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Have any of you built your own teams? I work with a boutique brokerage and I'm looking for some ideas on building a team. Great brokerage, however, a lot of the stuff we have to setup a lot of stuff on our own. It's been a slow go, but I have the site up, MLS datafeeds up, CRM and CMS systems being put together as well as I started to hire a company who is helping me farm potential clients in my areas. My broker suggested I build up a team as there will a good amount of leads coming in where a one person realtor may have some issues handling on their own. I've been in the real estate industry for well over a decade. I have some of my team members from property management taking the courses and tests so they are licenses real estate agents. However, I do need to link up with other agents to help and join the team.
In our market, every Broker and their Dog is recruiting experienced agents because almost any entry agent is almost doomed to fail. New agents can't make a living competing with 20-30 other Buyer offers for a home and they seldom get a listing.
Tough time to be a Broker or a new Agent around here.
In our market, every Broker and their Dog is recruiting experienced agents because almost any entry agent is almost doomed to fail. New agents can't make a living competing with 20-30 other Buyer offers for a home and they seldom get a listing.
Tough time to be a Broker or a new Agent around here.
Would beg to differ. Already have two listings live.
I would be interested to hear how teams split the pay. Do team members get equal split (after the rainmaker) of all production or do they only share in deals that they personally work on?
I would be interested to hear how teams split the pay. Do team members get equal split (after the rainmaker) of all production or do they only share in deals that they personally work on?
Depends on the agreement setup. Usually the team leader provides the leads and guidance, and splits a piece of the commission with the agent. The split is negotiable.
Depends on the agreement setup. Usually the team leader provides the leads and guidance, and splits a piece of the commission with the agent. The split is negotiable.
What is typical for an arrangement like you're describing? I've never gotten a good answer about this. Do team members make more than they would as an independent agent?
In a deal paying $20,000 gross commission that a team member took from lead to closing how much would you expect that team member to take home if they were on the team you're hoping to build? Would they share with other team members who didn't work on that particular deal? I am clueless but very curious.
Read the Millionaire Real Estate Agent. It's all about leverage. You may want to consider looking at KW for expansion and leverage training if they are in your area.
I would be interested to hear how teams split the pay. Do team members get equal split (after the rainmaker) of all production or do they only share in deals that they personally work on?
Splits and structure will vary, but I've never heard of a team paying all agents a cut of production. Usually the team member gets paid only on their deals. It frankly wouldn't be fair to split all monies because some agents work harder and do better. Otherwise you'd just have leaches doing enough to get buy and siphoning income from the producing agents.
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