50-50 splits not necessarily a thing of the past
Two broker-owners find a way to work the 50-50 split into today's tool kit.
(Boonton, NJ, June 1, 2013) — Brokers once lamented the good old days of favorable commission splits with agents — days long past.
The commission war is over, and the agents won, says Edward Berenbaum, president of Century 21 Redwood Realty.
But Berenbaum and another broker interviewed for the June issue of Real Estate Broker's Insider have found a way to win at least one battle.
Century 21 Redwood in Northern Virginia and FishMLS Realty in Minnesota both take 50-50 splits on leads generated by the company.
While agents aspire to be so flooded with business that they don't need the broker’s leads, they're also willing to give up a big chunk of their commission for a hot prospect, both brokers say.
Details on these two firms' business models appear in the June issue of Real Estate Broker's Insider.
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