Commission Split Structure
(All agents should read this & understand it. By joining our firm, you are agreeing to abide by this Commission Split Structure & it is subject to change from time to time. To be fair to all our agents, GLR will not offer special commission treatment on your deal or payments for personal advertising. We are a team. We are a family. And we want to treat our agents fairly & equally).
Grand Lux Realty offers the fastest no-fee route to 90% commission splits in our area. One of the ways we help you achieve this milestone is by providing excellent “Lead Gen” to our Licensees. We do not charge our agents any fees at all to our firm.
We run our company like a Stat-Driven, Consensus-Based Democracy (Commission Structure & move-up tresh-holds change based on our recent percentage paid out to agents). We invite our agents to participate in the process of creating this Commission Split Structure, via our Leadership Council, which meets monthly on the 2nd Wed. of each month @ 12noon.
Leadership Council Meetings:
GLR offers agents the opportunity to help improve GLR as both an employer & leading Real Estate brokerage through voluntary participation in our Leadership Council.
Being a Grand Lux Realty family member & a member of our Leadership Council is critically important to the positive development of our company. We totally value your friendship & participation.
Agents who wish to join this Leadership Council should:
-Either already be a team leader of other agents or be willing & able to help other agents in a friendly constructive & productive approach. Leadership Council members should be knowledgeable about how to do start, process, & close a full residential RE transaction & have experience with: Buyers & Sellers, Tenants & Landlords, mortgage lenders & home inspections.
-Leadership Council members should be able to promote our family style company values & goals to other agents, clients, other brokers, attorneys, mortgage lenders, & title company personnel, as well as the general public.
-While it is not necessary to be an 80% or 90% earner you should be able to instill confidence in other agents by having a good understanding of the transaction process, a history of having closed deals, & knowledge about how to market & create a positive buying or selling environment.
-You should know which forms are necessary to complete a deal.
-Leadership Council candidates must be fully on-boarded.
We invite GLR licensees to propose changes to this Structure based on the following criteria:
- Will it incentivize more agents to join GLR?
- Will it help GLR agents make more money?
- Will it help GLR increase our sales volume?
- Is it fair (both to other GLR licensees & to ownership)?
Please note: To propose a change to our Commission Split Structure, you must have completed your Agent On-Boarding Checklist first.
Requirements to Get Paid:
- You must provide a completed Deal File in order to be paid.
- Please check the File Requirements page in the Agent Training Section on our website (https://www.grandluxrealty.com/agent-training/grand-lux-realty-file-requirements).
- Please do not ask to be paid without a completed Deal File.
- Please bring your unexpired real estate license pocket card & a business card when you come in to get paid.
Split Percentage Thresh-Holds:
- 70% base commission to all GLR Licensees. All GLR Licensees MUST join the Hudson Gateway Association of Realtors (HGAR). Licensees are responsible for their own HGAR dues.
- 50% split if Licensee is not a member of HGAR or another Board of Realtors.
- 60% split if Licensee hasn’t earned a commission in the past 12 months (starting with Licensee’s 2nd commission check).
- 60% split if Licensee hasn’t completed Part 1 of the Agent Onboarding Checklist.
- 50% split if the Licensee is not a member of the MLS system where the transaction closed (we are members of HGAR, Mid-Hudson MLS, & CT-MLS).
- 50% split to Dis-Associated agents.
- 80% to Licensees who have earned at least $50,000 net to them in the past 12 months, while licensed with GLR.
- 90% to Licensees who have earned at least $75,000 net to them in the past 12 months, while licensed with GLR.
- Quarterly Thresh-Hold Adjustment:
- If the Average company-wide Commissions Paid to Licensees for the previous quarter is >72% then these 2 Thresh-Holds will be increased by $5K each.
- If the Average company-wide Commissions Paid to Licensees for the previous quarter is <68% then these 2 Thresh-Holds will be decreased by $5K each.
- 80% & 90% Licensees are incentivized to help 60% & 70% Licensees do more deals in order to help reduce Move-Up Thresh-Holds.
Licensee Partnership with Michael & Jodi:
- Licensees who would like mentorship/partnership with GLR’s Principal Broker: Michael F. Levy or Jodi D. Levy, will share their commission 50/50 with GLR. Under this type of arrangement, GLR will pay all the marketing costs if it’s a listing. When the commission is earned in this case, GLR will first pay itself back these marketing costs prior to splitting the commission 50/50 with Licensee.
GLR offers an Internal Mentoring Program. This program is available to all GLR Licensees to participate as either a Mentor or a Mentee.
- Mentors earn an extra 10% from their Mentees for 3 transactions or 25% for 1 transaction.
- Mentoring relationships are highly encouraged (for new agents).
- Mentors & Mentees have the option to select their arrangement by mutual agreement & approved by GLR’s Principal Broker.
- Licensees must qualify to be Mentors (usually our 80% & 90% earners).
- Current Mentor List includes:
- Katherine Cresci will host: “Kathy’s Mentoring Mondays” every Monday by appt. from 10am-2pm.
- Imelda C. Otto Isles
- Jeffrey Kuduk
- Amy Huang
It is important that our 80% & 90% split agents help our 60% & 70% split agents do more deals.
We also offer a new Team Leadership Concept called: Michael’s Crew. Michael’s Crew currently consists of:
- Katherine Cresci
- Imelda Isles
- Amy Huang
- Janice Lanza
- Valerie Port
- Jeffrey Kuduk
- Angela Garduno
They are available to help all 70% & 60% earning agents with their business & help them increase their earning opportunity. If you need help please contact them directly. Michael’s Crew is also available to be Team Members with agents needing their help.
GLR Licensees are invited to help us grow by introducing new agents to GLR. Agents can earn a Bonus if the recruit joins GLR:
- $250 for a new Recruit.
- $500 if the Recruit has sold/rented >$1 on our MLS (past 12 months).
- $1,000 if the Recruit has sold/rented >$1M on our MLS (past 12 months).
Recruiting Bonus is paid out of the Office Side of the Recruit’s 1st commission earned while licensed with GLR.
Recruiter & Recruit must be licensed with GLR to earn the Recruiting Bonus.
GLR must have Recruit’s unexpired License & Recruit must be a member of HGAR in order for Recruiter to earn this Bonus.
- GLR offers Lux Bucks, which can be redeemed for Licensee specific advertising.
- Lux Bucks will be rewarded to incentivize various career building efforts.
- Lux Bucks are paid out of the office side of a licensee’s transaction.
- Licensee must provide a paid receipt to earn Lux Bucks.
- 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 reimburse Licensees this $100 with Lux Bucks.
- Attend approved or accredited training, not including Continuing Education credits.
Examples of approved training include:
- Other designations
- Sales, Marketing, & Personal/Professional improvement programs like: Tony Robbins, Landmark Forum or other Coaching programs.
- GLR offers licensing with Grand Lux Realty 2, LLC, a non-MLS brokerage company.
- Agents licensed with GLR2 will be considered Referral Agents.
- GLR2 agents do not need to join HGAR.
- Referral Agents will earn a 25% referral fee, which will be split 50/50 between the agent & GLR2.
- GLR2 agents can join GLR at any time & earn their full commission split.
- No fees for GLR2 agents.
- GLR2 agents are invited to participate in all GLR activities including meetings, trainings, events, bonuses, access to leads, etc.
- GLR is a strong lead generator for our licensees.
- Our Lead Database is available at no additional cost to all GLR Licensees.
- GLR Licensees have the opportunity to work on the Database & assign leads to other GLR Licensees for a 25% Referral Fee. Both agents must agree in writing to this relationship.
- Agents must show progress that the lead is being worked on or the lead goes back into the Database for re-assignment after 90 days.
- Combo lockboxes: $20 deposit
- Supra lockboxes: $100 deposit
GLR will return the deposit when the lockbox is returned to us in working condition.
Agent Internet Promotional Opportunities:
- GLR agents can be “featured” on our website, for free. In order to be featured, you must have completed your Agent Onboarding Checklist, you must have your professional photo & bio on your Agent Profile on the MLS & you must have at least 1 active listing.
- Please get a 1 minute video testimonial from your Principals at the Closing. Upload it to our Social Media sites: Facebook, Twitter, LinkedIn, & Instagram. Tag Grand Lux Realty. Try to get positive reviews on Zillow.com, Realtor.com, Facebook.com, etc.
- ***In order to make the most of your efforts to close a real estate transaction, GLR has an extensive Social Media program set up to help you promote yourself, your business and GLR as a company.
GLR agents are requested to become familiar with and interact with our social media programs.
-Please like, comment & share Grand Lux Realty’s posts on your Facebook, Twitter, LinkedIn, & Instagram accounts. Post photos & videos to those sites.
-“Agent of the Month!”
As an added incentive, to participate GLR will award a monthly prize to the agent who participates the most with our social media campaigns. Make sure your accounts are compliant with Realtor rules.
You could be “Agent of the Month!”***
- We now offer a new Marketing Program. This program is designed to help agents get on-boarded quickly & help us increase your exposure as a GLR agent, as well as helping to grow & expand our company & increase exposure for our listings. All of this is available at no cost to our agents, however all agents must have completed their Agent Onboarding Checklist first. GLR sponsors a Marketing Team meeting in Armonk on Mondays @ 4pm (currently on Zoom). Our Marketing Team is led by: Michael Stephenson, QDC Marketing, M-845-490-1295, [email protected] Please contact Michael directly with specific marketing ideas & for any printing needs (business cards, flyers, etc.)