In just the last several years there has been an influx of new real estate brokerage models. What's with all the fancy schmancy new style brokerages and why ? First I'll address the why; In the past real estate companies had monopolies on proprietary technology that enabled agents to conduct business, which made realtors dependent on their brokerage to function. Now in the age of free apps, free YouTube tutorials, and free this-and-that, there is no longer anything that the
Being one hundred percent internet commission brokerages are just now hitting the scene in California, the garden variety real estate agent I run across is fearful of the business model. People are fearful of what they do not know, it's the human condition. I want to address the typical objections I get from agents when approached with the opportunity to keep all their commission. Before I go there I need to preface this article, noting that before I became a broker and st
"Why aren't all real estate companies one hundred percent commission brokerages ?" Excellent question ! In fact, that was the exact question I asked myself that led me to create my 100% Commission brokerage. Here's the genesis of how it all began; A couple of years ago I was taking a sabbatical from real estate having done REO hot and heavy for 5 years as an agent. One day an acquaintance called me and asked to represent him on a transaction. Not wanting to pay the huge exto
Another excellent question, and the same question I ask myself every time I see some hapless realtor driving around with a logo on their car (that they paid for themselves) advertising for big block real estate company, and if you look real close you can see the agent's name in small font somewhere on the ad. Maybe it's the entrepreneur in me, but when I see an agent spending their own money and effort to advertise someone else's company I am beyond bewildered. Well actually
In Part 1 of this blog we discussed the current demise of the old school traditional brokerages and the rise of the 100% commission internet brokerages. In Part 2 here we will explain in detail exactly why the brick and mortar brokerages are collapsing. I am quoting below from the book: Death of the Big Box Realty. The old—school big box realty franchises are dying. Agents don’t want to work harder anymore; they want to work smarter. They don’t need the corner offices and l
Its official, 100% Commission flat fee virtual online real estate brokerages are here to stay - and they are growing lickity-split ! And now the big box companies; Coldwell Banker, ReMax, Century 21, etc, are dying and no longer able to keep their younger tech savy agents, as these agents know that these brokerages are not able to give them anything that they can get themselves online. Therefore there is no longer any reason to cough up a big chunk of their commission for so
At first glance most " one hundred percent " flat fee virtual online brokerages " all seem the same. You hang your license with them and pay only a small flat fee per transaction. But let's look a little deeper and see how much some 100% commission brokers actually charge and how they structure their commission splits. On the surface some real estate companies appear as if they are a 100% commission fee structure, but a few more clicks into their website and somwhere in the
Why should I join a one hundred percent real estate brokerages, for other than the obvious reason of keeping all my commission ? If keeping all your money isn't enough reason to join a flat fee brokerage, below is a Top 10 List of reasons agents join a virtual online real estate company: 1) Finally be your own boss. As a real estate agent you don't "work for" a broker, the broker is supposed to work for you. 2) No driving to work 3) No mandatory meetings 4) No makeup 5) No w
Nowadays if you take a look inside any real estate office you will find it mostly void of agents, becaue most realtors now work from home. ..Why is that ? The internet has leveled the playing field of available information, so now old traditional real estate companies really no longer have anything to offer agents that requires them being part of an office or brokerage. Which is why giving a large part of your commission away to a broker is no longer necessary ! Empty real e
But, but I thought Re/Max paid the highest commission ? In this blog we're going to compare a one hundred percent commission virtual online flat fee California brokerage to RE/MAX. Ok, now that I got my keywords out of the way, onto the article. Many realtors believe RE/MAX is a 100% commission brokerage. Lets take a close look and maybe do some Re/Max bubble popping and see if that's really true. Let's start off mentioning that new agents at R/M start out on a 50/50 split.
In following blogs I am going to post the commission differences in flat fee 100% commission brokers to the commissions the large corporate brokerages; Keller Williams, Coldwell Banker, ReMax, Century 21, etc.. take from their agents. This blog will be on Keller Williams. The following information is copied from an inman article where the CEO of KW spoke; "The commission split that Keller Williams offered agents is a hybrid of that offered by traditional franchises and 100
A one hundred percent commission flat fee agency is great, but what about training ? Some new real estate agents try to reason that working with a traditional style brokerage and paying thousands and thousands of dollars of their commission, is for the training the old school style brokerages offer. At CURB we've got that objection covered. We provide one-on-one teaching for our Realtors, specifically how to market themselves and stand out from the sea of other Realtors, Al
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