split commission

(redirected from Split Commissions)

Split commission

A commission shared between a broker and a financial adviser or other professional who brought the customer to the broker.

Split Commission

A commission that two or more people share. For example, a broker may split a commission with a friend who introduced a client to the broker as a finder's fee. Alternatively, real estate agents may split the commission on a house if one represents the buyer and the other represents the seller.

split commission

A sales fee divided among two or more people.
References in periodicals archive ?
Facts: Bernard Turnoy was an insurance broker who entered into an agreement with lawyer and fellow insurance salesman David Shiner to equally split commissions on insurance policies covering Shiner's mother-in-law.
Instead of having to split commissions on a 50/50 basis with a brokerage firm and pay high costs for desk and administrative fees, Rutenberg agents are able to keep 100 percent of their commissions.
Even worse than offering to cross-refer clients is offering to split commissions.
The proliferation of insurance-selling professionals poses other challenges to team-building: knowing how and when to split commissions and, where necessary, encouraging colleagues to commit to full disclosure.