Summary of "How Do You Split Commissions On A Real Estate Team"

The video discusses how to split commissions on a Real estate team in a way that is profitable for both the team leader and team members. The presenter, Verl Workman, emphasizes the importance of creating a Compensation model that allows team members to be successful while also ensuring profitability for the team leader. The main points covered include:

Building a Compensation model that allows for profitability and success for team members
Hiring a Client care coordinator as the first team member
Compensating client care coordinators based on transactions or hourly pay
Structuring compensation for Buyer's agents with a 40-60 split for the first two transactions and increasing percentages for subsequent deals
Emphasizing the importance of focusing on the amount of money team members take home rather than the split percentage
Providing an example of how an agent can make $100,000 a year on a 40-60 split
Paying Listing partners between 25-35% due to the additional costs associated with listings
Emphasizing the need to explain the compensation program during the interview process and providing a Buyer agency agreement template for clarity