Things You Should Know About Joining a 100% Commission Real Estate Brokerage

If you are considering a move or beginning a real estate career, you want to think about going to a 100% commission brokerage where you earn more money. This opportunity is the one that will allow you to put more money in your pocket and become more successful faster.

If this sounds like the choice for you, take a look at the benefits of joining the team, and becoming a 100% commission broker.

Benefits of Joining a 100% Commission Real Estate Brokerage

The first consideration to look at when considering your future in the real estate industry is to do the math. With a traditional real estate brokerage model, you are looking at splitting your commissions from 50% to 80% with the agent depending on the company you work with.

Some 100% commission brokerages work on a flat per-transaction fee, but the fees are not the same for each. While some 100% commission brokerages work on the flat fee, others charge lower fees along with an additional charge monthly, such as charging for desk use. Other brokerages may charge an annual fee. While there are these fees, they do not add up to a large amount of percentage splits done with the traditional brokerages.

Another benefit of joining a 100% commission real estate brokerage is that modern technology, such as DocuSign has removed the paperwork outside of the real estate office. This improved system enables real estate agents significant independence as they no longer have to rely on typical office infrastructure and support.

Another benefit of joining a 100% commission real estate brokerage is you have public access to MLS data so you are not tied to working with a traditional real estate broker. The monopoly these brokers once held is no longer valid. Much of the MLS data can now be accessed from private websites. Today, both buyers and sellers have access to MLS data online.

One of the most popular benefits of joining a 100% commission real estate brokerage is being able to perform your work at home. Offices are not needed for meeting clients, and online access is available giving you almost all the essential tools you need.

Considerations When Deciding to Join a 100% Commission Real Estate Brokerage

When considering your options in a real estate career, you will want to look at what individual brokerages have to offer you. Some companies will offer you more benefits than others, such as:

• Costs

  • There are different fees charged with different brokerages. The most common fees include:

    • Yearly fees

    • Flat-fee closing costs

    • Yearly fees

  • Each of the above options has its pros and cons depending on your production level.

• History

  • A lot of new real estate brokerages close within two years, as many startups do not consider all of the overhead costs involved when compared to the income they will bring in. Reserves often dry up and shortfalls happen, leaving the broker with no other option than to close the doors. You want to be sure the brokerage has the history behind it to ensure it can withstand a bad market as well as the good one.

• Hidden Costs

  • You also want to make sure you understand or learn whether or not there are hidden costs involved with your transactions. Typical hidden costs can include:

    • File Review fees

    • Training fees

    • Administrative fees

    • E&O fees

    • Compliance fees

    • Technology fees

    • Franchise fees

• Insurance

  • E&O (Errors & Omissions) Insurance coverage for a brokerage and its agents is mandatory, however, not all of them have policies that offer the same benefits. Look at the brokerage insurance policy when considering your move, such as:

    • Deductibles

    • Exclusions

    • Coverage amount

    • What is covered

    • Insurer representation

    • AOP (All Other Perils) coverage

  • You want to look for ultimate protection for your future. Seek low deductibles and high coverage.

Other areas you will want to consider include the support you will have available, and the technology available to perform your job. When you become a 100% commission broker with a brand name brokerage, you are starting out on the right path to a great future.

A 100% Commission Brokerage Offering You a Successful Future

Stanfles Realty is a 100% commission brokerage with premium office locations. We look forward to you joining our team and getting yourself on the path to a successful real estate future. We offer you the chance to work with the only 100% commission brokerage in California that gives you access to branded offices 24/7. Call today and learn how you can join a winning team that is expanding globally and get started with a new, exciting, and more profitable real estate career