I am a real estate agent in Bergen County. I predominately work in listing my own properties, as I am also a developer, as well as a group of investors. I am at a moment in my career that I am evaluating whether to leave my brokerage for a better long term one or negotiate a better split.
I am currently at Coldwell Banker. I have a gnenerous split . At my current situation I only have the Franchise Fee of 6%. I dont have any desk fees or any other fees.
I have produced listings that range from 300K-1,999,999 over my last three years with Coldwell. As the years go by I increase my listings a year by 1-2.
If anyone could give me advice on what is the best way to make a decision where I wont regret leaving Coldwell I would greatly appreciate it
There is a 100% commission brokerage called United Real Estate. They have an office in Fair Lawn and a new one coming in Ramsey. I believe they just charge you per transaction. Many of the agents I see going there, aren't well established agents and I wonder myself about the business model sustainability.
Keller Williams has a 70/30 split. You pay a 6% royalty until you cap on that. I believe you cap at around $3000, then its a full 70%. Once you hit a sales volume of around $4.9 million (don't know if you are selling that much, you get a 100%. You pay $30 monthly for E&O insurance and $35 for a technology fee. They offer profit sharing if you recruit other agents and they produce and the office is profitable that month.
I left KW and I am at RE/MAX. They have different commission split options that come with various desk fees. They have 70/30, 80/20, & 94/6 split options. I would only recommend RE/MAX if you are doing a decent amount of volume.
Hope this helps.
Hey Kevin! Thanks for the information !my volume is about 5M Is that sufficient for Remax?
Each office is independantly owned and operated. So you would have to check with the specific offices in your area. We currently have a 70/30 and a 95/5. Some offices have 10 different split options. If you are on a 94/6 with no fees, it sounds like a pretty solid gig to me, but each area is different.
Good Luck in finding the right fit!
@David Michael $5 million works for RE/MAX! There is a newer RE/MAX office in your town of Closter. I work out of the one in Westwood.
I am not an agent, I do the marketing and admin for Realty Executives in Bellevue, WA. I have to say the agents here make 100% with no franchise fees and only a small per transaction fee, and make more money per transaction than any other franchise I am familiar with.
I spent over 20 years doing real estate websites, and am semi-retired now. I have worked with hundreds of agents in every major franchise, and lots of boutique agencies. I've never seen a simpler, cleaner low cost fee structure any where.
I don't know if the Realty Executive franchises there have the same deal, but I suggest you check it out.
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