As an agent, the vast array of brokerages to choose from can be overwhelming, especially if you’ve just passed your exams. We’re sure you can vividly remember all the recruiters who came into your class to bribe you with pizza; all in exchange for a sponsorship that will either result in you giving up a large sum of your commission, or leave you utterly alone with no support. Find out and see if a discounted, or full-service real estate brokerage is for you.
Full-Service Real Estate Brokerage
Think of the major real estate companies out there. Many of these brokerages are considered full-service real estate brokerages for their extensive training, support, and technology. They have awesome referral programs, which give you a chance to make passive income. Full-service real estate brokerages generally charge a commission split, transaction fees, and extra fees.
The Downside
Keep in mind, the biggest con to a full-service real estate brokerage is the hefty commission split and fees. A lot of your hard-earned commission will be broken off for the brokerage. When you know how much you could be making versus how much you’re actually getting to keep – it can become daunting. At times, agents don’t have the freedom or flexibility they need, especially if they’ve been in the business for some time. Production requirements, mandatory meetings, monthly and desk fees; they become exhausting.
Discounted Real Estate Brokerage
These kinds of brokerages are lesser-known, and can be categorized as “boutique.” They customarily charge low fees, and have a small, or 100%, commission split. They also don’t charge the fees you would encounter in a full-service real estate brokerage, like monthly or desk fees. Also, discounted brokerages are commonly more lenient with their rules. They may not have any floor time or production requirements. These brokerages are great, as most importantly, they save agents an immense amount of money and time. This type of brokerage can be beneficial to a seasoned agent who really doesn’t need hand-holding, or in-depth training.
The Downside
Discounted real estate brokerages typically opt out of offering any support or training. Unlike full-service real estate brokerages, they pretty much do the bare minimum, which is simply hanging your license. For newer agents, this may not be the best route to go. Newer agents need proper training and mentorship. Not only because it helps them ease into the business smoothly, but proper training also makes sure they are going about their business according to the rules. If there is no accountability, that’s how trouble arises.
Which is The Better Option?
All things considered; it simply depends on what your needs and goals are. If your most important need is to save the most money possible, a discounted brokerage is the way to go. If you like guidance and prefer a more hands-on approach, a full-service real estate brokerage is your best bet.
Discounted, Full-Service Real Estate Brokerages Exist!
There is good news. Some brokerages that offer the best of both worlds actually exist! NB Elite Realty is a full-service real estate brokerage that offers its services at a discounted price. We’ll hang your license without charging you unnecessary fees, provide exceptional support, offer state of the art technology, and still give you 100% of your commission at closing. We sponsor over 550 agents in Texas and Florida. See why so many agents have made the switch to NB Elite Realty!
Contact us Today!
Start on your journey to financial freedom by calling 844-444-NBER (6237), or by emailing info@nbeliterealty.com.