Hiring an assitant - Need opinions on pay structure

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I've decided to hire a friend that I use to work with at a real estate company, she is currently licensed. She just had a child and needs extra money to work from home. Her main activities would be to call on FSBOs, expireds and website leads. She would work about 6-10 hours a week making 1st follow up calls and then keeping contact using my TopProducer database so she can track all prospects and leads. Below is the payment structure i was considering.

Compensation Plan
Weekly Base Payment Based on Settlements
0-2 Sales Month = $100 per week & $500 per settlement
3 Sales Month = $200 per week & $750 per settlement
4+ Sales Month = $300 per week & $1000 per settlement
Appointments Per Month
1 -10 Appointments = $25 per
11-20 Appointments = $35 per
20+ Appointments = $50 per

Example 1 Month w/ 8 Appointments
1 Sale = $500 + $430($100wk) + $200(8appts) + $300(3listings) = $1,430
2 Sales = $1000 + $430($100wk) + $200(8appts) + $300(3listings) = $1,930
3 Sales = $2,250 + $870($200wk) + $200(8appts) + $300(3listings) = $3,620
4 Sales = $4,000 + $1,300($300wk) + $200(8appts) + $300(3 listings) = $5,800
0 Sales = $430($100wk) + $200(8appts) + $300(3listings) = $930

In determining these figures I took into account that the average sale price is $230k, normally 1 out of 3 listings taken sells and i should be able to convert 1 out of 3 listing appointment.

I really want to know from experianced team leaders what percentage of a commission to they end up keeping and how much is paid to team members/assistants, etc.... Also, if you think my figures will work in the long run or not...

Any comments & suggestions would be greatly appreciated!

Seems fair to both sides.

Friend or no friend if they don't perform you have to cut them.

Hi Vincent,
I took a look at your pay structure and like it. It's detailed and fair, IMO. I've been looking at expanding my team and have toyed around with different compensation plans-this one looks simple and fair.

I'v got a great book by Herd called "How to Become a Top Producer in 5 Years" and believe one of his case stories is about an agent who paid her assistant 10% on all closings-but this agent closed over 4 properties per month and I believe the SP was a little higher higher than 230K. A plan like that limits the team leader/broker's liability.

HTH!

Hi Vincent,

I should say that your offer is pretty fair. It all depends on the sales and how you market it.
Your listings will get more attention if you present it well. Like colored floor plans or 3d floor plans or interactive floor plan or an artistic illustration etc..
You might think this may cost to you too much. I can get these things done in less than 200 bugs. If you are interested I will help you to get these things done. I have helped a lot of agents.

Thanks,
Vineeth Nair.
svineeth(at)phiarcs.com

Hello Vincent,

It sounds pretty good, but how realistic was it? Hope you are following the thread.

Are you using some type of dialer to make 100's of calls per day? What ratio did you find with respect to calls/listing?

Also, how did the tracking go in terms of follow up? I noticed you were using TP.

In today's market, if you don't use a dialer, then the pay structure may not make sense. You have to crush through 100's of phone numbers. Any update?