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Asked by Niki Fiala, Clearwater, FL Wed Mar 12, 2008

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6
Niki Fiala, Agent, Clearwater, FL
Thu Mar 13, 2008
Thank you so much Everyone. I just joined this website yesterday. And I am amazed at all the support I am getting from all of you and the positive attitudes!

I have the Millionaire Real Estate Agent, just never had time to read it. That is why I have to hire somebody immediately :-) I am yet to figure out how I can start taking some days off ...

When other companies tried to headhunt me away from my broker, I got offered the 50/50 split and I thought it was outrageously low. But now that I am on the other side of the table, I really have to consider what it is going to cost me to supply computers, phones, assistants, transaction manager, etc. to any additional agents. Right now I am set up in a home office, but that could change with time.

I would like to run centralized marketing campaigns, mail-outs, newsletter, etc. I WOULD want them to enjoy all these benefits, so they can be out selling.

I really believe in a progressive pay system or a bonus system where good statistics are rewarded and I feel like I would like people on my team to make good money. So I will start running some scenarios with all these ideas you have all supplied to me.

Thanks again.
0 votes
J.D. "Dan" &…, Agent, Orange Park, FL
Thu Mar 13, 2008
I use a progressive split policy based on production. I also have minumum production requirements since non-productive team members cost real money - JD
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Jackie O'Con…, , Boston, MA
Thu Mar 13, 2008
I am a buyer agent on a team and we are paid 40/60 split, no higher for friends and family, and 50/50 on our in house listings. I would much prefer 50/50 across the board. The keller Williams Mega agent suggested split is 50/50. However, we do have a closing agent who handles the transaction from u/c to close, which frees up a lot of our time and energy.
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Joshua Jarvis, Agent, Duluth, GA
Thu Mar 13, 2008
Sounds like you're on your way to becoming a 7th Level agent. I would get the Millionaire Real Estate Agent if you are looking for structure ideas. As for the buyer's agent, I agree, 50/50 would be the generic answer. You're the rain maker and you do all the real work, the buyer's agent job is to close the deal. If you have your assistant help the buyer's agent in terms of presentations, thank you cards...ect, you could even split more.

Be careful of veterans, old dogs don't always want to learn new tricks.
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Missy Caulk, Agent, Saline, MI
Thu Mar 13, 2008
I do 50/50 with my team, up to 6 closings from my leads, then 60/40 until the end of the year. Anything they bring in is 70/30. I'm probably too generous, but I don't have much turnover.
0 votes
Steve Martin, Agent, Atlanta, GA
Wed Mar 12, 2008
Niki,

You are going to want to develop your pay strategy well beyond this initial agent hire so that your plan will be able to fill out completely over time. I led a group of 15 with 5 admin people - nearly all the agents were subdivision agents who were on a 50/50 split with the team and 60/40 on friends & family. Give me a call if you would like to talk more about how to set it up, agent agreements, etc
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