100% Commission Real Estate Brokerages- The Six Points Realtors Should Look For

Real Estate is one of the most profitable businesses in today’s world. People are continuously looking to expand their assets with a considerable return, therefore there is a never-ending need of real estate. Unlike other investments such as stock, bonds, etc, real estate is less variable and more consistent. Real estate Brokers try to attract Realtors with many different types of offers. One concept that many brokers are implementing these days is the “100 percent commission model”. But beware, often there are other hidden fees or restrictions that agents might not realize until it comes time for their first closing. Here are a few things to remember while looking for 100% commission in Real Estate Brokerages.

1. Check the Terms and Conditions: Before signing your independent contract agreement with your Broker go through the terms and conditions. Do not get lured in with the “100 percent commission” model without asking the right questions. Check each and every point thoroughly, and even ask for the policy and procedure manual. This will help to avoid any confusion or conflict in the future, while still being able to get your 100 percent commission.

2. Check the Company Culture: Along with the Company name and brand, the work culture of the company matters most of the time. A good company with good work culture not only gives you 100 percent commission but also gives you 100 percent work satisfaction. Therefore, make sure find out if they have any restrictions on how you advertise and promote your business. Do they have a company logo? Are you allowed to modify it?

3. Check Your Future Goals: Signing a deal with the company for just 100 percent commission would not be a good thing if you do not look at the future perspectives of the company. Are you locked in for so many months once you join, or are you able to cancel anytime if you are not happy? If you do leave, can you take your listings with you? Make sure that you check all the details and not only think of today but also look for the future plans for yourselves.

4. Look for Support and Services: It would not be beneficial for you if you do not look for future support and services from your Broker. Do not get lured with the 100 percent commission and sacrifice your future support and services from the firm. How fast do they respond to your questions? What are their hours? Can you get email responses or do you have to wait on hold for long periods of time to speak to a real person? In the long run Services and Support from your Broker would be really beneficial for you.

5. Check for Complaints: Doing some research can save you from big disasters. Have there been any discipline or reprimand records on the state website about the real estate company? Do they have any testimonials? You can also check out the better business bureau to see if there are any complaints. Therefore, it is necessary to do some research check on the real estate brokerage.

6. Look For Hidden Fees: Some real estate brokerages will say they have a 100 percent commission model but will then have hidden fees to your clients, or to you. For example, a broker may charge an additional fee to your client (buyer or seller) such as a $300 transaction fee at closing which you may not notice until you see the closing statement. Or they may charge hidden fees to you (such as Errors and Omission fees). So make sure you ask if there are any other fees to your or to your clients, and if E&O insurance is included.