Brett Young
REALTOR®
Cleveland Metro Income/Investment Real Estate
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Uncategorized | 41 Posts
November
4
4
Understanding Brokerages can make a HUGE Difference in Commission
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Brokerages are the key to your success as far as how much do they take out of your check and what do they give you for that?
I've been with 6 brokerages in the Cleveland metro area and understand the differences of those brokerages and that's what I'll be talking about.
I've noticed a lot of differences brokerages agents are taught to do the traditional work ethic of making phone calls and door knocking and sphere of influence. With only about 20% of Realtors actually making it in the business that doesn't seem to be a good plan.
I'm with Key Realty now and I really like being with them as I only have a $5100 a year cap that I can break down at $425 a month. Why is that so good? Why not just pay it all upfront?
For the producers out there $425 a month is just one transactions if you have 2 to 3 transactions a month you get 100% of your money for those transactions for that month. So for example, I had about 10 transactions this month that I only paid on the first one and I got 100% on my commission there after.
The benefit that Property Management and growing my business, too much higher commissions and profits and repeat business from having a Property Management.
As a beginner Agent Key Realty allows couple ways to let you expand your business by being on a team or getting a mentor. Team structures are different in the way they break down their commissions, but the mentorship program only takes 30% of your commissions. Compare that to a lot of the bigger brokerages that take as high as 70% for their traditional training.
Commission structure in a brokerage is huge and the marketing in that brokerage is also important. I've always had my own marketing company, which does very well, but I also have CRM with Key Realty that I use a lot to create leads. Learning the marketing aspect of real estate can really explode your real estate business.
Understanding brokerages can make a big difference in commission. I just brought on three new agents who couldn't believe that once they paid the $425 a month. The other transactions are 100% of theirs to keep.
Also with Key Realty , I like is after you pay your $5100 plus $249 a year there is no other fees. That means that every transaction after that there's no E/O insurance they take out. I do over 100 transactions a year so that really saves me a ton of money. In three months since I've been with Key Realty I have saved over $4200.
So brokerages can make a huge difference and what you make for your real estate business. It's important to understand that because the more of the brokerage takes the less you make. You also need a team that will teach you how to market real estate business to be different than the other 80% that fail in business.
Need the details? Or go with the 80% failure rate of the traditional way to do your real estate business.
Call me 216-703-5740 Key Realty and Property Management
You need updated successful ways to create your own successful real estate business.
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