We are doing some restructuring for 2015. 

Couple questions  ...

1. Realtors with a team, can an an individual Realtor, who has a more properties then he can handle himself, hire a Realtor to work for him exclusively, for a profit split, or a wage and commission structure, I see many of the top agents have teams, wondering what that setup and pay structure typically looks like. 

Does the agent with a team, doing the "hiring" need to be a broker?

Typically, the team "leader" picks new agents for his "team".  When an agent joins the team, the team leader gets a piece of their commission.  As in: a producing agent may be on a 80% split with their broker.  A new agent may join the "team" at a 50-60% split, with the team leader getting the difference between that and his 80%, and the new agent may get spoon fed some business, and learns the real business.

Agents working together must be under the same broker, unless the brokers agree to the splits between agents. Agents may have a "team" but generally those folks are administrative, as I pointed out in your other post on this topic. It takes a broker to hire or employ an agent, they may be a managing broker working under a owner/broker of the real estate company.

Again, the best thing if you're trying to save on commissions is to get your broker's license. :) 

@Bill Gulley  

Thank You for the clarification,  I appreciate it, somehow I had missed the updates in this thread.