Team has switched up splits

Whats up guys – using an alternate acct.

 

For context, I am located in a large southwestern market at a strong regional firm, and have been a broker in the business for 3 1/2 years. My team focuses on both Landlord and Tenant rep, and we recently added another team member. Because of this, my team split has been cut to 5%, but they will give me 25% of deals I bring in. I still with do analyst type duties (essentially leg work) while mainly prospecting. They prefer I work to do a high volume of smaller space deals.

 

I have no experience in renegotiating splits, as I accepted my initial splits in order to get experience in the business. Do you guys think this is fair? I’ve had a few other brokers that I know well at different firms mention I could join up there, and feel that I could make more while partnering with them as I feel comfortable now with my experience level.  Of course it’s a higher risk as I won’t be on a team, but always knew i would do this eventually. Thoughts?
[{"id": "fffjmqx", "text": "If you can, build a spreadsheet that outlines deal fees, who brought them in, and total up everyone's splits. If you feel you are not being paid your fair share, then this will be able to be your due diligence. Your biggest bargaining chip is bringing in business.", "replies": [], "depth": 1}, {"id": "ffrop9e", "text": "5% seems low, how big is the team?", "replies": [{"id": "ffrpz0o", "text": "4 brokers including myself. They are saying that the feel the 25% split should be enough to make up for the difference. I feel at a little over 3 years I am comfortable maybe seeking out opportunities with another firm. More risk as not getting that hefty 5% (joke) of team, but higher splits with firm over all (more than 25%)", "replies": [{"id": "ffrusxr", "text": "Explain that again.\n\n25% of the total commission?", "replies": [{"id": "ffrxm5u", "text": "Whatever deal I source, I get 25% of the commission. Rest gets split among my 2 partners and other broker on the team.\n\nWhatever deals my team works on that I did not source, regardless of the work that I do on it (financial analysis, gather information on interested properties, etc) I get 5%. I end up working a lot for that 5% but it won\u2019t budge now.", "replies": [{"id": "ffrz04x", "text": "Well, that's a shit percentage but it really just depends on the size and quantity of deals.\n\nIf it's a bunch of small deals then that would not seem like an adequate %.", "replies": [{"id": "ffrz770", "text": "Deals are anywhere from 2500-7500 sf. Typically what my team works on.", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ffrqzx5", "text": "25% is very low for deals you\u2019re bringing in after 3 1/2 years. I would expect you to be at least at 50% for deals your sourcing. \n\nThe 5% seems low but depending on how much business your team is doing it might be fine. \n\nHow many deals did you bring in last year and what were the gross fees?", "replies": [{"id": "ffrsm51", "text": "Team isn\u2019t the highest producing team in regards to others in our office, but does well. Brought in 10 deals that were a blend of tenant / landlord rep that grossed almost 190k. Now am focusing on just bringing in tenant rep deals. \n\nI ran the numbers and that 5% will basically cap out at like $45k-$50k if our team does considerably more than we did the last two years, so there\u2019s the potential for me to make less.", "replies": [{"id": "ffrx45k", "text": "Do you think you could have brought in those 10 deals at another firm or was the reputation of your lead broker was got those deals. \n\nAt Marcus, SVN, or any franchised brokerage you should get 50% splits on deals you bring in. \n\nTo be honest, you really aren\u2019t going to make great money on a leasing team unless you\u2019re really doing very large deals. If you\u2019re going for volume you mine as well find a smaller firm, go out on your own, and prospect like crazy. You have some deals under your belt you should be able to speak about your market well. I know guys at large national offices getting 5% on team deals but they\u2019re making $100k a year off that and they get better than 25% on deals they bring in after they\u2019ve done 3. \n\nIn my opinion you should know the business enough after 3 1/2 years to succeed on your own in the high volume of small deal approach. If the goal is to do 300k sf leases then stick around on the team.", "replies": [{"id": "ffrz572", "text": "My partners role only came into play to provide market\nKnowledge, I got the deals via cold call and prospecting. I don\u2019t think firm reputation had anything as these guys I got are small local business with maybe a few having multiple locations throughout the state. Nothing huge like some big players get", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}]