If you are a real estate agent working under a traditional brokerage, you are probably splitting a significant amount of your commission with your brokerage. Your brokerage may provide you with a phone, courier, office space, and mail services in return for typical broker fees in NYC. You may also benefit from your brokerage’s advertising campaign, leads, and maybe a free coffee.
However, many agents find security in today’s modern real estate market by not paying for amenities or splitting their commissions. These agents simply wish to close a deal and walk away from a sale with 100% of their commission. If you agree, maybe it’s time to consider working under a 100% commission real estate brokerage. The 100% commission model allows real estate agents to keep full commission and offers several advantages over traditional brokerages.
Joining A 100% Commission Broker: Why Does It Make Sense?
Most experienced agents prefer to work under a 100% commission model rather than a traditional brokerage since it allows them to earn more money. Commission splits and typical broker fees in NYC can dig deep into your pockets, leaving you with less cash for a lot of effort. A couple of reasons why 100% commission brokerages have gained popularity among agents are technology and opportunities.
In the past, an agent had to be a member of a licensed broker to gain access to multiple listing services. These listings were only available to people with special access. However, now, this data is available online across various websites. This change makes it possible for real estate agents to find and meet potential clients anywhere as long as they can access the Internet.
Once you join a 100% brokerage like NB Elite Realty, you must pay a flat yearly fee (and a small transaction fee) to cover training, support, office space, and more. You will pay this flat fee regardless of how many deals you close in a year. Traditional brokerages, on the other hand, are designed to be very confusing. They will try to hide as much information as possible regarding your commission splits, payment structures, and fees. These hidden charges will result in you taking home much less than you earned. At NB Elite Realty, we are transparent, straightforward, and easy on your pocket.
How Does The 100% Commission Model Compare Against Traditional Brokerages?
Let us look at an example to show how NB Elite Realty surpasses traditional brokerages, enabling you to save more money over time. Let’s assume you are a real estate agent with total commissions worth $21,000 over a year. If you work with a traditional brokerage with an 80/20 split (typical broker fee in NYC), you will have to pay $4,2000 to the brokerage, leaving you with a total earning of $16,800.
Now, let’s consider the same example with NB Elite Realty as your broker. Since we work under a 100% commission real estate model, you will only have to pay an annual fee of $249 and a small transaction fee. Even if your total comes to $749, you retain $20,251, showing a remarkable improvement compared to the traditional brokerage scenario. This additional saving is a testament to our financial benefits and increased profitability, making 100% brokerage a clear choice for real estate agents! If you are tired of paying the typical broker fees in NYC and wish to maximize your earning potential, contact NB Elite Realty today!
Contact NB Elite Realty To Find Out More!
Our broker, Nebo Bandovic, has several years of on-field experience, which he will use to guide you through your professional journey! Nebo will also help you better utilize your commissions by teaching you how to find and invest in the right property. If you don’t want to invest in real estate, you can use all that extra cash to contribute to your client via reduced closing costs or a rebate. If you want more information about how a 100% commission model works or would like to know how it can help skyrocket your career, call our team at 844-444-6237 today!