CBRE Joins Cushman, Newmark in Cutting Compensation

Dana Rubinstein in this week’s print Observer broke the news that brokerage powerhouses Cushman & Wakefield and Newmark Knight Frank would cut certain compensations because of the faltering economy and the dismal commercial market. It was speculated, too, that CB Richard Ellis would soon follow its rivals.

Turns out that’s true. Dan Geiger of Real Estate Weekly reports:

A source told us that the company adjusted the split for junior brokers so that the firm nets a little more than half of their commissions.Previously brokers in this income category had split their commissions evenly with their respective firms. High earning brokers will also be impacted by the commission changes.
CBRE Joins Cushman, Newmark in Cutting Compensation