Investor · Canton-Akron, OH · Member since 2012 · 917 posts · 477 votes
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?
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
11y
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.
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
11y
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. :)