Real Estate agents and Brokers
I work in real estate. Only get paid by commission. I just recently got my license and an agent I already knew, asked me to join her team. (Basically, she works as the lead agent and has agents working under her. She gets a percentage of all their sales). I thought it would be a great way to get started. But here’s the thing… The contract with her states that if she gives me a sale that I work she gets 50% of the commission. If I bring in a sale she gets 49% of the commission. Which I feel is just a joke. She said she’s paying for marketing and helping me get through the process so that’s why she gets so much. So, I said well yes, right now you may be helping me, but down the road I would need less help. So, would you consider taking less commission in the future. She said no.
Anyone work in real estate know if this is correct? Do many real estate group leads take such a high percentage? I know she can set the terms to whatever she wants, but I’ve talked with two agents from different real estate firms and they have said this is crazy stupid. Would really like to hear from brokers and real estate agents and see what they think.