Well today it finally happened. The 'other' shoe dropped. My broker informed me today that he wants me to begin picking up the $400 monthly pass-through costs of being a real estate agent. I'm not sure what to do. My agreement is for a certain percentage split with the broker up to an already agreed upon amount. Now he wants to change that agreement.
Should I change brokers and move to a new office or should I pay the $400 a month. I realize many people may much higher desk fees per month, but that is not my point. The original agreement is no upfront fees based on the commission split.
I will say that I am really only looking do real estate part time. I also realize there are costs associated with me being an employee. If I'm not producing then the broker is not recouping any of their costs - I get all that. Last time I checked not too many brokers were hurting for money. Last time I checked MY broker was not hurting for money.
Now what to do. I hate the idea of switching brokerages just to switch, and I don't like the idea of giving up any more commission that I have to. At the same time I'm not really sure that I am willing to pay $400 a month to work for someone on a 100% commission basis.
Who has a program similar to RE/MAX? Do I go to another RE/MAX broker or do I change companies all together ? Should I join a team or stay on my own? Too many questions to think about.