Hi Everyone,

I know that this may sound to some of you like the dumbest question ever, but you know what they say.....it's even dumber if you don't ask. I just passed my Broker's exam, last week as a matter of fact, YAY!!! I am being presented with becoming the broker for a new start up company. As such I am not able to compete with my agents for sales and will be spending most of my time recruiting, building the business and making sure as you all know that everyone under me is following the rules. I have searched for hours on the internet to find a site such as salary.com to find out what the base compensation for this position would be. No where does it list Real Estate Broker. Can anyone help me out, I am not talking exact dollar figures just a ball park figure to make sure that I am not being taken advantage of. And I can't imagine if I have to be traveling the state to recruit agents and covering my own travel expenses that this position would be commission only. Am I wrong? Like I said it may sound dumb but I have to ask anyway.

Thanks

Roni,

It really depends the size of the company, but -- most importantly -- on the profitability.

No profit = little money.

Roni,

PM me with some details of office/number of agents/your experience as an agent and such and I can give you a ballpark idea.

As with most employment a lot of the details are what is agreed between employee and employer. Several factors enter, including your experience both in real estate and as a manager. Needless to say any fringe benefits offered might also impact the rest of the package.

I would strongly suggest that you have your expenses covered by the company if at all possible; perhaps you front the money and they reimburse you (and they might have guidelines limiting the amount of reimbursement). On fringe benefits consider if they will offer you a tax deferred program to contribute toward your future retirement. As far as actual cash compensation I would suggest that you look at a base salary plus an incentive program (for example some percentage of gross commission income).

There are a lot of ways this can be structured, make sure you look at the options available and longer term picture (start up can be tough!).

If you are going to go this route I suggest you be paid a salary plus a performance bonus for each goal you reach.I have known other brokers who grew a company of 75 agents to over 400 and only made a salary.The prinicpal broker that owned the company said thanks for helping me but no thanks in sharing.

This is why upfront if you are going to pour your heart and soul into a company that you share in the rewards also otherwise you are just being used.jmho