realtor because I sold a mobile home and I got a bonus that was equal to the commission. Total check was $1500. Hey wait - some of my flat fee commissions these days are less with no broker cut. Uh Oh.
_________________________
"No cause is lost as long as there is one fool left to pursue it". Wil Turner

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