A Real Estate Agent Independent Contractor Agreement is a legally binding document that sets the terms of a working relationship between an agent working as an independent contractor and a real estate company.
The contractor agreement defines the commission split, the agent’s licensure requirements, and the expenses each party is responsible for. It may also set the process and amounts for the agent taking a draw when the company agrees to pay them a certain amount before commissions.
An independent real estate agent is a licensed realtor who secures clients, plans open houses, and conducts sales. The agency may provide them with office space, supplies, marketing assistance, advance payments, and leads. Independent agents have more flexibility but less stability and support.
Real estate agencies often hire realtors as employees, but they may bring on an agent as a contractor and provide them with office space and supplies for a portion of their commissions.
Compared to working as an employee at a real estate company, an agent working as an independent contractor must acquire their own insurance. They also can set their own working hours instead of working on the company’s specified schedule.
Whether working independently or with a company, real estate agents:
According to data from ZipRecruiter, in 2023, independent contracting real estate agents make an average salary of $86,356 per year, or $42 an hour. Their earnings range from $28,000 a year to $144,000 per year. Salary depends on location, experience level, and how much the contractor works since they decide their own hours.
Below, you can download a Real Estate Agent Independent Contractor Agreement template in PDF or Word format:
Create a Real Estate Agent Independent Contractor Agreement here!
