What fees are involved in working for a large Real Estate Company like Century 21?
By admin
Filed under Real Estate Tools
I don’t know much about working for a Real Estate company, and am looking to work at a Century 21 office in California. How does it work when you work at their office, since you are "in business for yourself". Is there a fee to work at their office? When do you pay them? Is it based on when you sell a house or monthly? Would you have to pay for all the "tools" they office, such as website design, etc? Any information is welcomed!
With Century 21 you will have to pay a franchise fee that is deducted from each closing. It is usually less than 10%.
Of what is remaining, you will have a split with your broker/office. Some do a 50/50 split.
Beyond that, if your office has fees or group expenses, those are divided amongst the agents.
The franchise fee and split cover admin staff, office expenses, "tools", etc. Century 21′s corporate arm offers tools and marketing materials that are your individual responsibility. Your signs, business cards, and all personal marketing items are at your expense as well.