Thread: Flat Rate vs. broker split

I have been in the buisness for about a year. I am currently on a 50 50 split with my broker. I was told by a friend that it's possible to give some brokers a flat fee per month instead.

Is this common? Do franchises like Coldwell Banker ect... ever offer this?

Thanks,

Shop around. Unless you are getting tons of leads from the brokers efforts and closing a large portion of them, you need to move on.

Step 1 Interview the broker as if you were hiring them, since you are!
Step 2 Read the Independant Contractors Agreement carefully

Step 3 Get your brokers license

Originally Posted by Josh Louis

I have been in the buisness for about a year. I am currently on a 50 50 split with my broker. I was told by a friend that it's possible to give some brokers a flat fee per month instead.

Is this common? Do franchises like Coldwell Banker ect... ever offer this?

Thanks,

Hey Josh,

Yes you can pay a broker a flat fee per month for a much higher split. RE/MAX is one of the companies that offers this type of program. I use to work at Prudential with a split similar to yours. I decided I would do better off with the higher split because I had a steady stream of business. I moved to RE/MAX where I have been for the last five years. Most established agents either nogotiate a better split or move on to one of the 100% companies. And, by the way, 100% companies don't all pay 100% some pay 90% or 95%. REbuyersgroup gave you some great advice about reading the ICA. It's the contract between you and your broker. Make sure this agreement works for you and allows for your growth. You don't want have to move again. Lack of stability does your business no good, so be sure to get it right when and if you decide to move.

Best of luck,