On average, what can I plan on paying a real estate agent who would work for me ( as the broker)?

Question

I have a tax office that pays the rent and gives me a small profit toward living expences but not really enough. I am thinking of opening a real estate business (I would get a boker's licence) out of the same office. I am trying to determine if this would be worth my while. The big problem I have is I do not know what to expect to pay the agents who would be working for me. I live in Southern California. I know nothing is set in stone on this issue, but what should I figure on paying?

Answer 1

well 50% percent if you have to do most of the work. Since it sounds like you have no hands on, prob more like 70-80%. Otherwise they will skip right by

Answer 2

first off, i'd like to know how you plan on getting a broker's license without first having "served your time" as a real estate agent. here in michigan, we have to have so many years and $$ of sales before we can even APPLY for a broker's license, let alone be granted one. as to what you would pay your agents, it should be a fair split of the commission. my broker takes 33% if it's an in-house sale and 66% if it's not one of our listings. i only have to pay MLS fees and realtor association fees, but nothing for phone usage or copying or faxes or computer access. there are a number of ways you could go on this one.

Answer 3

You don't want to be a supervisory broker without knowing the busiess. You need several years experience, at least, in order to offer adequate supervision. Since the supervisory broker is responsible for everything that goes on in the office, this is not something that someone without experience in the business should do.

As for what to pay, it's very much dependent upon the operation, what you're giving them, what they're giving you, etcetera.

Answer 4

In New York State, Real Estate Agents, are commission only.

Answer 5

On the average.6% of the proceeds of sale .....