Commission Structure Working for a Broker

I am about to start working for a broker as an independent agent. We agreed to no salary just commission yet the broker is asking me to split the new business commission as 70/30 70% for me and 30% for him. Is this fair? What are the industry standards? What structure should I propose?

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Broker commission
by: Ted

In reference to your broker commission. Generally a broker has a contract from a company for a certain percentage.

In doing so, there is a business expense to him for bookkeeping, upkeep,training and developing new agents like you, and so on. He can not so that for nothing.

Lets say that he gets 100% and of that 100% he keeps 30% and pays out 70%. That is about standard for the industry. Again, I don't know all the details of what is provide, and whether you are being advanced on commisions or not.

Hope this helps..Ted

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