After projecting your staffing budget, hire the right people for your firm:

  • How many staff do you need/want?
  • What functions will staff perform; licensed vs. unlicensed?
  • Obtain or develop job descriptions
  • Determine salaries
  • Identify what kind of training you will require/provide
  • Develop and set expectations
  • Determine what staff benefits you will offer
  • Payroll – who will be handling paychecks and tax reporting?
  • Obtain Independent Contractor Forms (real estate agents) resource: NAR
  • Determine commission structure options for your agents

Resources
Field Guide to Compensation Plans for Real Estate Agents – National Assn. of REALTORS®

Creating a Good Job Description – REALTOR® Magazine

Tax Requirements for Employees – REALTOR® Magazine

Understand Your Salespeople’s Worker Classification – REALTOR® Magazine

Tax Requirements for Employees – REALTOR® Magazine

Employment Law – REALTOR® Magazine

Types of Personal Assistants – REALTOR® Magazine

Arizona Dept. of Real Estate S.P.S. 2005.04: Unlicensed Assistants

Show Me The Money: Compensation Planning – Real Estate Business Institute