we don't hire new agents.... we're not set up for that.... I mentor seasoned agents who ask for it or who I see are having problems....  I enjoy doing it and I don't need compensation for it....

We have trainers and coaches and a very good program.

Independent agents have coaches who are on staff with the brokerage.

Agents on teams have coaches that work for the team.

Tons of training, including Ignite which is an essential for new and not so new agents to get a great start. Most of our instructors are either agents who volunteer their time or staff members of the brokerage.

Gone are those days for me.   I used to be the go-to person to explain the contract and help write the addendum language.  No compensation. 

These days. if I am ever in a pickle with a butt-wipe, I consult with my risk management attorney.  

I enjoy flying solo. 

No, but then I guess your broker sucks at matching up agents with mentors.

We did help a newbie get away from her assigned mentor not too long ago. 

Paul,

When CB commercial started years ago, they had an excellent mentoring program.  They would hire newbies and assign them to agents as runners and gophers.  These people would be paid $1000 a month while training and shadowing the agent.  At the end of a year, they were on their own...A

We do, and yest mentors get compensated. 

Not a formal program, but we are looking at formalizing it for those who want a mentor. We do, however, have fantastic training programs both formal and by experienced agents helping train. In fact, I'm off to teach a class this morning on listing presentations (second time since February as I was asked back by popular demand because I'm fun ).

Nope. However, there a number of teams lead by outstanding agents.

No. When I first started, the so called mentors in our office were total jerks, and they really didn't want to mentor new agents. All they were really interested in is getting 50% of new agents first 3-4 deals. My current office does have regular trainings and master mind meetings for those that want to attend.

The mentors are paid a portion of the agents commission for the first three sales.

No, i'm in a small brokerage and if the broker takes a new agent, he is usually mentoring him/her.

yes - they get about 10% (negotiated and dependent on how much help and time is spent) at closing.

My Brokerage has a Mentoring program. Any "new" agent must agree to Mentoring as each agent in the company must complete 6 transactions each year. They need mentoring to learn how and what to do.

Each mentee in the program agrees to the first 3 transactions giving a certain percentage to the program and Mentor. Once 3 transactions close, they no longer give a split, but the Mentor doesn't just stop helping. We're there for their success.

There is also a minimum and maximum price point for the fee. Many Mentee have gotten family members to buy cheap pieces of $10k land in the boonies, and counting that as a transaction. No longer allowed. Also, some agents get into higher prices very quickly, so there is a cap on the high end.

Funny, I have only been to my office one time since joining, so could not tell you!

Yes, we have. 

Paul. 

Old school. Today new agents sell and don't know how to write a contract. Got figure.

I remember my own mentor when I was first licensed.  Went away on a "vacation" for weeks.  Learned a lot on my own.  And by mistake.  Some mentors are good.  Others are better than others.  And some fit into other categories.  The same is likely true with mentoring programs.  

No

We do & the mentor gets paid for the first few transactions up to a set amount mapped out on a formal agreement.  It works - especially when the newbie is motivated and the mentor is patient.  :)

At my company there's an opportunity for residual income if I bring someone in. I would have to mentor them. Experienced Agents is what you want. Newly licensed agents are a lot of work in exchange for the hope that you'll see the investment payoff. 

Some mentors split the fees earned by the newbie for up to one year! Sounds onerous until you look at the results. Those mentored were normally multi-million dollar producers their second year!

Some mentoring programs having the mentor participating in fees earned by the newbie for 3 to 5 transanctions.

We don't, and we have very few new agents.

We don't bring in new agents.  If we did, it would likely be mostly me with certain portions being taught by my Broker.  The compensation would be in our split as Brokers, an increase in sales and reduction in liability.

Brokers, because of the advent of 'teams' have now abandoned mentoring and training and deferred such responsibilities to teams. As an outcome you see KW agents doing crazy stuff.

Remax was built on experienced agents, those who have already closed many transactions and have no need for such distractions. Evolving technology however has compelled brokers to hire technology specialist. And I'm certain the broker was brought to tears because these are people they have to pay, unlike their commitment to real estate agents.

So, the real question is, what compensation would I expect if I were mentoring a newbie?  Would I want to be compensated for results or invested time?

I'm leaning towards results if they have a BP and time based if they were simply a heartbeat to the broker.

I am the broker, so no mentoring for me.

Since I am the broker I mentor.

Brokers who are vested in the industry understand that an agent's adverse behavior under their umbrella is a ripple effect that comes right back to them. We have an excellent broker who is tech savvy, intelligent and makes herself available to agents.

Thanks for the mentoring idea...will suggest it to the owners of our brokerage. Why not? Some new agents are very needy and require a large amount of time...some need constant assurance that they are good enough and can succeed.