Put all understandings in writing...

There is no right or wrong way to partner. The important thing is that you reach an agreement, get it in writing and then agree to review it at a certain date.

I worked in such environment, we distributed our responsibility from start, but occasionally backed up one another. I actually really like working as a team where you are partners. 

I haven't found one yet and I've tried two with partnership agreements and attorneys, etc. Alliances and teams work better for me. I have both and they work fine more than 6 years now.

I am not a fan of equal partnerships, best to have one in charge and responsible.  While still taking advice and frequent input from the junior partners.

Partnerships have about the same Success Rates as Marriages !

Model that is most successful?

The one that results in only one cook in the kitchen.

Power is the most difficult of all things to relinquish. Remaining relevant, by asserting power, can be disruptive, if not destructive to what must be a harmonious enterprise.

Which business model is depend on the vision that is guiding then. Is the vision to capture as much of a newbie agents $12,000 or to create transaction architects? These models do not coexist.

The most successful business model is the one that works for the two brokers. I'm not a big believer in partnering this way... have seen it not work more often than work.

Sometimes two R's work well, disastrously, or somewhere inbetween in the real estate Bermuda Triangle match up.

       Have an attorney put everything in writing.  Have your CPA and/or attorney advise you on what best business entity (LLC, LLP, etc.) you should use.

It depends on the two parties, the agreement between both parties, the personalities and so much more.  Each situation is different.

I'm with Debbie Reynolds on this one!

Afraid I can not add anything helpful to this question but I will read the other answers to learn more :-)

That you have everything in writing so all parties are in agreement.

I do not know.

I have not seen this before, but a good contract in writing between the two is a must.

I had to partners and neither work out longer then 4 years.

As a general partnership with no scorecard and full trust.

I'm with Paul S. Henderson, REALTOR®, Broker, Tacoma Washington put it all in writing.  Too easy to miss-interpret or miss-remember later.

Outside of that, I have no experience in this arena.

What works best is everything, everything spelled out in writing, lots of communication and open discussion and it helps if the partners have complimentary personalities, talents, etc.

Money & power bring out some recessed and unplanned responses. Get them out before the partnership takes risks....

Whatever the model ... success depends on the two individuals ... their commitment to the partnership.  I have yet to partner with another agent or broker and truly have it work out ... seems that I end up doing all the work and shelling out half the income. 

test the scenario without marketing yourself as a partner.... do that for a year and split the business, if you have the same work ethic and work separately....both partners need to be productive...not a lopsided partnership..

if it works well, then reduce it to writing with the help of attorneys....

I have thought a lot about this, as i am so busy and ready to grow. For me who lists more home sthan i work as a buyer broker, partnering with a buyer broker would be a good fit. Someone with a good work ethic and loves real estate, no complainers. 

William Piotrowski Paul S. Henderson, REALTOR®, Broker, Tacoma Washington summed it up nicely.

Put it in writing and let the sponsoring broker review and approve!

I would follow the KW model--read the book

I think it can vary greatly by the individuals involved and their circumstances.

As in any business arrangement or partnership there has to be an agreement in writing, stipulating in detail the terms of the agreement.

The one that works the best.

Paul S. Henderson, REALTOR®, Broker, Tacoma Washington nailed this one!

A written agreement with a clear understanding.

Personality first, ability second.

Most is fussed over the commission split.  I tell anyone wanting to join it is negotiable.  Some even scrabble over who's name should show up first.

Often one can compliment over another broker on skills,  marketing etc. I have seen one running the office while the other is out making deals or expand the business....

Whatever works for them - be sure the business "marriage" is in writing AS IS THE "DIVORCE!"