Share my commission with mentor. Is this standard?

**BettyD** · 04-30-2010, 08:28 PM

I just passed my licensing exam and have begun to interview with brokers. Most of them have mentioned they have a mentoring program, but it didn't occur to me until my most recent interview to ask "why would a seasoned agent mentor me" and I was surprised by the answer. This broker explained that the mentor would get 75% of my first commission, 50% of my second commission and 25% of my third commission. Is this typical in the industry?

I asked if every new agent needed a mentor and he basically said that there is no way a new agent could succeed without one. He said in his office there is no one to teach you how to use anything from the phone system to the MLS, or fill out forms, etc. and the mentor does all of that.

I'm in Northern Virginia and hope that someone can tell me if this is standard in the business? And, if anyone has suggestions on what other things I should be asking about please let me know.

Thanks in advance for any responses to this.

**Bones** · 05-03-2010, 08:46 AM

It definitely helps to have a mentor. When I started in the business I paid 100 dollars a month for 10 months as a training fee. I believe my mentor got part of this.

**seeeker** · 05-03-2010, 10:04 PM

Ok I'm also a new agent, and trying to get started on my own has been excruciatingly difficult, so I'm looking at having a formal mentor. But a few comments from your post really stood out as red flags.

1) 75, 50, and 25% of your commissions seems ludicrous. Granted, you might need your hand held (sometimes I do) but you will still be doing the work and being responsible for the outcome, and that just seems like being taken advantage of. However, with your long term career in mind, perhaps doing your first few deals for essentially very little compensation, maybe it's worth it.

The agent I am talking to about mentoring is someone I have been friendly with for months, she's really cool, and has been very helpful just answering my questions on how things work. If she mentors me she now wants 10% of my first ten deals, and I thought that was a lot. You might need to go to them for help, but you might not all the time. Are they going to help you get the leads? Are they going to give you a surefire way to handle things?

Consider mentoring with an older agent who is not hustling quite as much, they will probably have more time for a newbie.

2)

He said in his office there is no one to teach you how to use anything from the phone system to the MLS, or fill out forms, etc. and the mentor does all of that.

For God sakes someone should just show you how to do this. I don't know what kind of office you are interviewing with, but of they can't even show you how to get around the office and fill out the State approved contracts, this sounds like an awful place to be.

I don't think having a mentor is absolutely required, but depending on where you're coming from, it might really be a good way. You need someone to show you the business, and how to manage deals and people. This is the golden nugget - actually managing the deal and the client thoroughly and positively. So a mentor might be worth it. But don't obligate to pay someone an excessive amount of money if there's a chance you won't need them fully.

**WHB Solutions** · 05-05-2010, 09:24 AM

Having a good mentor to help you start in this business is crucial. However, the commission-based fee is a bit unusual. However, it really depends on your contract with you mentor whether he gets paid per time spent or commission-based.

**Commercial Agent** · 05-05-2010, 11:12 AM

A mentor is the best way to learn the business. Shop around for what they charge and let them sell you on the idea. You'll know when you find the right one.

Good Luck

**SellPropertyFast** · 05-05-2010, 12:10 PM

I think depends on the agreement with your mentor, having good mentor is a plus factor for your success in business.

**maui** · 05-06-2010, 02:18 AM

Those figures seem remarkably high and I don't think that I would agree to those under most circumstances. By the way, would you be getting the leads from your mentor or is that commission 'fee' also paid on your own leads?

**WHB Solutions** · 05-06-2010, 07:49 AM

Indeed. The values stated in the first post is way too high...

**applymedia** · 05-08-2010, 08:36 PM

Hi,
That is way to much.
plee for another deal

**mWoods** · 05-21-2010, 08:46 AM

Yes, a mentor is a necessity to get you started off on the right foot. You have to realize that you will run into situations that do require the knowledge of a seasoned agent and that their time is valuable as is yours. You may pay them 75% of your first transaction which may seem like a lot right now but consider it an investment into your career.