Money, money, money

Money is always a tricky subject to broach. When it comes to commission plans or structures in the real estate environment, transparency is vital. Far more than a buzzword, it’s a trend that’s here to stay. Why bother? Because transparency provides clarity and levels the playing field for colleagues if you’re working for a brokerage.

If you’re working for someone who pays full commission, there is no friction or tension around money matters and you can focus on getting the job done. Branding and growth leader Wendy Forsythe conservatively estimates that 10 percent of close to 1.7 million members of the National Association of REALTORS® hold their license with a brokerage that offers a 100% commission plan. Yet she expects at least half of them to be working for what she calls “a 100% company” 10 years from today.

She says that most traditional brokers can’t offer a fair value exchange for the split they earn on commission. It’s a very different world now and real estate agents have to plug into a range of technologies to enhance operational efficiency and service. Agents can be the hero of the deal and do everything the client needs in a real estate transaction simply by buying the right bundle (of software) for a small fee. It’s a wise business decision.