I was just wondering if BTSA is also included in your split with your broker?

It depends on your agreement with your broker! I have had a broker where BTSA is 100% the agent's and one broker where BTSA is included in the normal split.

What are the advantages and disadvantages of forming an LLC Real Estate Company? Is it worth it?

An LLC is one way to structure a company formed within the state. A "normal broker owned company" is still a company structured within state guidelines. Every company is registered with the state. You may not be seeing the full name recognized by the state, they may be using a DBA (doing business as) but even a Broker has a company structure set up. I have an LLC, but my design company's DBA to the public is Michele Marano & Associates. www.MicheleMarano.comThere is much to learn about company structures. You can go to the state of Texas website and look at company types and structures.