How are you getting paid for BPO's, do they send payment under your brokerage or under your name? I know an agent that gets paid directly but I always thought payments need to come directly under your brokerage's name. I asked my broker and she wants the checks to come to the brokerage name.

I think it may be a split. If your brokerage gets in the habit of receiving multiple checks from multiple companies for multiple agents they may be very sorry they made that decision.My broker does not care to deal with the book keeping headache for the measly piece he would get. You probable did the right thing by asking.

Depends on state law, and if it is legal for agents to receive real estate related funds directly in your state, then it depends on what the broker wants.

There are past threads on this.

zpcsc:

Your profile lists that you are in Florida, therefore under FREC (Florida Real Estate Commission) you are required by law to have all income via real estate related activites to go through your broker. This does not only mean BPOs, but other possible sources of real estate income like property management activites.

I personally have all my checks go dircetly to my broker, who has an outstanding bookeepper. I am on a 90/10 BPO split, which I think is fair. I live about 40 miles from my office (long story), so all my distrubtion checks are mailed to me as I am never at the office.

So I would listen to your broker and work out a split that is fair and reasonable regarding BPOs. Best of luck!!

Thanks, I was pretty sure that is how it is done but I was curious.

As a Rule of Thumb, if you are performing any Real Estate related activity where you might want to be covered by your Broker's E&O, then you want the Broker to know about it, and you should actually want to be paid for that activity "thru" the Broker.