What Distinguish 100% commission from Brick & Mortar Real Estate Brokerage?
In the last few years, there has been the arrival of a new real estate brokerage model because of the internet. Brick and Mortar real estate companies have strong business models that allow their agents to conduct business. That made their agents dependent on their brokerage to function. Now in the age of the internet, free apps, free YouTube tutorials, and free this-and-that. Old school brokerage companies have nothing attractive to offer their agents. By which they take a large piece of the commission. Many agents are still working for the brokerage companies and feed the monsters. Because they don't want to leave their co-worker friends and the safety of their cubicles.
Now a day, a new type of realtors believes in an online brokerage that allows them to be independent and the ability to keep all their commission. Keep all their commission by only paying a flat fee per transaction. this is what distinguishes the old and new real estate brokerage. " It's too good to be true", "It's only a fad", etc.
When you see the high-tech logos and slick websites. If the commission split is not in bold somewhere on the first page of the website. I can bet you it's not a 100% commission brokerage. If a company hides the fine print, then it’s not going to be their selling point!
Most of the companies seem to be 100% commission virtual real estate brokers but if we look deeper, it usually proves different. Some of them complicate you in their fee structure and add-on fee. What the big print gives the small print takes away. Few companies are actually 100% commission brokerage. Agents only have to pay a flat fee of %595 of their commission per transaction. At the time of joining, make sure to look close before trapped by the bright light.