A real estate broker pays an amount of almost $5400 per year if he has an 80/20 split. This means that the amount will be higher if it is a 70/30 split. This is very common for the real estate agents who have sold only three homes at $300,000 and are presently having a split of 80/20 or 70/30. Apart from this amount, the broker will also collect $295 to $399 as the transaction fee. This in turn means that you will be paying an additional amount of $897 to $1197 every year additionally apart from $5400. This means that the real estate agent will have to shell out a major part of his earnings to others and will be left with very little amount. However, there is a way out for the real estate agent to come out of this tricky situation. The real estate agent can take the help of broker of record in Florida. The advantage here would be that you will be collecting the per transaction fee of $295 to $399 from the clients and will also pay E & O insurance additionally. This amount will be about $800 to $1000 per year approximately. Due to this, you will be able to keep the extra $5400 with yourself rather than having to pay to your broker. You will also be able to keep the transaction fee of $1197 which you will be getting from the sale of the three houses. Under this scenario, you will get a very good hike of almost 20 to 30 percent which was not possible otherwise.

The problem with a 100% commission plan is that you will have to pay a brokerage fee of $295 to $399 per transaction. The amount remains constant irrespective of the price at which you have sold the property. The case with broker of record is however different as the entire brokerage will be yours. You will be the only person who will be collecting the per transaction fee from your clients. This way, you will be easily able to get an additional amount of $4788 if you are able to close about 12 property transactions in a year. The real estate agents can now avail the broker of record services to earn more. The agents can become a Florida Qualifying broker by appearing for the Real Estate Sales Associate Examination. The agent should get a grade of minimum 75%. Passing the exam, the agent will get the real estate broker license florida. Once the agent gets the license, he can start his own company and use his creativity to expand his business.

Address:

8430 Nadmar Ave.
Boca Raton
FL
33434
USA
561-533-9797

Are you a licensed real estate agent and want to have your own brokerage, then hire qualifying broker of record at Floridabrokerofrecord.com. We provide an opportunity to run your own company to earn more profits and experience to develop your business. To sign the contract and start your own business, please visit at http://floridabrokerofrecord.com/