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Brokerages’ golden handcuffs and incentive splits — Resi Rundown
Sometimes leaving places like Compass, Core and Douglas Elliman isn’t that easy
The sweeteners to recruit agents — bonus commissions — can also serve as golden handcuffs if those agents want to leave the firm. Take, for example, Compass, which requires that agents repay certain bonuses if they leave the firm within two years of receiving those incentives.
The Real Deal’s Hiten Samtani discusses the trials and tribulations some agents can face in such circumstances, including one who thought of leaving Compass only to face the prospect of having to pay back up to $400,000. Other brokerages, like Core, Douglas Elliman and Corcoran, have similar “returnable costs.”
Watch the episode above, and stay tuned for more breakdowns of the most important news and trends in residential brokerage.
— Ted Glanzer