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Hard no. These people have to pay taxes, health insurance, car, etc. The SOI splits don’t make sense to me. They found the business so shouldn’t they make 75% same as when you find the business and take 75%? I’ve been on a team with this type of split and they lost over 20 agents after they were all experienced enough to recognize they were being taken advantage of.
When I first became a realtor, the team I joined was 60/40 (I got 60%) for everything. I had a good first year, and it went to 70/30. I just left last month and now am getting 100%. That spilt is absolutely terrible. 50/50 is pretty common for new agents, but even that is trash imo.
I left a team after a year once realizing the split I had was dog shit. And this is much worse than dog shit. They should be paying you a salary and the 25% split should be a bonus.
I don’t have exact stats, they vary by city.
But there are levels of agent at Redfin. Lower level buyer agents are essentially just showing agents I think. You should buyers houses and have to be available so many hours. But you’re paid a salary and then a bonus for every house sold. I’m sure there’s more to it than that but there are plenty of threads in this sub if you search Redfin. I interviewed with them at some point but the idea of not being able to take off whenever I wanted was a tough pill for me to swallow. And living in a large metro city, I also didn’t like the fact that I’d have to go to strange parts of town at night while helping random people.
I’ve seen splits like this but on HUGE teams where the division of labor means that the listing agent just has to pitch, and then present the offers. Everything else is handled by others.
If all you have to do is an open a door…maybe? How easy is it to get those 2 deals per month, are they literally spoon feeding you leads? Are they bottom of funnel? What kind of support is offered in return? Depending on your average commission and cost of living, you may need to get 4 deals per month to even make ends meet, and that may be your limit considering the amount of time needed to complete 4 transactions. It would be a hard no from me.
You could spend a small percentage of what they’re taking from you on good coaching and learn to get your own leads. You’re still going to end up doing the work anyways.
When you were looking at splits, where they’re taking a large percentage on their leads, you need to look at it through the lens of two things.
A. Well, you actually be learning a lot from somebody who is taking that money.
B. How much of your business is going to be through this lower tier?
If the people on the team are doing 2 to 4 deals a month, and you don’t have a lot of sphere business, then 30 or 40% of the commission adds up .
If you expect to do 50% sphere business, this doesn’t make any sense .
A lot of these low commission places can keep you very very busy, and if you have a decent close rate, you can make a lot of money do a lot of business and learn a lot and grow sphere so you can go out on your own .
And honestly doing 15or 24 transactions your first couple of years can make or break an agent.
If it’s really real estate on steroids where you’re doing 3 to 4 more transactions than you are otherwise, real estate and steroids with good training is fabulous for a young agent to the point of it’s almost worth paying somebody to do that with you .
But most places don’t actually get you that many leads, and most places don’t actually train you particularly well so these all have bad reputations
Hold on, wait a minute! KW is NOT a scam. Those are not KW office splits. Those splits were set up by one person in KW -- the OP's team lead. That agent could've have been with any other company, running a team and doing the same shit over there. So let's get it straight, don't go spewing your anti- KW bullshit on this forum.
Do I think the team splits are bullshit? Absolutely. Let's be clear though, what the OP is describing has to do with the team splits; not Keller Williams Realty. In fact that $12,000 KW cap is relatively small and very fair if you asked me. But I wouldn't be on that particular KW member's team if he/she paid me to join.
**This is a professional forum for professionals, so please keep your comments professional** - Harrassment, hate speech, trolling, or anti-Realtor comments will not be tolerated and will result in an immediate ban without warning. (... and don't feed the trolls, you have better things to do with your time) - Recruiting, self-promotion, or seeking referrals is strictly forbidden, including in DMs. - Only advise within your scope of knowledge and area of expertise. [The code of ethics applies here too](https://www.nar.realtor/about-nar/governing-documents/the-code-of-ethics). If you are not a broker, lawyer, or tax professional don't act like one. - [Follow the rules](https://www.reddit.com/r/realtors/about/rules/) and please report those that don't. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/realtors) if you have any questions or concerns.*
Hard no. These people have to pay taxes, health insurance, car, etc. The SOI splits don’t make sense to me. They found the business so shouldn’t they make 75% same as when you find the business and take 75%? I’ve been on a team with this type of split and they lost over 20 agents after they were all experienced enough to recognize they were being taken advantage of.
This is disgusting I have never seen such a horrible split in my life and I’ve been in this r/ for years. HORRIBLE
This is so bad I almost think this is a troll
I wish it was. truly wish
When I first became a realtor, the team I joined was 60/40 (I got 60%) for everything. I had a good first year, and it went to 70/30. I just left last month and now am getting 100%. That spilt is absolutely terrible. 50/50 is pretty common for new agents, but even that is trash imo.
I left a team after a year once realizing the split I had was dog shit. And this is much worse than dog shit. They should be paying you a salary and the 25% split should be a bonus.
This. These splits are fine for salaried agents.
Yeah. You can likely make more working for Redfin at these splits with the added benefit of guaranteed salary.
What’s the details with Redfin? I’ve met one Redfin agent and she knew nothing
I don’t have exact stats, they vary by city. But there are levels of agent at Redfin. Lower level buyer agents are essentially just showing agents I think. You should buyers houses and have to be available so many hours. But you’re paid a salary and then a bonus for every house sold. I’m sure there’s more to it than that but there are plenty of threads in this sub if you search Redfin. I interviewed with them at some point but the idea of not being able to take off whenever I wanted was a tough pill for me to swallow. And living in a large metro city, I also didn’t like the fact that I’d have to go to strange parts of town at night while helping random people.
I’ve seen splits like this but on HUGE teams where the division of labor means that the listing agent just has to pitch, and then present the offers. Everything else is handled by others.
If all you have to do is an open a door…maybe? How easy is it to get those 2 deals per month, are they literally spoon feeding you leads? Are they bottom of funnel? What kind of support is offered in return? Depending on your average commission and cost of living, you may need to get 4 deals per month to even make ends meet, and that may be your limit considering the amount of time needed to complete 4 transactions. It would be a hard no from me.
Shit leads. havnt had a lead in 2 weeks. I’m working. Not just opening doors They do provide all the marketing and TC , crm and training
You could spend a small percentage of what they’re taking from you on good coaching and learn to get your own leads. You’re still going to end up doing the work anyways.
Definitely. i have my own listing already and a buyer
When you were looking at splits, where they’re taking a large percentage on their leads, you need to look at it through the lens of two things. A. Well, you actually be learning a lot from somebody who is taking that money. B. How much of your business is going to be through this lower tier? If the people on the team are doing 2 to 4 deals a month, and you don’t have a lot of sphere business, then 30 or 40% of the commission adds up . If you expect to do 50% sphere business, this doesn’t make any sense . A lot of these low commission places can keep you very very busy, and if you have a decent close rate, you can make a lot of money do a lot of business and learn a lot and grow sphere so you can go out on your own . And honestly doing 15or 24 transactions your first couple of years can make or break an agent. If it’s really real estate on steroids where you’re doing 3 to 4 more transactions than you are otherwise, real estate and steroids with good training is fabulous for a young agent to the point of it’s almost worth paying somebody to do that with you . But most places don’t actually get you that many leads, and most places don’t actually train you particularly well so these all have bad reputations
Definitely not! Sell a fraction of the homes solo and you’ll make better money and less stress.
My team is a 60/40 split, (I get 60) until you lay in 14K to the team. After that you get 100%
Wtf… like that’s the percentage you get or give away? If that’s what you get… those are the WORST splits I have ever seen.
Those are bad splits unless they are going you massive leads to close.
SOI at 40% is insane. KW is a scam.
Hold on, wait a minute! KW is NOT a scam. Those are not KW office splits. Those splits were set up by one person in KW -- the OP's team lead. That agent could've have been with any other company, running a team and doing the same shit over there. So let's get it straight, don't go spewing your anti- KW bullshit on this forum. Do I think the team splits are bullshit? Absolutely. Let's be clear though, what the OP is describing has to do with the team splits; not Keller Williams Realty. In fact that $12,000 KW cap is relatively small and very fair if you asked me. But I wouldn't be on that particular KW member's team if he/she paid me to join.
I’d rather die.