My brokerage is Keller Williams, when I signed up, I was told the split was 70/30 later to find out about a 6% royalty fee. I was told by the broker/owner partner that there was a mentoring program that would not cost me anything and my mentor would receive 20% paid by the company for my first three closings. My 1st couple of closings were leases, so they didnt count those. My 1st sale everything went as stated, my 2nd sell they forgot to pay my mentor. The Broker/owner has moved to another state and we have a new "Team Leader". She is now saying that I am responsible for paying my mentor 20% for my next two sells, and I don't feel this is right because this is not what I was told.

How would you feel?

Hi Real Ram,

I am happy with KW, but am not on the cheering squad nor buy everything that they say or sell. With that said, you probably already know that any business agreements should be written and signed by all parties, exactly for the reason that you described.

Also remember that your market center will likely offer optional products and services for a fee (including training systems, conferences, mentoring programs, etc.) regularly. As a small business owner, you have the right to decline without any concern for retribution.

Hope that helps.

Do you have it in writing? This is the first hard lesson in real estate. If it's not in writing signed by all parties, then it does not exist.

I am very spoiled because my brokerage offers very good FREE training to us. The broker and his partner feel it is their duty to train us to be successful; they (smartly) figure that a well trained agent will bring more money to their office in the long run.

Please remember too that KW is an independent franchise so how one office is run may not be the same as another office. At least that is my understanding - and that will be true of ALL franchises like C21, Coldwell Banker, Weichert, RE/MAX, etc.

Thanks Perky and Greene, I guess this is a lesson I will have to learn from.

state law usually requires that the broker have a written compensation agreement with all employed agents. you should have one and you should know what you signed.