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John McCormack
  • Delray Beach, FL
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Does RE agent Commission split apply when renting out VR's?

John McCormack
  • Delray Beach, FL
Posted Sep 10 2016, 12:54

Ok, so here's my question...but first a little background. I'm a newly licensed RE sales associate. We currently run our own VR and 2 long term rentals with intent of turning duplex we're in now into a VR as well. I obtained the license specifically because it was required to manage short-term/VR properties for third parties as you would be accepting a commission/percentage of booking income. Obviously, I would need to work for a broker and all funds payable would have to funnel through them.  However, I've been to a few brokerages and have some mixed answer in regards to:

- will broker take a commission split on this side business if they don't even handle property management? (some have said they aren't interested in that, some are)

- would be doing 100% of the work to bring on homeowners into the program. most brokers said that whoever I bring on is mine whoever they feed me (sales) leads are theirs

- 2 firms said they are only interested in commissions on properties I sell or buy for others not this property managment aspect I'd be bringing with me

I guess I'd like to know if anyone is in a similar situation as me and how you're handling commission splits with your broker in regards to short-term property management?

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