Grand Lux Realty offers the fastest route to 90% commission splits, while providing “tons of leads” to our Licensees, & holding fees down.
1. 70% base commission to GLR Licensees. All GLR Licensees must join the Hudson Gateway Association of Realtors (HGAR). In an effort to incentivize our Licensees to join HGAR, any Licensees that are not members of HGAR or another Board of Realtors will earn a 50% commission split instead of 70%.
2. 80% to Licensees who have earned $50,000 net in the past 12 months (as of the last day of the previous month), while licensed with GLR.
3. 90% to Licensees who have earned $75,000 in net commissions in the past 12 months (as of the last day of the previous month), while licensed with GLR.
4. Licensees who require or desire mentorship/partnership with GLR’s Principal Broker, namely Michael F. Levy or Jodi D. Levy, will share their commission income 50/50 with GLR, at GLR’s discretion & GLR will pay all the marketing fees if it’s a listing.
5. Recruiting Bonus: $250 to the Recruiter when the Recruit joins GLR & HGAR & we receive their license, plus 3% of the Gross Commission from the office side commission of the Recruit’s transactions paid to the Recruiter for 24 months from date the Recruit joins GLR & HGAR. Recruiter & Recruit must remain licensed with GLR to earn the Recruiting Bonus.
6. We urge all new licensees to take advantage of our Internal Mentoring Program. Mentors will earn an extra 10% from their Mentees for at least 3 transactions or 25% for 1 transaction. Mentoring relationships are highly encouraged (for new agents) and arranged by mutual agreement between Mentor & Mentee & approved by GLR’s Principal Broker. Mentees will effectively earn a 60% commission split (70% from GLR less 10% to their Mentor). Licensees must qualify to be Mentors (usually our 80% & 90% earners). Katherine Cresci will host: “Kathy’s Mentoring Mondays” every Monday by appt. in the Armonk office from 10am-2pm. Imelda Isles is our Admin & is also available for Mentor/Mentee relationships. It is important that our 80% & 90% earning agents help our 70% earning agents do more deals.
7. For True Teams only (all commissions are shared equally): 80% & 90% rules apply to both agents together. For other (not pure) Teams, you must write down your split arrangement, date it, & all invoved agents sign the paper for the deal file.
8. If a Licensee dis-associates prior to their transactions closing they will earn a 50% commission split on those transactions.
9. Combo lockboxes are available for a $20 deposit & Supra lockboxes are available for a $100 deposit.
10. Lux Bucks: GLR will reward Lux Bucks, which can be redeemed for Licensee specific advertising & promotions. Lux Bucks will be rewarded to incentivize various career building efforts.
A. Attending training called “Jump Start RE Training” with Susan Meliti in the Bronx. The class is 8 hours or two 4 hour sessions & costs $100. GLR will pay Licensees this $100 towards their personal advertising out of the Licensee’s next transaction.
B. Attend some other training, not including Continuing Education credits. Examples of additional training include: GRI & CRS classes.
We are currently offering Lux Bucks to reward training. Bring in your receipt & GLR will pay you back towards your personal advertising & promotions, out of the office side of your next commission.
11. We will now offer licensing with Grand Lux Realty 2, LLC, a non-MLS brokerage company. Agents licensed with GLR2 will be considered Referral Agents. Referral Agents will earn a 25% referral fee & do not need to join HGAR. GLR2 agents can join GLR or GLR/CR at any time. No fees for GLR2 agents. The 25% referral fee will be split 50/50.
12. We attract a lot of leads. GLR is a lead-generation machine for our agents. Our database of leads is available to all of our agents for free. Some of our agents will choose to work our database & dole out leads to other agents. In this case, the agent referring the lead will earn a 25% referral fee from the agent that is receiving the lead. Both agents must agree in writing to this relationship.
13. Spring is our big Listing Season. GLR agents will earn a 5% bonus (of the commission) for any sales or rentals for properties listed by you from 3/21-6/21. We want to promote getting more listings in the Spring. We will also offer training for calling potential listers in the Armonk office on Mon., Wed., & Fri. from 1pm-4pm. This bonus is only offered to 70% agents.
14. We will host a special lunch for our 80%-90% commission split earners. This lunch will be quarterly, on the 2nd Tues. of the 2nd month of each quarter: Feb., May, Aug., & Nov.
15. GLR Office Meetings: Armonk-Tues. @ 10:30am, Mamaroneck-Wed. @ 11am, Ardsley-Thurs. @ 1pm.
16. Leadership Council Meetings: Our agent’s ideas significantly shape our company structure. All agents are invited to our Leadership Council, the 2nd Tues. of each month in Armonk @ 10:30am.
17. We will now offer a new Team Leadership Concept called: Michael’s Crew. Michael’s Crew consists of: Katherine Cresci, Imelda Isles, Gabriel Ocasio-Cortez, Christopher Mitchell, Amy Huang, & Angela Garduno. They are available to help all 70% earning agents with their business & help them increase their earning opportunity. If you need help please contact them directly.
18. GLR agents can be “featured” on our website, for free. In order to be featured, you must have your professional photo & bio on your Agent Profile on the MLS & you must have at least 1 active listing.
All GLR licensees affirm that by being licensed with our firm you are agreeing to abide by this new commission split structure.