Part of commission in return for help?

Question

I'm a fairly newly-licensed RE agent & I'm almost ready to put my first rehab back on the market. This would be my first listing, so I'd like to enlist the help of a fellow, more experienced agent at my brokerage who's been kind of a mentor to me, to walk me through a smooth selling/closing process.

I'd like to offer her part of my commission in return for her help; what would be an acceptable percentage in a case like this? Thanks!

Vonetta Booker · Answer

Thanks for everyone's input! I'm going to seek out the advice of my broker on this first big listing.  :-)

Michael Noto · Answer

As a fellow agent in Connecticut, I would say with the way brokerages are structured here that your questions would be best answered by your broker.

You are giving them a cut of your commission for several reasons and them being there to answer questions, especially from beginning agents, is a big part of their role as broker.

Joel Owens · Answer

Vonetta if it truly is just  a few questions then likely the broker/agent will not mind. Experience says it will be more than a few questions that are asked.

The managing broker is getting paid or should be by the principal broker who owns the company to be there for the agents answering questions. That is what the split to the brokerage should be helping pay for is ancillary services to their agents.

TIME is a valuable commodity and people under estimate the costs. You can't help the world for free while trying to run a profitable business. People need to be paid for their time.

Derek Jones · Answer

I'd recommend having your broker help and answer your questions for free.  At a previous brokerage that I was at they had a mentor program where they had a agent mentor to help new agents with their first 4 transactions and they took a  25% cut.

Vonetta Booker · Answer

No, not really, Mark. I've just had more interaction with her, plus it's a large brokerage & they've got a new managing broker there that I don't know all that well--but true, I could go to either one.  I do like your idea of the gift card. :-)

Mark Gallagher · Answer

@Vonetta Booker

Is there a reason you want to ask this agent instead of your managing broker? I would also personally help someone out for free, but perhaps if you turn a good profit, and this person is helpful, you get them a nice gift card upon completion of the sale as a friendly gesture.

Vonetta Booker · Answer

Thanks for everyone's quick replies. @Rob Beland, she's always been helpful & has never expected any "cut," but I wasn't sure if at some point I should offer something, especially since I'll probably have lots of questions through the process.  @Mark Gallagher, I'd just be asking advice when needed--I'll be handling the rest.

Richard C. · Answer

It is your broker who should be walking you through your first closing.

Mark Gallagher · Answer

@Vonetta Booker

Need a little more info.. are you looking to just ask for advice when needed or to input the listing, and take phone calls on the listing?

Rob Beland · Answer

Im a licensed agent and if I was in your brokerage I would help you for free. Do you have any sort of a personal relationship w any agents in your office? If you sell your own property will you have to pay your broker? Im with a very small private brokerage. Im one of two agents plus the broker and we are both part time. Bigger companies may have different policies.