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American home shopping has evolved as a result of technology. Today, buyers may explore listings, find houses, and focus their search without ever contacting an agent.
Although technology has made it possible for homebuyers to complete all of this research independently, in most situations they are still required to work via brokers to complete the transaction. The standard commission rate for agents, which was common decades ago, is 3%.
The ability of a person to drive sales is defined by their digital footprint since the strength of social networking has shifted it away from corporate real estate brokerages to the individual.
These days 100 commission real estate has started allowing their agents to have 100% of their commission. The best part is there are no hidden fees or no large transaction fees. They will offer something to every real estate agent even a new agent.
It may sound a little ambitious, but obtaining 100% of your commission is the way to go. If you decide to switch to the 100% commission model, you should prepare for the following:
- You will now work for yourself
- You may not have access to any training or resources from your broker
- You may have to pay for your posting ads, home showings, etc.
In this new business model, brokers may charge a small fee as there are only less moving pieces and overheads that are kept to minimal.
Due to advanced technology, you can find software for real estate brokers that can help you manage the entire transaction yourself.
The following are a few reasons why this model is getting popular among new real estate agents.
- Opportunity to establish a brand of your own
- Sales training is provided only if you want it, and not when the broker arranges it
- Total transparency will be present between you and the clients
The real estate industry has reached a point where salespeople who promote their own brands that can be rather difficult. In fact, traditional brokerage franchises are ill-equipped to give today’s agents the tools they need to generate leads or launch a profitable web campaign, which is why going it alone makes sense.
The only thing keeping real estate salespeople bound to a brokerage firm in the era of personalized marketing is a lack of creativity or a fear of failing. And unless you put a lot of effort into developing your online brand, you are probably going to fail in both situations.
It takes time for a company to gain customers’ trust and establish itself as an authority, but, unexpectedly, doing it online does not take as long.
Going it alone for an agent considering the 100% commission model implies that every good sale is a right to boast about, and since perception is important, perhaps a guy with just 10 successful sales can manipulate their numbers to appear much more successful.
In the end, 100% commission models are simply too attractive to pass up, and given current market conditions, it won’t matter which company you work for if you want to succeed. Instead, focus on creating your own online brand. You can operate as a virtual business with all the freedom that entails no physical offices are needed.