Are there any companies offering this kind of split for a newbie, without desk fees. I am in NJ...appreciate your responses.

There might be. I would suggest calling your local agencies and just interviewing them and ask. Some Agencies will start off their newer agents at a 70/30 split and after a few sales, move you up to 90/10. Others will offer a lower split but cover some if not all of your expenses. Either way, make sure you weigh the pros and cons of each office you interview with. I am sure you will get more input from other agents as far as the major offices. Just wanted to give some quick input on this matter.

there is a few offering 100% with either a per transaction fee or monthly desk fee, but be careful, you will not get any support or training.

vik --

There is no free lunch. Your brokerage will either give you a modest split with limited monthly fees or a high split with substantial monthly fees.

Particularly in the beginning, you need to focus on getting good training, mentoring, and tools.

others have hit the nail on the head. You really need to focus on being with a broker/brokerage that is going to set you towards the path to success. Unless you come to the game with years of vast real estate experience you are going to be going into lots of new territory- support, training, advice, etc. will be critical to your success.

There are 100/0, just flat anual feel. But think - 0 from 100% =0
something from 50% is something.

I'd try and find a Broker that would give you 99.5/.5! Now that is what I offer our people. That .5 really pays off when the agents, (New & Old) have 2 million questions and problems to work out on every deal that slides into the pending folder. Broker means "Broke" I guess. BigC

My brokerage charges $69/month, offers a 100% split with $40 E&O per deal and $240 off your first deal each month. My broker has almost always been available to me when I needed him (much more so than the brokers who took 30%-50% from me in the past), free website, weekly training if you choose to attend. Overall - a great company to work with.

While you might not be in my neighborhood - if you look around you might very well find something similar. Call every brokerage you can find, ask them all the same questions, and take notes so you can compare once you've got all your information put together.

Thank you guys, that was great insight. i am looking to do this part-time starting of with some people i know and some for investments.

Manfromtheband, do you know any broker in NJ that offers the deal you are getting? is the broker you working for local or nationwide? i would like to get the deal you are getting? how did you go about getting it?

thanks once again

I was in a 100/0 with $300 fee per transaction. No desk, no training, no nothing. I was working from home, which was OK.
Now, for a newbie, training is everything...

>>I was in a 100/0 with $300 fee per transaction. No desk, no >>training, no nothing.

thanks cody.

hard to find this though. I am in NJ. i called almost every broker in my area and nobody offered this. Is there a special breed of brokers offering this?

Yea they're called Stupid Broke Brokers. SBB.

Vik,

It doesn't sound like you have earned the level of choices you want. If you are going to be doing this part time, you probably don't want too much of a hefty monthly fee, but it will all depend on if you plan to have this career for a while.

You are brand new! Go with a company that will offer you training! Don't worry too much about the commission! It is not your business to worry about that right now! Training is EVERYTHING! If you go with a company that offers a higher split and no training, what are you going to do when you get stuck on a contract with a client? You will be so lost, it is unbelievable.

That is all we need in this business. More newbies that care more about their commission than learning how to do things right. Just remember, it's the agents that don't care to learn that mess up a lot and get thrown out of this business.

Worry about learning first, then your commission. Most brokers won't take part-time newbies and give them 100% commission split.

Hi Vik,

Believe it or not, it's the standard (and only) commission program from my brokerage. Currently we're only in Florida with about 100 agents or so. All you have to do to get the deal I'm getting is sign on the line which is dotted.

Also believe it or not, this is the best broker I've had (out of 3).

The first took 50% of my paycheck in exchange for "excellent training" which amounted to dropping a phone book on my desk and saying "I recommend you start at Z because everyone else starts at A".

The second broker gave me a 95/5 split but I had to pay $1,400/month in desk/management fees and I couldn't get him on the phone when I had questions for the life of me.

And now my current broker answers my calls, returns messages promptly, provides training (if you want it), has a great attitude, is helpful when I need him, and not leaning over my shoulder when I don't...it's really a great environment if you're reasonably self-sufficient.

Call absolutely every brokerage you can find in the phone book and set up interviews (EVERY ONE - including the ones that aren't affiliated with the big franchises).

Realize that every broker is trying to sell you something, take everything they say with a grain of salt until they've earned your trust, and ask other people who work at the brokerage how happy they are/how long they've been there/how business is, what they like/don't like, etc. Yes, it amounts to a lot of work doing all this for multiple brokerages...but this is going to shape your business. Put in the appropriate amount of ground-work and you'll be in MUCH better shape than 95% of the other new (and veteran) agents out there.

blanket statemenets like that do not hold true in a world of independent contractors and brokerages that are independentley owned and operated.

dont forget that every broker runs their shop differently. i work at a 100% shop and i have been at a few places and the best training that i have gotten to this day is from the 100% company.

A lot depends on geography. Around here, unless you are willing to take considerable desk fees - it's 50:50 - but almost NONE of the brokerages do nearly enough in the way of training and support to begin to justify such high fees. Those that tell you that you are "costing them" that much are full of ...you know what. What you are doing is supporting the infrastructure for the big guns who demand a lot of services but pay practically nothing.

I am getting a 50/50 split to start with no desk fees or anythingand they even pay for most of the advertising, professional pictures and have people to do your admin work. commission goes up based on proformance

Candice

In my area, there are lots of options among the various brokers. Just interview with a bunch of them, and you should be able to find a good fit for you. My broker takes $25/month, $425/transaction, and they have a Help Line you can call anytime, and a good office staff. Mentoring is available; if you do this, they take 50% of your commission until they've gotten $4500 or something, I think; after that, you get 100% less the transaction fee. Fair deals are out there.

If you are going full-time and really serious about it, starting out with a 50% split with a well-regarded broker that provides excellent training and pays some of your advertising expenses may be the way to go.

I'm a newbie working eves and weekends until I switch over FT. My split is 50/50 plus a small monthly desk fee that'll probably run $500/mo. I'm the only Buyer's agent for a successful team where I get paid no matter who represents the buyer and there's tonnes of training available through the brokerage C21, so I'm hoping this is a good deal. I didn't look around at all. I really wanted to work with this team. Great people and very successful.

Your split is 50/50 and a small monthly desk fee of $500/mo!
Are you NUTS!
I pay $250 for whole office ,including heat,A/C ,electric and reception area.
YOU ARE GETTING ROBBED!
Your split should be 90/10 for that much of monthly expense !

We have a 60/40 slit, no desk fees and they pay for 1/2 of our advertsing.

50/50 and 500 a MONTH! That's nuts!

for 100% i pay 250 a month plus 195 per transaction


rofl 500 bucks a month for a 50/50. <<<<does the broker make that sound like he/she is giving you a deal?

I get 70/30, costs me about $125/month, including MLS fees.

Just take a look at the pros/cons. Also keep in mind my Name Brand companys have franchise fees. I have been a broker for two years and I opt to take a small split in return for ALL fee paid for including MLS fees, advertising cost, cards, computers,etc.. It works for me well is a slower market this ways I am not getting hit with fees month after month and I can stay on top of my game

Commission splits and fees are obviously important aspects of a real estate company to understand, but importantly, if you are really serious about building a successful real estate business, you need to be looking at which company will help you 'net' the most amount of money.

Successful real estate agents are concerned with one thing...where is the best place for them to run their business...so that they 'net' the most amount of money. It's not about what you pay a company...it's about what you get for what you pay.

Remember, a 100% of $0 is still $0. If a company does not offer you the training, education and support to teach you how to take your business to the next level...then who cares what their commission splits and fees are.

The industry is going through a real 'thinning of the herd' due to market conditions, and you better affiliate yourself with a company that focuses on training, education and technology to help their agents power through the market shift.

[i][/i]Edited by moderator removed links.

please compare apples to apples...


100% of nothing is nothing

50% of nothing is nothing as well



lest see what happens when something closes

100% of a $12,000.00 check is $12,000.00

50% of a $12,000.00 check is $6,000.00



now that we are comparing equals, what one looks better? i know that 12k will pay double what 6k will pay for.

500 is about 6 months for me with a 70/30, //100 after 2 mil gross.




I think everyone was like....what? typo? HOLY CAMOLIE!!!

It all depends on what personality type you are. Some people even with a brokers liscense who are just an associate broker at a company like the big company culture.

Me I have always been an inventor, make my own path kind of person. I don't like being controlled and like running my own ship and determining my destination in life and I can't do that in the confines of working in another company and structure.

So for me becoming a head broker and having my own company was natural for me. For others it will be like a fish out of water and won't work. Those types might be better starting a team within a company and staying there.

The great thing about real estate is it's versatile and you can take your career so many ways in this business. I get to keep all of it but also pay all of the bills.

In my opinion if a company can't give you leads and you are giving more than an 80/20 then you are losing on the deal.

LEADS is what the agents need and have trouble generating. All the signs,forms,blah,blah,blah is worthless they all offer that.

So in short if a company has a crappy split but they generate alot of new bsuiness and leads for you then it can be worth it. If it's a crappy split and your a new agent it's ok for the first few deals as you need to learn but later on you need to renegotiate the deal after a few closings or go to another company.