Home Buying in 91302>Question Details

nocctrial, Other/Just Looking in 91302

How much (if any) commission do you give your licensed real estate assistant?

Asked by nocctrial, 91302 Wed Feb 19, 2014

If they help with open houses, showing property and doing your marketing, would you offer them a percentage of your commission on sales? If so, what would be a fair amount to offer, and would you offer a salary plus commission or only one?

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6
If the assistant is licensed I recommend paying them a percentage of the sales they help procure.
If they are not licensed, paying them an hourly wage should be sufficient. Th amount should be adjusted with their level of experience. The most important thing is to have an understanding from the the very beginning of how they will be compensated. An unhappy assistant can break your business.
1 vote Thank Flag Link Sun Feb 23, 2014
It's all about negotiation. I've seen so many varied arrangements on this subject. You can do just about anything you want to do as long as it's legal and mutually agreed on.
1 vote Thank Flag Link Fri Feb 21, 2014
I would offer flat rate for each property assuming the duties are the same. Also, if they are conducting open house on your listing they have an opportunity to get their own clients via your open house.

It really depends on their expectation when they were hired. I would talk to them about it before a the situation festers and becomes a problem.

Steve Colvin
Premier Ca Realty
1 vote Thank Flag Link Thu Feb 20, 2014
How much? Help with open houses. Marketing. These two things can be completed without a licensed real estate agent. THEY MUST KEEP THEIR MOUTH SHUT! You need to pay them from your cash flow on an hourly basis. If you think the new suggested minimum wage is adequate, read to the end. ------------ Showing a house, meaning accessing the lock box to gain access DOES require a licensed professional. -------
------- A licensed agent is able to not only open the door to the home that is for sale, but can offer observations and assess the obstacles the buyer must overcome and solutions related to the property for sale. That is what professionals do and from which appropriate compensation is expected. ------------------------ In a professional capacity, you really need to be prepared to share your compensation. Be very aware...if you do not retain those you train, they WILL be your competitor if they are treated unfairly. -----------------You really, really, really need to have a clear and concise understand regarding how your assistant will be compensated when they are the procuring cause for a purchase offer. This invariably is the source of grudges and distrust that will endure for decades. GREEDY agents tend to pile on the deduction (just like many brokers) leaving the assistant/professional feeling betrayed. Betrayal is the hardest of all conditions to overcome.....and I believe they are never solved....just managed. A competitor seeking revenge has bad outcomes.
0 votes Thank Flag Link Fri Feb 21, 2014
In most instances, if a team member does not negotiate contracts they do not get a percentage of commissions. Pay a reasonable hourly wage and perhaps offer a productivity bonus, like a flat dollar amount for open house visitors that convert to buyers or sellers.

Of course, you need to make your own arrangement with your assistant. This relationship is negotiable, as is any relationship in real estate. If they are asking for commission on the buyers they service and they bring significant value to your operation, then you need to make the decision on how much value and what percentage of that you are willing to give away.

For a full blown buyer's agent (start to finish servicing of buyers) a 50/50 split is not unusual. However, buyer's agents typically do not receive a salary. Hope this helps.
0 votes Thank Flag Link Thu Feb 20, 2014
nocctrial,
Each agent who hires an assistant has a unique arrangement with them. It has to be negotiated and agreed to by both parties. What is "fair" depends on the parties involved, how they value the work provided by the assistant and the capacity of the agent to compensate them. If you don't like your current arrangement, renegotiate of find another agent to work for.
0 votes Thank Flag Link Wed Feb 19, 2014
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