Thinking Of Joining our Team?
We are always looking for talented individuals who are interested in learning about the Real Estate industry.
We invite you to bring your skills, expertise, and aspirations to help make a difference in the lives of tens of thousands of families, as we transform the experience of home-ownership across the state.
At Skyscraper Agency, we’re all leaders, whether we’re leading ourselves, others or the business. To support one another’s growth as leaders, we offer tailored development opportunities.
You will read that many Real Estate companies offer 100% commission to the agent, but with monthly fees Plus $400 to $700 each transaction side ( if you are a buyers agent and a Seller Agent on the same transaction that’s double on the Transaction Fee)
How 100% Real Estate Brokerages Differ
A 100% commission realty also requires looking at what individual brokerages offer. Some 100% of companies provide more benefits than others.
Consider these pros and cons when deciding to join a 100% commission real estate brokerage:
Real estate markets constantly change. Over the years, some markets experience fast growth while others slide into a downturn. Then, the climate changes making some markets hotter than others.
Today’s hottest property markets may turn cold tomorrow. The ability of a real estate brokerage to weather the storm during downturn times matters.
According to a recent report, many new real estate companies close within two years. Others keep floating through the good and bad times.
Will the 100% commission brokerage you think of joining provide stability?
100% commission real estate pros and cons also consider costs.
As explained above, not every 100% commission real estate broker charges the same fees. The three most popular fees include:
- Flat Fee per Closing;
- Monthly “Desk” Fee; and
- Yearly Fee
Each option has its pros and cons depending on the agent’s production level.
Do the math based on your past year’s commissions compared to each broker’s fee structure above. Then, you will know which option works best for you.
3. Hidden Fees
100% commission real estate pros and cons also consider hidden fees.
Here is where the biggest difference between realty brokerages shows. The hidden fees need to be explained before jumping ship from one brokerage to another. Typically hidden fees include:
- Administrative Fee
- Compliance Fee
- E&O Fee
- File Review Fee
- Franchise Fee
- Technology Fee
- Training Fee
Do the math. Add up what each 100% brokerage charges you as additional fees.
Also mentioned above, is the fact that new real estate brokerages often close within two years. Many startups don’t take into consideration all of the overhead costs compared to income. Shortfalls occur and reserves dry up leaving the broker with no alternative than to close the doors.
Inquire about the history of the brokerage to determine whether they withstood the bad market times along with the good ones.
Stability over a long period of time counts heavily towards predicting future success.