Investor · Tampa, FL · Member since 2016 · 51 posts · 13 votes
Studying for the FL Real Estate exam now and I'm planning ahead in identifying the right broker to partner with. I plan to buy and hold rental properties for my own company (part-time venture) and would like to find a broker that is flexible with commission splits. Looking for minimal support (no leads, etc), but maybe on the administrative side with closing. I've reached out to a few local brokers and commission splits/fee structure seems to be all of the map. Also, it seems like some brokers are familiar with this relationship and others have never done this before.
Any insight would be appreciated.
Will
Agent / Investor · Clearwater, FL · Member since 2014 · 573 posts · 281 votes
9y
I have to completely disagree with Christopher. KW is probably the worst choice for what you want to accomplish. KW wants to hire full time realtors, not investors. Their splits are something close to 65/35, in exchange for all of the training they give you to become a full time realtor.
I heard nothing saying you want to be a realtor. You want to find a broker that charges you a flat fee per transaction. There are brokers that exist that charge you a few hundred dollars to list a property or collect a commission, and not charge you such a steep commission split.
Real Estate Agent · Garden City, NY · Member since 2016 · 3k+ posts · 1k+ votes
9y
I would go with a Keller Williams office in your area. Minimal support, but you can always get help where you need it. There are multiple ones in your Tampa area.
Agent / Investor · Clearwater, FL · Member since 2014 · 573 posts · 281 votes
9y
I have to completely disagree with Christopher. KW is probably the worst choice for what you want to accomplish. KW wants to hire full time realtors, not investors. Their splits are something close to 65/35, in exchange for all of the training they give you to become a full time realtor.
I heard nothing saying you want to be a realtor. You want to find a broker that charges you a flat fee per transaction. There are brokers that exist that charge you a few hundred dollars to list a property or collect a commission, and not charge you such a steep commission split.
Investor · Tampa, FL · Member since 2016 · 26 posts · 6 votes
9y
Will:
I have a guy that may work well for you. He is a new start up and giving great commission splits. He is part of a virtual office so you can work out of your home, or use his conference rooms if you need. I'll send you a seperate email.
Real Estate Agent · Garden City, NY · Member since 2016 · 3k+ posts · 1k+ votes
9y
@Brandon M. You're not correct about the commission splits. Each market center collects a certain amount that comes back as profit share. That amount is capped in each market center. After the cap, transactions go 100%. And you still get access to the training and use of the KW resources.
There are several pure investors in my market center.
KW never interferes with its members. You can choose how you want to run your business.
Investor · Tampa, FL · Member since 2016 · 51 posts · 13 votes
9y
Brandon M. Right, I have no desire in becoming a full time agent. I'm getting the license for other reasons - education, MLS access, networking, save money, etc. for my investment properties.
And yes, ideally I'm looking for a flat fee per transaction with support on closing day. I got an estimate from one of the largest chains for ~$450+ monthly fees (national/regional/local franchise fees) plus 75/25 commission split. Obviously this is not what I'm looking for. Maybe I'll focus on a smaller, local brokerage.
Real Estate Agent · tampa, Florida (FL) · Member since 2013 · 206 posts · 96 votes
9y
I'm an investor/agent with the exact set up that you mentioned in your OP by my broker. I got 100% commission on leads that I bring in, broker only takes a cut when they supply a lead. they provide a website/crm if you want it for like $150 a month and if not you only pay a $50 a month fee for admin stuff and office use etc. shoot me a PM if you would like more info.
Real Estate Agent · Garden City, NY · Member since 2016 · 3k+ posts · 1k+ votes
9y
Completely outside of KW. Many investors in my area will have licenses. Ultimately, it puts you in a position to be able to access the MLS, purchase property, and sell your own deals.
Many investors are active members of the local LIBOR.
Regardless of where you end up, you want to make sure you are getting what you need to support your efforts until you can hang your own license as a broker.