Getting Paid Commissions After Leaving
Currently working at a developer where I've got several leases in the LOI stage. I'm taking a job at a different developer and I wanted to know what industry standard on earning commissions on those deals is?
I'm not expecting to earn a full commission on them but surely I would get something? For what its worth I will have 2 of the LOIs signed and executed before I leave. I'm exiting my current company on friendly terms.
When I was a broker I was paid a commission for a deal I signed up after I left. I don’t think there is an industry standard though. Check your employment contract. It should hopefully have a clause on how this is handled. If you’re not using your brokerage license for your next employer, maybe you can also keep your license held at your current firm, and keep working the deals until they close. Just work that out with the new employer before you go.
Whatever you agree agree on get it in writing, ideally with a formal contract. To be honest, I am not sure if you have much leverage or power here (depends on if you have an employment agreement that contemplates this stuff). Many developers (and most corporate employment tbh) will clearly state all bonuses/payments (be it for leasing or just promotes/carries/bonuses/etc.) are contingent on current, on-going employment at the time of payment (i.e. why people quit day after bonus payments clear...).
That said, there are legit deals of fairness, reputation, and just doing the right thing (assuming you have a legit standing). To that end, like everything else, all things are negotiable.
Sadly, the one case I know of (a friend who worked for a developer and was basically in the same situation you described), involved getting an agreement on ex-post payments. When it was time to pay, the developer basically said, F-off and sue me! I think my friend did sue (it was matters of $100ks), and probably settled for less. This was just the nature of the developer (and the owner/CEO had a reputation for these stunts tbh), others will honor any agreement they make by right of behavior.
The biggest issue is getting it agreed before you leave, once you go, your leverage falls to zero.
Are you a broker or a salaried employee at a developer? If it's the latter... well, that's the game. If everyone could quit after closing a huge deal and demand a piece, the industry would function in a fundamentally different manner.
Salaried employee. I have my license and attempt to source new leases when I have the time. Nothing in employment contract discusses this.
Well, I am not a lawyer, nor do I play one on television, but that doesn't sound great for you. My initial thought is that sourcing new business is part of the job - something you should expect to be compensated for, but at bonus/raise time and not on a deal by deal basis at closing. From company's point of view, I can see why it would be bad policy/bad for morale to be giving commissions to certain employees and not others.
Sounds like I'm not communicating well. I do get commissions for bringing in leases just like everyone else in the company. I'm also paid a salary+bonus that has nothing to do with the leases I bring in. I've received commissions for leases I've brought in in the past.
I know I dont have leverage here but I'm thinking I'll get some kind of cut of what I would have gotten
I think you just need to communicate your expectations to your colleagues. 
You probably will have more leverage if you stay involved in the process through closing and see the deals through even if you’ve left. Otherwise it’s kind of like you dumping the remainder of the heavy lifting on your old firm and telling them to send you a check after they’ve done the rest of the work.
Just make sure whatever you guys agree on get it in writing. This is actually pretty common amongst brokers who switch firms.
I would love to stay involved with he deals but it doesn't look like the firm will let me.
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