Dear Monty: I am a new agent. A relative asked me to co-list their home with an agent they knew. We both work at the same brokerage. I was to receive a portion of the listing commission with the split between us skewed toward the experienced agent. The experienced agent was to train me, be my mentor and share in future commissions on business I generated. Next, my relative accepted an offer for the property that is now in escrow. When I asked to see the contract, my mentor ignored me. The commission sharing escrow form did not include me. My relative signed that document, not realizing my name had to be on it. My “mentor” also increased a pre-agreed commission amount. My relative told me she felt pressured, but she needed the sale and agreed. My mentor said they would add me to the commission document before closing escrow. But when I questioned it, I was put off. I fear I am being taken advantage of because I am new and will end up with a pittance if anything. It was a big sale, and I still feel discouraged. I don’t know if I want to make this my profession if my mentor takes advantage of me. What can I do to protect myself?
Monty’s Answer: Being in real estate sales is not easy for most practitioners, even when they have been in it for years. It is a highly competitive, internally focused career where few can entirely master the job description. My experience has been that the few good agents are not easy to find, but they are out there. According to the National Association of Realtors, the average agent has only 10 transactions a year. When I hear your story, I suspect your mentor is not among the few. “Watch their feet, not their lips” is an excellent exercise to practice forever.
