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.