Brokerage
The company agents work under. Commission checks go to the brokerage first, which pays the agent their share after its split and fees.
Also called: real estate company, real estate firm, office
Related terms
How a commission is divided between the agent and the brokerage. With an 80/20 split, the agent keeps 80% and the brokerage gets 20%, often until a cap.
The most an agent pays their brokerage in splits in a year. After you cap, you keep 100% of your commission, minus any per-deal fees.
A brokerage without traditional offices. Agents work remotely and use online tools, which often means lower fees and a higher split.
The broker legally responsible for a brokerage or office. They oversee agents, review files and hold escrow funds. The title varies by state.
A cut of each commission paid to a national brand, often 5% to 8%. Agents at franchise brokerages usually pay it on top of their split.