In addition to commission splits,reasons for joining our team of professionals should include training and access to all Multiple Listing Services in the New York City metropolitan area.
Level of experience ( beginner, intermediate or advanced) and level of productivity ( low, middle or top) should help determine the best commission plan.
100 % Commission
NO MONTHLY FEE-$ 898 per TRANSACTION SIDE.($ 1498 if selling own listing).
Rentals 10%. ( $50 E&O on sales). To qualify, agent, MUST have a minimum of 10 Transactions the previous year and must maintain same level of productivity.
Keep 95%. Pay 5% + $500 monthly ( taken from commission at closing). Sales and rentals. ( $50 E & O on sales)
90 % Commission
Keep 90%. Pay 10% + $99 Monthly. Sales and rentals ( $ 50 E & O on sales)Minimum of 10 Transactions the previous year.
NO monthly fees/NO Transaction fees. Sales and Rentals ( $ 50 E & O on sales).Minimum of 6 transactions the year before.
No monthly fees/NO transaction fees- NO minimum production required($ 50 E&O) on sales)
*** E & O -$50 on sale transactions applies to all plans.
RESIDUAL INCOME- There is NO LIMIT on how much PASSIVE INCOME you can make. For every agent you bring on board on the 70/30 and 80/20 plans, you will get a 5% override, which comes out of Empire State Realty’s side.
Example: If you recruited 10 agents who make $80k per year, you would make $4000 per agent. That is $40k per year in PASSIVE INCOME (very realistic). Work your own numbers.
“A La Carte Services ” may be available to agents for a FEE”. If an agent cannot attend a engineer inspection, appraisal, survey, final walk through, open house, closing or similar service, another agent ( if available) may substitute for a reasonable FEE. these fees may be deducted from commission and paid to other agent.
LISTING PRESENTATIONS (OPTIONAL)– If a senior broker personally makes a listing presentation to prospective seller and subsequently listing is obtained, at closing, $500 for every 10K ( or part thereof) of the listing is deducted from agent’s share.
TUITION REMISSION PROGRAM
When agent takes NAR/NYSAR Designation and Certification courses,tuition will be reimbursed to agent by deducting amount from the top of the full commission and paying it back to the agent.
NOTE: REALTOR/MLS dues and other subscriptions as well as license renewal, business cards,open house,branding/promotional materials,events.admissions,professional organizations dues, CE,sign riders/customized signs/closing gifts, transportation and similar expenses are the responsibility of the agent.