Summary of "How Do You Split Commissions On A Real Estate Team"
The video discusses how to split commissions on a Real estate team in a way that is profitable for both the team leader and team members. The presenter, Verl Workman, emphasizes the importance of creating a Compensation model that allows team members to be successful while also ensuring profitability for the team leader. The main points covered include:
- Building a Compensation model that allows for profitability and success for team members
- Hiring a Client care coordinator as the first team member
- Compensating client care coordinators based on transactions or hourly pay
- Structuring compensation for Buyer's agents with a 40-60 split for the first two transactions and increasing percentages for subsequent deals
- Emphasizing the importance of focusing on the amount of money team members take home rather than the split percentage
- Providing an example of how an agent can make $100,000 a year on a 40-60 split
- Paying Listing partners between 25-35% due to the additional costs associated with listings
- Emphasizing the need to explain the compensation program during the interview process and providing a Buyer agency agreement template for clarity
Presenters
Category
Business and Finance
