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Compensation for listing specialist

By
Real Estate Agent with Certified Staging Professional (CSP) Elite Instructor

I'm considering hiring a listing specialist and need suggestions on compensation other than a salary.  Sounds crazy in today's market, huh?  Business is good, but it can always be better.  Good listings bring in the more buyers for all my sellers so if I can generate listings to attract a larger pool, we can helped more families. 70% of my business is referrals and quite frankly I haven't had time to spend getting other listings so it's time to expand and tap into a different lead source for listings.

I know a real estate agent that is not currently practicing in SC but I think would be perfect for a listing specialist.  She is great at cold calling and is working for a company that helps non profit organizations ask for money.  She's #1 in the company asking for money.  Asking for an appointment would have to be a piece of cake, right? She currently doesn't live in my market yet, but is planning on making a move.  She still has her SC real estate license from when she lived here, but she didn't have much luck on her own. I thought I'd try it out and just have her get the appointments and I can do the presentation.   The question is, how do I compensate her in the mean time? Or even after she gets here.  I'd prefer to do a straight up split versus a salary. Any suggestions would be greatly appreciated.

Comments (8)

Heather the Realtor Orlando, Lake Mary
LemonTree Realty - Orlando, FL
First Time Home Buyers, Bank Owned Homes

I would do a referral fee. If she is just making calls and setting appointments maybe 10 or 15% if she does more 25% but I would just do splits.

Jun 20, 2008 02:54 PM
Carrie Perez
Elk Rapids, MI
MBA

I think that if you determine the amount of work she is doing, it would be fair to compensate her as much as you agree upon. The cold calls are the hard part that initiates the listing, and I agree with the previous comment. Maybe start at 15% if she just sets the appointment and go from there to get a feel for how much she is contributing obverall and decide how much she will be doing-maybe review with her after 30 and 90 days to set the pace.  

Jun 20, 2008 03:16 PM
Robert Huntsinger
Empire Realty - Upland, CA
Empire Realty Upland, CA - Full Service at a Discount

Yup the information given is in line with what I have done in the past.

Take care!

RJH

Jun 20, 2008 03:30 PM
Michele Reneau
Certified Staging Professional (CSP) Elite Instructor - Summerville, SC
Realtor, GRI ~ Charleston, SC Relocation Experts Team

Thanks guys! I'm going to look at the budget and see what room there is, but your suggestions sound like a great start.  When she gets here, I can add more responsibility as far as servicing the listing too and increase the split.  

 

Jun 22, 2008 12:25 AM
Larry Bettag
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
Vice-President of National Production

I'll also incent for them to bring their own deals as well.

Jun 24, 2008 03:48 PM
Melissa Marro
Keller Williams First Coast Realty - The Marro Team - Orange Park, FL
Jacksonville Real Estate and Home Staging

I'm excited to hear that you are expanding your business!  Congratulations!  You are one of the best agents that I get to work with on a regular basis, so I certainly understand why you are able to do this when so many are barely able to pull things together...

Jun 25, 2008 02:49 PM
Michael "Mike" Miller
EXIT REALTY SERVICES - Moon Township, PA
My service will move you! Help me, help you!

Michele, Congratulation on your planned expansion.  Start slow and easy so as not to take one step forward to end up two steps back.  It sounds like she would be a terrific boost to your business.  Keep in mind that it's better to under promise (up front) and over deliver (upon results).  Mike

Jun 30, 2008 02:21 AM
Michele Reneau
Certified Staging Professional (CSP) Elite Instructor - Summerville, SC
Realtor, GRI ~ Charleston, SC Relocation Experts Team

Thanks Mike! Great advice.

Jun 30, 2008 02:24 AM