Pay structure for an Agents who work on a team ?

Question

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?

Bill Gulley · Answer

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. :)

Dell Schlabach · Answer

Bill Gulley

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

Wayne Brooks · Answer

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.