I think that it sure is short sighted for the broker to take anything out of BPO's as they bring in listings of you also do REO's. I get more than 30 listings a year from my bpo work. That's where the broker can make his money - Gigem.

I could not agree with you more Gigem.

Anyone in a franchise office? My broker sends the 6% franchise fee to the company from the Bpo checks before writing out my check. Anyone one else in a franchine having this happen?

When my co went with Prudential, they did send the franchise fee to them to cover themselves while questioning the issue. They talked with the powers that be, and don't need to send the franchise fee to them for BPOs.

It only took a week or so to figure it out, just locating the correct person to speak with took the time.

What position/title was the decision maker at Prudential, maybe I can direct my broker and keep more money. Thank you

Wow, I couldn't tell you who it was. I think what happened was one of the girls that worked with the transition talked w/the transition guy, who called someone, that called someone else kind of a thing.

Thank you for the reply. Something to discuss with my broker.

I'm in a franchise. I keep 100% of the BPO money, no franchise fees.

I'm looking into changing brokers right now. My current broker is taking 30% from my BPO's so this is an important issue for me when deciding on a new broker.

Would any of you that are getting more than a 90% split on your BPO's share which company you are with?

I am in a Crye*Leike franchise office and the broker was told she has to send the 6% franchise fee to corp. She chooses to not to take any of the money from BPO's except what corp. requires of her. I think the split is a brokers choice. So when interviewing brokers and deciding where YOU want to be, ask the question about how they treat BPO's. It is the only way you can make an informed decision. Good Luck!

My broker is required to send a 6% franchise fee out of everything, even BPO's. She keeps nothing for herself. She make her money when we get the REO listings. In TN everything is suppose to go through the broker. Check to see if your local board has an attorney to help. Good Luck!

I'm the broker/owner of my office. The office takes a flat 7.00 on each BPO. I don't feel that is unreasonable at all. Especially since I find all the BPO work for the agents, not one of them has ever brought a company to the office. I've done all that. I keep track of what is paid and is not, I make the phone calls to get the payments, I write the checks, and I pay for those checks. No one has ever complained to me and believe me they would if they felt I was being unfair. I would look at it differently if the agents were out there drumming up new BPO's or new REO's. But they don't. I personally do not make any money off the BPO's completed by any of the agents. I've always kept this money in a BPO account and used the office portion for "special advertising" that the office would not normally have done.

And in KY, all monies have to flow through the broker, no matter where it originates from.

I am on a 50/50 split on BPO's (but I plan to talk to the Principal Broker after the 1st of the year to get that adjusted).

I need to find out about Virginia and using the SSN vs the EIN - I thought only commissions had to be paid through the broker. Maybe I am wrong. I need to look at the Real Estate "rule book"...

Yeah, I am in a Franchise, too - there goes another 6%!

50/50 on BPOs sucks. I'm sorry, but it does. I went through that, when I first started doing them. At the end of the year, when everything was said & done, I almost fell off my chair when I saw how much cash went to my broker. Even this year, I renegotiated with the co, but still, they made a ton of bucks off me, for not doing a thing but writing the checks. I know for a fact their cut of my BPO money was more than what some agents brought in for closed deals all year. Now I'm in the process of switching brokers (what a PIA that's turning out to be) and will get to keep it all.

I'm my own broker in my office of one but I think your $7 cut sounds fair.