Team Splits?

[satxproperty]

(Our team is a team of 2 and we split everything 50-50.)

We, of course, get the pick of the litter. We give away picked over leads at 15-20% to our friends ... If these are leads that haven't in any way been qualified yet ...

If they are quality leads, that have in some way been qualified, then 25% or even 30% to hungry agents.

And I don't think it is taking advantage of anyone. If they think it is taking advantage, then they can get their lead somewhere else or negotiate for it.

But,... we reciprocate. If we give you a lead for 15%; if you ever have the chance to give us a lead, we expect it at 15% as well.

That's the way we do it.

Sorry, nothing I wrote should have been interpreted to be anything anywhere near dealing with consumer price fixing ... my numbers are not set as you can see they are all over the board anyway, plus I mention that we are negotiable on the referral fees.

I was only commenting about referral fees between agents. Not the commission established between the agent selling the home and the seller of the home that your referred buyer purchases.

Whew! That's getting complicated.

Enough of that, if you are busy, don't accept any referrals, if you aren't busy, take on referrals so you will be busy.

Thanks

[Matt0111]

I am considering starting a team, it will be 50/50, or maybe 60/40 in the buyers agents favor when and if they prove themselves. I will not however be picking through the leads. They will get leads for buyers up to $400,000 at first. That will be their ceiling with leads from me.

On a side note though, they will be using my yard signs, my computers, printers, etc. I will be paying for all marketing, websites and more. I will buy their custom business cards and window wrap for their auto, etc. Therefore, I will be retaining the client as a past client after the sale, no matter who works with them.

We have a team in our office that does it this way. They are very successful, and I am inclined to follow success stories. The leader, Mark Moskowitz practically owns Paradise Valley (boy would I love a peice of that market, most are over $1M and many from $7-10M), he personally earns over $1M in commission after everyone is paid!!! Let me say that again, he earns over $1M per year, he's got a different car for each day of the week, etc.

So, I will be following success. Will some agents turn their nose up at my offer? You bet, I expect that. But some will bite, seeing that 50% of something is better than 100% of nothing!

[SanDiego]

w-o-w.... thats a pretty good income there

[kkraft]

I think you may be right about the split being an "in house" type thing not being subject to anti trust. What make me very nervous is when agents use terms like "normal split" or "the going rate".

There's no such thing. EVERYthing is negotiable!

[newinrealestate]

Sorry, I think this whole thing has been blown out of proportion! I was was trying to get advice concerning picked over leads. Not what you and your broker has as a commision split , not a commision involving buyer or seller. Every office has their own individuals and different circumstances. I know how other agents in my office feel about this agent but wanted to steer clear of office drama. Thought I might I get advice outside the office. Sorry to stir up other members!

[SanDiego]

No no.. no stir up at all... I just was curious to Kristals opinion (and it's a valid one!), I don't think there is any drama here .. I just jumped off topic with the post....

cheers!
-Rus

[Matt0111]

Sorry, I think this whole thing has been blown out of proportion! I was was trying to get advice concerning picked over leads. Not what you and your broker has as a commision split , not a commision involving buyer or seller. Every office has their own individuals and different circumstances. I know how other agents in my office feel about this agent but wanted to steer clear of office drama. Thought I might I get advice outside the office. Sorry to stir up other members!

I agree, no drama, this a typical thread, I see them allthe time like this in every other forum I am a member of. Don't let anything stop you from posting your questions and posting input to other threads. These are all simply opinions, enjoy them for what they are, don't stress.

[SEO Jason]

Whats acceptable is to be thankful that the agent thought enough of you to give the leads. Last I heard the turn over rate for Realtors is pretty high.. LOL I would of been happy when I started almost 5 years ago to have leads handed to me..the key to real estate to sales after the sale.. so yeah let say you get 50% you should be more concerned about the closing the deal, following up and hopefully earning a referral. One happy client might have 10 friends that need a house..

I have never done real estate sales before, I have however done car sales. I expect both are the same in that the follow up is the most important part of the sales process. I sold more cars from leads from previous customers then i did from cold calling, walk ons, or the internet combined. Someone that is sent to you by a friend is more likely to buy from you then someone who wasn't. I use to always do a three day after call, one month after call, three mos. after, 6 mos. after, 1 year after, year and a half. You have to create reasons to call your customers constantly, to keep in touch, because you never know when there thinking of buying again, or there kids are, or maybe it's there neighbors or friends. I had this one customer who i genuinely disliked, and did not want to deal with, he was not a very nice person the entire time. However i made every single one of my follow up calls to him, and i must have gotten 10-15 sales from him. Every person he heard talking about getting a car, even if it was a stranger, he told to come see me. Anyways, once again i'm off topic i think.

P.S. Interesting side note. My dad still uses the same realtor that found him his apartment for him when he first moved to the city 23 years ago. In that time span he's moved through about 10 different houses.