Once you complete all necessary certifications and pass your test, you can officially call yourself a real estate agent. The next big step you need to take is selecting the right broker to help sponsor you. To help you decide, today, we will discuss how a 100% commission real estate broker compares to a traditional brokerage. Even though it might feel like you are working for yourself, the law states you must work on behalf of a broker. This decision can dictate the direction of your professional career, determining your overall growth rate and the size of your paycheck.
Most real estate brokerages always seek talented agents to help build their teams. However, there are many differences among brokerages in terms of ethics, operations, and structure. You must ensure you take the time to find a brokerage that is ideal for you and your professional career.
When doing your research, you will come across several commission models that offer different advantages to agents. While you can always take the traditional route and choose a basic commission split model, you can also consider joining a 100% commission real estate broker that allows agents to earn more money.
Traditional Brokerages: How Do They Work?
In a traditional brokerage, commission splits play an essential role in determining how much money a real estate agent can make. These commission splits generally range from 60/40, 70/30, or 80/20, depending on which brokerage you choose.
All agents must understand how these commission splits work when comparing brokerages and evaluating their potential income. Since commission splits can significantly impact your take-home pay, you must carefully consider the percentage and negotiate to reach favorable terms.
While a higher commission split might seem more attractive at first, it is also vital you weigh the level of support and quality of resources provided by the brokerage. Some brokers may also offer additional support for marketing, training, and administrative assistance to help their agents succeed in their careers.
Understanding How A 100% Commission Model Works
While many agents are okay with working under a traditional commission split structure if you want to keep more of your hard-earned commission, consider joining a 100% commission real estate broker. These brokers allow agents to keep 100% of their commission (minus a small transaction fee) instead of splitting it.
Most 100% brokerages don’t offer office support to their agents. This allows them to keep their overall expenses down so they can easily pay out 100% commission. As an agent, you will be responsible for your lead generation, marketing, and administrative tasks. However, at NB Elite Realty, we offer all our agents high-end training and support to help them build their businesses.
Our founder broker, Nebo Bandovic, has years of real estate experience and can easily guide you to success in no time. Not only do we allow agents to keep 100% of their commissions, but Nebo will also teach you how to use all that extra money to invest back in real estate and earn long-term profits. Want to find out more about our firm? Contact our team today for answers!
NB Elite Realty: Your Pathway to a Successful and Rewarding Real Estate Career
At NB Elite Realty, we pride ourselves on offering our agents all the support, training, and resources they need to be successful in the field. Once you partner with us, you will no longer have to worry about fulfilling quotas, meeting deadlines, or stress about achieving financial freedom. Whether you are a fresher with little experience or a senior real estate agent tired of splitting their hard-earned commission with their brokerage, NB Elite Realty can help. We have over 1000 agents working across the country! If you want to learn more about NB Elite Realty and how our program works, call us at (844) 444-6237 or visit our website today!