Please note that all capitalised terms used in these FAQs are defined in the
WeWork Broker Partnership Programme Terms of Service.
What information do I need to provide to register as a broker?
In order to register and start submitting client introductions, we'll need your full name, email address and phone number. In order to facilitate payment on any successful introductions, we’ll need additional information, inclusive of banking and tax details.
What information do I need to provide to submit an introduction?
In order to submit an introduction we need your client's full name, email address, phone number and city of interest. Additional information (e.g. preferred location name, company name, number of desks, etc.) will help us to speed up the process.
How will I know if my client introduction was successful?
You'll receive an automatic email notification from WeWork as soon as your client signs a membership agreement.
What is included in the Total Contract Value (TCV)?
Total Contract Value (TCV) is the net committed Membership Fees for the member’s commitment term up to any contractual early termination options as set forth in the applicable membership details form or the fee schedule in the membership agreement, net of any discounts. Note, the broker fee does not include custom configuration costs (if any), design or any additional services, as defined in the Member Agreement. TCV does not include any annual fee escalation amounts unless reflected in the contract fee schedule.
What is the rate used to determine the fees due for introducing my client to WeWork?
In order to calculate the fees due, we apply a rate to the Total Contract Value (defined in the below question and in the
Broker Partnership Programme Terms of Service. The rate used is dependent upon the location of the building where the referral takes space. (Note that all capitalised terms have the meaning set forth in the Broker Partnership Programme Terms of Service.) United States & Canada (USC) For New Business, Renewals and Expansions in the USC region, you will receive 5% of the Total Contract Value for the applicable transaction. Europe, Middle East, Africa (EMEA) / Latin America (LATAM) / Pacific For New Business introductions in EMEA, LATAM and Pacific region, the commission rate is based on the commitment length. If the commitment is 12 months or less, you will be paid 10% of the Total Contract Value for the applicable transaction, but as the commitment term increases, the percentage drops until it is at 5% for any deals 24 months or greater. For Renewals & Expansions within the same WeWork location, you will receive 3% of the Total Contract Value of the applicable transaction. A deal is considered an Expansion or Renewal if your client previously occupied at least one desk in the location. In the event a Renewal or Expansion occurs during the first 12 months of the Referred Entity’s membership, such Renewal or Expansion shall earn Fees at the applicable New Business rate until the Referred Entity’s 12th month of membership, and then receive the applicable Renewal, Transfer or Expansion Fee rate for the remainder of the Renewal, Expansion or Transfer term.
When will I receive my fee payment?
United States & Canada (USC) Once the membership agreement is finalised, you'll receive the initial fee payment within 60 days (provided we have all of the required broker details to facilitate payment). Europe, Middle East, Africa (EMEA) / Latin America (LATAM) / Pacific We require the member to pay their Service Retainer prior to paying the broker. Depending on the country where the Referred Entity takes space, we will either pay the broker or provide invoice instructions to the broker within 60 days of our receipt of the Service Retainer. If the applicable country requires brokers to send us a legal invoice, we will pay on net 30 terms upon receipt of an accurate invoice.
Will you contact my client without my knowledge?
WeWork will typically manage all communications with referrals under the WeWork Broker Partnership Programme, and you consent to these communications in the submission process by keeping the ‘I give permission to contact the referral’ tickbox selected upon submitting your introduction. If, however, you'd like to manage all communication for the referral with our WeWork sales team, you can opt out by deselecting the ‘I give permission to contact the referral’ tickbox upon submitting your introduction.
How are my fees calculated if the contract includes early termination options?
WeWork will calculate the fees due using the commitment period up to the first early termination option, if any. This will be paid upfront using New Business rates. If the member does not exercise the option to terminate, fees will be paid up to the next early termination option, if any, using the applicable Renewal rates.
Will I earn additional fees if my client expands at WeWork?
Yes, if you Actively Represent the client expanding at the same location, you will earn 3% or 5% of the Total Contract Value, based on building location (5% for US and Canada; 3% for EMEA, LATAM and Pacific). Additionally, if you Actively Represent your client in expanding into a new location, it will be treated as a 'New Business' deal.
Will I get paid additional fees if my client automatically transitions into a month-to-month commitment?
No, you will not be entitled to additional fees on a membership agreement that automatically rolls to a month-to-month arrangement after a commitment term has expired. In order to be compensated, the broker must Actively Represent the member in signing a new membership agreement.
Will I get paid on the annual escalation on the membership agreement?
We pay broker fees based on the Total Contract Value (TCV). TCV does not include any annual fee escalation amounts unless such amounts are reflected in the applicable membership fee schedule in the membership agreement.
Is there ever a fee cap on my commission?
Potential fee caps are determined by our regional terms of service. - EMEA: if your client signs a membership agreement for a building located in EMEA, your commission will be capped at the fee amount due for the first three (3) years of the applicable membership agreement. There are no other current fee caps.