100% Commission Plans – Eagle Realty
There are a lot of brokerages in real estate that you could affiliate your license with and grow your realtor career. They have a lot of different structures, plans, and cultures. I have preached over and over again about finding your fit as Realtor so you can optimally grow your career and your success to the best of your ability. A win-win situation is something I am always looking for when interviewing agents for our team, and i think that mentality needs to be on the agents side as well when looking for the right real estate company. Not all companies and brokers are the same. I will say that again, not all companies and brokers are the same.
Over the years that i have been in real estate and owned Eagle Realty, an independent (non-franchise) brokerage in North Myrtle Beach, SC I have seen and studied a lot of franchise and independent company commission structures. As our industry evolves, certain structures can not stay the same. That is a given. We can’t get stuck with the “this is always how we have done it” mentality. Our real estate industry evolution also means i have seen a lot of innovation in commission structures and plans offered. Most companies have an across the board policy, but there are still many that will negotiate one-on-one with agent for a unique plan just for them. The increase in real estate teams under brokerages also has given rise to new compensation structures that need to be addressed and adjusted to keep teams happy and create a win-win environment for that team to stay with a company instead of starting their own.
I say all this to point out a couple things to think about when starting or growing your real estate career. First, don’t settle. If you don’t like the structure, ask about it and see if it is changeable. And if not, as around to other realtors and brokerages. Explore. Like I said, not all companies are the same. Know that and do some research.
Secondly, commission structure is not everything. It could be the best split or transaction fee plan in the world. But if the office, culture, broker suck. Or you get no support, training, or resources (and you want those things), it makes no difference how much you get to keep of your commission if you’re not making sales. There is more to a successful real estate career than commission. But, it is wise to realize that the more commission you keep, the more you can re-invest into your business for growth. You are running a business. Revenue is important, but there is more than just that factor when growing a long lasting and successful business within a real estate company/brokerage.
Lastly, 100% commission plan options should not be overlooked. They exist in many forms and i believe should always be an option to agents. Whether in the form of cap plans or transactional fee models, I believe (and Eagle Realty agrees) that an agent should have the opportunity to keep 100% of what they work hard for. Now, we all need to run a growing and successful business, both the Realtor and the Brokerage. But I believe with the right structuring there is the ability to create a win-win commission structure for everyone. So a question you need to ask yourself is, “do I have access to a 100% commission plan for my real estate business?”
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