It was my plan, since the thought of becoming a Realtor ever crossed my mind, that I would be a Century 21 agent. Century 21 was, after all, the gold standard of real estate. The name was as golden as their yellow blazers. And that was important to me.
So I got my license and I joined Century 21. I will never regret this. As with most things in our life, even when we move on to other things, we still look back and can, hopefully, find the reasons why this path was helpful, and many times, as in this case, necessary, to help you be the person you are today.
My first broker is, to this day, a man I respect and appreciate. He had experience, and was willing to help anyway he could. He also knew that balance of when not to help and to allow me to feel as though it was my own business. He allowed me to sit in on his listing appointments, and he gave me my first two deals as a co-lister and held my hand through the listing appt, the measuring, the CMA, and the delivery. Once I had completed my first few deals, he allowed me to soar on my own, yet always making sure he was available for help any time I needed it. He encouraged me to get my GRI and take the CRS classes, and get involved in our local association. I am so thankful I started with him. He gave me such a good, solid, foundation of knowledge in this industry, and also about the business of doing GOOD business in real estate.
Throughout my years at Century 21 I was asked to meet with brokers who wanted to recruit me to their company. I have always believed in hearing people out and keep an open mind to opportunity. For many years I heard nothing that made me want to leave the wonderful broker with Century 21. My broker knew that my ultimate goal was to put a Century 21 franchise in my town which was actually about 20 miles away from his office. He told me all the good, the bad, and the ugly of being a broker and owning a franchise but also gave me his support at whatever I decided to do. But before that dream could become a reality, another broker bought the Century 21 franchise in my town. It will be a few decades before my town would be big enough for two of the same franchise, so I let go of the idea to own the franchise and continued on with being a Realtor for C-21.
One day I sat down with a RE/MAX broker who told me their model of paying a desk fee ($1200 per month at this particular office) and I could keep 95% of every commission. That sounded much scarier than my current situation at Century 21 which was 8% off the top of every commission check, then $45 subtracted for E&O insurance, then a 50/50 split with the broker. Yes 95% was unfathomable and exciting, but to have to pay $1200 every month?! Well, I did the math from the prior year transactions, and sure enough, if I had paid $1200 per month for the year, but then got to keep 95% of my money, I would have actually kept aproximately $28,000 MORE THAT YEAR! My Century 21 broker had recently implemented a graduated scale, but even with that model, the most I would ever make was 80% and it can end and go back to 50% to begin the climb again, over and over. It was evident, it was time to make a move.
I tearfully, gave my broker my letter of transfer, as he was like a father figure, that I had become so fond of over the years. It was hard, but it was best for me now, I believed. He hugged me and I was on my way to RE/MAX.
Not believing in doing anything half way, I quickly became dedicated to the big balloon. I considered getting a red, white and blue, balloon tattoo. (I'm kidding). And the first 8 months of year one was pretty good. And then, in my area, the market did not glide down- it crashed and burned! The news was showing people beating on the windows of their banks begging them to release their money. People were losing their 401-K and retirement money! Buying CEASED! And for the next four months I had absolutely no closings. I wrote 3 contracts that fell through due to the newer, more rigid standard for borrowing (needed a long time ago- I know). Point is, this $1200 per month fee was now horrifying! Concurrently with realizing I was going to struggle to pay desk fees sans commission, I also was realizing that in the town I lived in I could never put a RE/MAX office. This model for high desk fees and high splits would not make Realtors run to my small town to do their business.
I began researching companies. I did not want to go back to a 50/50 split, nor graduated scale. and I did not want the high desk fees to keep more of my money (by the way, since I never had an office in the town I lived and worked in, I ALWAYS worked out of my home office, yet I paid an office fee of $1200). I had a feeling that other Realtors, felt the same way. I knew several other models of real estate companies, and none of these deviated much from these two that I had experienced.
My reasearch led me to Connect Realty.com. A completely NEW model for how to treat the Realtor who is bringing in the money and doing the work. It is a company that focuses on technology. I looked to see the split. The company pays no less than 80% ALWAYS! If you are completely green, in other words you have not completed at least 5 transactions, in your life, then you will have a 70% split for the first 5 transactions while you complete a training class online. You do not need a brick and mortar office. There are no desk fees. There is a one time $199 fee to join, however this fee is only $15 until April 15, 2010. And Connect Realtors pay $29.99 per month for their technology which has a suite of services including your own website, virtual tours, showcase listings on Realtor.com, training and more! You also have the incentive to recruit and build up residual income that will continue even after you retire for as long as your recruits are with Connect. You will make a 5% residual check from anyone you recruit into the company (up to THREE levels deep), and you do not have to be a broker to recruit and get paid. You don't even have to be from the same state as your recruit. My sponsor is in Washington state, and I live in SC.
At this time Connect Realty.com is in the following states: Arizona, California, Florida, Idaho, Illinois, Nevada, Texas, North Carolina, Oregon, Pennsylvania, South Carolina, Wisconsin and Washington. And they are adding several more states this year.
Mentoring and helping people is what I live for. I am building my team and am looking for Realtors who enjoy being independent. Connect Realty.com has helped me feel like I own my own company yet I do not have those franchise fees to pay and high overhead costs of an office. I have been with Connect Realty since October 2008 and I love it. They were innovative in recognizing that the Realtors now have everything they need at home. They don't need a broker taking so much of their money to do what they can do for themselves. As a friend of mine put it, Connect Realty is like Robin Hood, taking the money from the brokers and giving it back to the Realtors.
If you would like to know more about the benefits of joining Connect Realty.com please feel free to contact me.
PS...My first broker, the one who is like a father figure, recently let go of his Century 21 franchise.
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