Hello Henry,
You've posed an interesting question on a unique commission sharing arrangement that your friend has come up with. It is highly un-conventional too as they are not recognised in any of the company's structure.
However, before being too quick to pass judgement, take a moment and look into WHY this scheme was introduced.
First and foremost,
70% of real estate agents leave the industry in 12 months
75% of all new agents don't close a deal for the first 6 months
Real estate has 2 primary branches,
1. The Seller (Listing)
2. The Buyer
For a fresh new agent, getting listings is very challenging, to "farm" for buyers is challenging as well. Thus caught between a rock and a hard place, most new agents give up.
Now there's a scheme to PROVIDE buyers and to bring them to established listings. In my opinion, their survival has improved drastically.
In the meantime, they gain valuable skills on OjT, and get good money as well.
Thus looking at it again, 50/50 looks bad, but good chance to get 50%.
At 100% commission, but no deals, its still a big fat $0.
Thus give your friend some time, once he/she's mastered the skills, his odds are much better than someone trying out in the industry without any guidance.
Your Singapore Condo Specialist Team,
Mervin Tang
Senior Marketing Associates
Developer's Appointed Agency
Huttons Real Estate Group
Call Today:
(+65) 9184 0208
Website: http://www.sgcondospecialist.com
Sales Enquiry: enquiry@sgcondospecialist.com
Career Opportunities: career@sgcondospecialist.com
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