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Does anyone have information on agent becoming Real Estate Partners and Co-listing properties?

I am considering partnering with another agent in my office to sell real estate and advertising. I am a new agent and I want to know if anyone is doing this and how they are handling the commission splits on the the listings. Also, are you using written contracts to govern your partnerships? Are there any drawbacks that any of you have experienced?

Public Comments

1. Eight of us work as a group, but we rarely 'partner' on anything. We simply use the resources we have developed to benefit more than one person. Partnering can be dicey. If you agree on a 50-50 split and one person does more of the work than another, there could be some bad feelings which develop. I recommend going it alone.
2. its usually a 50/50 split, there;'s usually no special contract- except the selling contract should have both of your names listed with signatures. and in most cases- if you are a new agent- other agents in the office are there to help you to some extent without co-listing, for the most part many people remember how it was facing things on their own in a new office and new career and are willing to help, its almost expected in most offices. besides that - your broker has agreed to take you under their wing and show you the ropes, you are already splitting commissions with your broker- so they should be the ones helping out. As for drawbacks- well real estate in my opinion is a dog eat dog buisness- commissions put food on the table , and because of that I have noticed alot of unethical things occur. Thats not to say the agent you paired up with is like that- but its something to watch out for. Just be careful, and make sure your broker kows about how you plan on splitting commissions. good luck