HOMEiZ Real estate technology, The Real estate social network (HOMEiZ.COM)

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Rainmaker
4,314,823
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

I think the statement you made is what we referred to as a glittering generality!

In working with both agents and brokerages, what happens is that brokerages forget who their market is...they ignore the agents wanting to make themselves the go to brokerage.  This is why some smart companies are taking care of their agents instead of taking advantage of their agents, and that is a big difference.  A

Jun 11, 2019 04:20 PM
Rainmaker
680,694
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

I'm a broker owner. My split is 100%
My EXPENSES are 100%
My LIABILITY is 100%
My ACCOUNTABILITY is 100%
My FREEDOM is 100%
I love it!
The business models are infinite in number. If you don't like one, pick another. The beauty of our biz!

Jun 11, 2019 05:15 PM
Rainmaker
4,870,348
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

no....I'm old school.... every broker/owner deserves some type of split.... I'm on a 95/5.... my broker gets 1% and RE/MAX of New England gets 4%.... others in the office are on a variety of splits....the lowest is 60/40.... most are 80/20...

the broker has all the liability.... he deserves to make a piece of every commission....

Jun 11, 2019 04:10 PM
Ambassador
3,186,417
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

I have a lower commission split than I had when I was a broker/owner!

I'm absolutely fine paying them the minimal commission split that I do. They take amazing care of their agents and are highly technologically advanced as well.

#NoComplaintsAtAll 

Jun 11, 2019 08:50 PM
Rainmaker
442,931
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

As the Broker/Owner I am at 100% commission

I also am resaponsible for 100% of my marketing and other expenses.

Like Candice A. Donofrio I'll just say DITTO

Jun 11, 2019 07:15 PM
Rainmaker
911,232
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

You're quite wrong in your broad statement title, otherwise CB, KW, C21 and so on would be out of business. You're quite right that a large group of agents do not feel the split is justified, I was one of them.

That said, I do not pay a split, I pay an a low annual fee and done. I quit CB to work for Big Block because of the 0% split.

Jun 11, 2019 05:47 PM
Rainmaker
5,264,663
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I had a 100% commission plan with RE/MAX for about 20 years. This is nothing new for high producers.

Jun 11, 2019 05:03 PM
Rainmaker
3,168,586
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

!00% is a figment of the imagination. Keep dreaming for some. Others face reality and make a choice!

Jun 12, 2019 05:19 AM
Rainmaker
552,514
Peter Mohylsky, SoWal Is HOME.
PrimeSouth Properties - Santa Rosa Beach, FL
Let me help you find your path to the beach.

Not at all. There is more to the business than focusing on technology 

Jun 12, 2019 03:22 AM
Ambassador
4,056,637
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

I get more than my value from our brokerage, these people are amazing and I think they should be paid more.

Jun 11, 2019 07:23 PM
Rainmaker
2,942,272
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

If you are an agent and you want 100%, then become a broker. Then know you get 100% of the exenses and 100% of the liability. This profession is a mix of tech, knowledge and old school marketing and salemanship. Remember the tech boom?> it was followed by a tech crash

Jun 12, 2019 05:26 AM
Rainmaker
2,975,713
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I hate generalizations like that. I've worked both models and I've not had a problem doing a split when with the right brokerages. And I'm quite happy to pay a split to turn over lots of liability to the brokerage. Then there is the value of the brand name... can't quite quantify that.

Jun 12, 2019 05:07 AM
Ambassador
2,179,028
Wanda Kubat-Nerdin - Wanda Can!
Prado Real Estate South - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

That is a broad stroke there Homeiz. Many brokers do earn their split, mine does anyway. Now, new agents should pay a high split to brokers that make themselves available, provide ongoing training and answers any/all questions.  

Jun 12, 2019 04:55 AM
Rainmaker
1,564,805
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

No. Having worked for several brokers and having been a broker there is a lot of good to be said for a broker who provides a brick and mortar storefront and quality advertising.

Jun 11, 2019 06:51 PM
Ambassador
1,612,049
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I do so much love the Seigel's answer. Couldn't have said it better.

Jun 11, 2019 04:22 PM
Rainmaker
733,341
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

I'm happy with the split I have with KW and can reach 100% of commission during the year

Jun 12, 2019 07:33 AM
Rainmaker
1,505,617
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Not true. It's the brokers that don't do anything for the agent that are having a hard time. Everyone has their hand out in their paycheck.

Maybe the agent should do a check & see how much their broker provides?

There's a joke about FEE/MAX for a reason. I've been with them forever & that model is hard to deal with sometimes also.

What's heavy on tech?

Jun 12, 2019 05:31 AM
Rainmaker
984,759
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

No 1 broker by WS selling billion dollars a year are doing that right now while showing clients homes in private planes.

Some loan agents are offering 100% rebate on purchase.  I tell prospects if you are looking for basement bargin take a hike... Go away. 

Jun 12, 2019 05:15 AM
Rainmaker
2,896,275
Richard Weeks
Dallas, TX
REALTOR®, Broker

I've worked both models.

Jun 12, 2019 04:51 AM
Rainmaker
417,271
Greg Cremia
Shore Realty of the Outer Banks - Nags Head, NC

I never had a broker who earned their split regardless of the amount.

Jun 12, 2019 04:29 AM
Rainmaker
522,918
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

I think you get the most bang for your buck as a new agent at a large office with lower splits. As a Rookie I got good advice & had a few sales a year that I could attribute to C21. After less than 2 years in the business I knew I was doing more for us than our Broker & it made complete sense to go to an Independent agency where we've thrived since '08. 

Jun 12, 2019 07:22 AM
Rainmaker
692,837
Richard Bazinet /MBA, CRS, ABR
WestUSA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

I think you are about 6 to 7 years way behind the times.... at least in my market. It's all very old news.

A brokerage is a vendor that provides you with a range of tools and services. That's what you rent. And there's tom of them in all flavors. You always have the option of going solo and do your thing.

Jun 12, 2019 06:25 AM
Rainmaker
743,812
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Now, let's get real. The BROKER always gets paid. The schemers, if not taking a split will plunder and pillage under a different label such as transaction fee, desk fee and even flat fee. All bad things in real estate originate with the broker. Remax advertises a 95% split.  What do you think?

" brokers that focus heavily on tech are going to take over the industry and will change dramatically the brokerage business model.."

This is a surrogate endpoint and has little to do with a conscience decision of the broker but a compelled decision imposed by the consumer.  The broker is getting it half right and depending on 'glitter' so the real issue is not discussed.

All decisions made by broker and the fellow conspirators result in limiting agent options regarding protecting those who hire them. Big tech spending is simply an evolution of the increasing difficulty agents will experience in making connection with the consumer.

 

Jun 12, 2019 05:11 AM
Rainmaker
2,704,337
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

HOMEiZ.COM HOMEiZGROUP it depends on the broker and the agent.

Jun 12, 2019 03:04 PM
Rainmaker
382,677
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

My clients are my agents. If we are not servicing them well, they have many other options. We have to stay cutting edge in order to keep our agents happy and productive - and see that what we are all for is their success.

Jun 12, 2019 01:47 PM
Ambassador
1,620,589
Alan May
Coldwell Banker Residential - Evanston, IL
Helping you find your way home.

from the response you've received, thus far, it appears that your opening statement (and thinly veiled recruitment attempt) is fataly flawed.

I'm among the group that is happy to pay a split to my brokerage, due to the vast amount of value I receive from my affiliation with them.  Commission split, in and of itself, is not my driving force regarding my belonging to a brokerage.

I want my brokerage to get a decent split from me in order to keep them financially healthy, and to help them see a value in keeping me around.

Nice try, though.

Jun 12, 2019 09:59 AM
Ambassador
2,849,880
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I don't let other people's business models concern me.  I'm doing me.

Jun 12, 2019 09:56 AM
Rainmaker
1,211,254
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

There is a lot that goes into running a brokerage that most agents have zero clue about because they lack the entrepreneurial mindset.  Do they think the building, desks, utilities, cleaning crew, E&O insurance, liability insurance, workers comp insurance, transaction coordinators, training, counselling are free?  The Broker takes a big risk with every agent they employ (yes, they EMPLOY the agents) and SHOULD be compensated for it.

 

Expenses are much more than the clueless agents think.  It's also NOT the Broker's job to spoon feed leads to agents.

Jun 12, 2019 08:59 AM
Rainmaker
651,711
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I am satisfied with my arrangement.

We shall see if there new models stand the test of time.

Jun 12, 2019 02:28 PM
Rainmaker
1,027,287
Valeria Mola
SIB REALTY - Sunny Isles Beach, FL
305-607-0709 SIB Realty

No, it is not me.

Jun 12, 2019 01:34 PM
Rainmaker
1,521,836
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Yup and our next step if that doeesn't work is to open our own shop again

Jun 12, 2019 10:48 AM
Rainmaker
2,764,161
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

I am not. I left the dog and pony show in 2012 and became an independent broker. 

Jun 12, 2019 07:54 AM
Rainmaker
614,532
Debra Leisek
Bay Realty,Inc Homer Alaska - Homer, AK

no offense but i dont think you have a clue... you are working for a media group a zillow want to be or something... social media networking. 

You have a really negative opinion of our business Im not sure why you are here. But I wish you well 

 

 

 

Jun 13, 2019 12:12 AM
Rainer
55,882
HOMEiZ Real estate technology
HOMEiZ.COM - Agoura Hills, CA
The Real estate social network

I do thank all of you who responded to the question.With all due respect to each answer that was given here, brokers who offer the 100 percent commission are more attractive to real estate agents nowadays. I cannot generalize, of course not.The main issue for many agents choosing a broker, is the commission split.I have been in several offices during my career as a real estate agent and must say that, most of the brokers were not even present at the office. They only came to the office for that weekly meeting we had.I personally did not find any good reason to split the commission on top of paying the desk fees.Also one issue to pay attention to, as the commission for selling homes is diminishing from 6 to 5 and now I see even 4 percent, the commission split will become an even more of an issue to real estate agents. 

Jun 12, 2019 10:43 AM