Does your broker require that any pay for BPO work go through them or are you paid directly? I'd prefer direct to me but was wondering what the norm is.
And does your broker take a cut or how is it done? Thanks!

i get paid directly by all, and he gets no cut, the minute he ask for a cut, i will change companies

The state in which you are licensed dictates who gets the check first.

Yes, first check with your state's real estate division to make sure that it is legal to be paid directly. Don't rely on your broker to tell you if it is or isnt. If its legal, I highly recommend you get paid directly. If you are using your broker's resources to complete the work, or if he is mentoring you with your BPOs, you should work out a monthly fee. But don't let someone handle your money for you if you don't have to.

Most states require the check to be sent to the broker first. If they are sent directly to the agent when they shouldn't be those agents will have their troubles once they do their taxes.

isn't that what the w9 is for?

You'll need to check your state laws and your broker's policy. In Ohio, we can be paid directly for BPOs, but if my broker had a policy that didn't allow it, I would have to be paid through the brokerage even though our state law allows us to be paid directly.

No not necessarily, you need to check with your state rules.

In New York, a qualified agent can have a broker license in their own name as well as a Salesperson or Associate Broker license with another agency. If you have a Broker license you can then receive compensation directly. If you go that route check with your sponsoring broker first so it doesn't appear you are trying to hide anything from him. If he doesn't like it then change brokers.

In CA, they come to me directly. Only one BP company issues my check with the company name and my name on the address line, but made payable to the company name. I just hide it within all the other checks when I make my deposit and it never gets kicked back.

Wow you are commiting a felony. You cannot cash a check made out to a company if you are not authorized to do so.

"hiding the check" is unethical and wrong.

Thanks for the responses you guys! I'm in Ohio and have a friend agent who suggested to do some BPO's to generate extra pocket cash and possibly get some reo listings too.
I'm expecting my broker to screw things up for me sad to say. He'll either want a cut or will just slow down the process for me even though he could get the listings downline.

Not only is it unethical and wrong you could risk losing your RE license. In California you are not allowed to receive payment directly for your services if you are not a broker. Even if you may be an associate broker, if your license is under another broker payment must go through the broker. What the brokers portion is, can be neogotiated. I don't have to give a cut to my broker, however all checks go through them.

If you broker will mess things up for you switch brokers.

I never had a Broker ask for a cut of my BPO fees when I was an agent. I think they understood I was trying to build a business that would eventually benefit them as well as myself. If your Broker wants a cut of your measley BPO fee go somewhere else. There are a million co. that would like to hire you, especially right now in this depressed market. GO AFTER IT, PERIOD!!!