When you upgraded to a broker license and became a broker associate, did your employing broker automatically increase your fee split?
- No. (63%, 39 Votes)
- No, but I relocated to a new brokerage that provided me a higher fee split. (16%, 10 Votes)
- Yes. (13%, 8 Votes)
- No, but I was able to negotiate a higher fee split. (8%, 5 Votes)
Total Voters: 62
I thought it was interesting that 38% of the respondents ultimately received a higher commission split. I ran some numbers: if the average sale is $500,000 and the broker split was 3% ($15,000). Then a 10% increase in a commission split might give the new broker associate an extra $1,500! Not bad considering the classes only cost about $250 and the additional knowledge would probably be useful anyway. Thanks for raising the question.
Your broker doesn’t care if you have an agent or a broker license when negotiating the splits. You will have the same split regardless… It is good for the agent because being an Associated Broker is better that any designation when she/he introduce himself or herself to a potential client.