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#234037 - 06/22/08 07:46 AM Re: how did you decide which broker/agent commission plan to use? [Re: OHAgent]
zephyr Offline
Major Contributor

Registered: 08/10/05
Posts: 1662
Loc: Missouri
As far as BPOs go, in Missouri, ALL money received for real estate activities has to go to the broker, then be pauid to the agents. BPOs require a license, so they ARE a real estate activity. I will keep $5 of every BPO my agents do for administartive costs...
Most brokers here sytart everybody at 50/50 and most I have talked to give a raise after $1million in sales. I am looking at starting brand new agents at 60/40 with raises more often. Still ironing out the details, but think it will help agents feel like they are worth more to me and the compnay if they make more money more regularly. Retention of good agents is more important than big profits to me. I will cap them out at 90/10.
They will have to pay their own Realtor fees, CE, licensing fees, and any specialized advertising or signage (eg:name riders),an a small monthly fee towards E&O ($10-&20 per agent), but no desk fees, tech fees, phone bills, etc. I think, once I get an agent or two on the plan, they will talk and I will get several working for me.
I hope so, anyway!
_________________________
REO Broker since 2004

"And think not you can guide the course of Love, for Love, if it finds you worthy, will guide your course" K.Gibran

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#236454 - 07/06/08 02:21 PM Re: how did you decide which broker/agent commission plan to use? [Re: OHAgent]
REOGranny Offline
Member

Registered: 07/03/08
Posts: 57
Loc: Wisconsin
I only have two agents; part of my team. They each make 50/50; but I supply all leads. No phone time, no fees for: MLS, E&O, Signs, or desks. I refer out on an average 8 buyers a day to each agent and some days more. If they get their own business its a 60/40 split to them. I'm a heavy hitting REO Listing Broker and am not looking for any other REO listing agent, would take on a good retail listing agent preferrably a Broker to head up retail.

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#239493 - 07/22/08 03:55 PM Re: how did you decide which broker/agent commission plan to use? [Re: REOGranny]
Greg Phillips Offline
Mortgage Professional
Veteran Member

Registered: 01/26/05
Posts: 1372
Loc: Lancaster, Ohio
Spam... Guy is likely getting compensated for signing people up. Spamed all over board. "id=wallmann"
_________________________

"Closing Mortgages Since 1999"
Web: Mortgage Loans Message Board Blog

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#248157 - 09/05/08 06:30 PM Re: how did you decide which broker/agent commission plan to use? [Re: OHAgent]
Mr. Lincoln Offline
Junior Member

Registered: 12/27/07
Posts: 7
Loc: Ca
How do you find out about california? Don't the agents fill out w9s and then get 1099s from the BPO company?

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#252955 - 10/02/08 07:00 AM Re: how did you decide which broker/agent commission plan to use? [Re: Mr. Lincoln]
Focus Offline
Member

Registered: 03/05/07
Posts: 147
Loc: USA
I never recruit but have 3 agents. One asked me to colist s few properties with her. We just closed one and she called me about the commission. I kept the buyer's side commission. I replied we split the listing and I have the buyer. I dealt totally with the buyer. She is on a 90/10 split. I want to be fair. Should we split the buyer's side?

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#252958 - 10/02/08 07:17 AM Re: how did you decide which broker/agent commission plan to use? [Re: Focus]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 4725
Loc: Vermont's North-East Kingdom
Originally Posted By: Focus
I want to be fair. Should we split the buyer's side?

Nope . . . . Unless you had her do all of the Hand-Holding through the Mortgage and Closing Process as a Training Activity; but your scenario indicates that she did not participate so the answer remains . . . . Nope!
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#253077 - 10/02/08 05:21 PM Re: how did you decide which broker/agent commission plan to use? [Re: Vermont]
Focus Offline
Member

Registered: 03/05/07
Posts: 147
Loc: USA
Thanks Vermont007. I agree but I decided to go ahead and pay the agent anyway - be the bigger person. The funny thing is she contradicted herself. There was a repair that the buyer wanted done (seller wouldn't pay) or there would not be a closing. At this juncture my agent offered to "chip something in" but never offered to split the cost then.
The good thing is I found out where she is now. I have done a lot of extras for her but will not do the next thing I was planning for her. Her loss.

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#253084 - 10/02/08 06:23 PM Re: how did you decide which broker/agent commission plan to use? [Re: Focus]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 4725
Loc: Vermont's North-East Kingdom
There'd be more Training Value if the Buyer's Side was going elsewhere into a Cooperating Agency's Pocket. People seem to have difficulty visializing the different pieces of the Pie when it's staying in house.

If you have three Agents, then it becomes critical to maintain a consistent Policy. It's amazing how the Human Mind can make instantaneous complex calculations on how one commission split differs by fractions of a dollar from another. I know, because I pushed those numbers endlessly myself . . . . as if calculatng it one more time would make it come out bigger.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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