100% Commission Brokerages - Too Good To Be True ?
Ok, now that I got all the keywords out of the way so you can see this enchantingly informative article, we can now begin;
Myself having been the quintessential cynic, I can relate to the "too good to be true" adage when coming across that anything purports 100% of anything. We can all attest the 100% phrase has been used to death. A few real estate brokerages are now stating that their agents can actually keep one hundred percent of the commission. Yes there are some real estate companies that do use the 100 percent commission phrase loosely, where the agents at the end of the day really do not end up with 100% of their commission. What the large font gives, the small font takes away ! While I cannot speak for them, for informational purposes of this article I can assure you that in fact our brokerage does allow the agents to keep all of their commission.
Let me explain where in the case agents do keep all of their commission how it actually works. When a transaction is ready to close the broker sends escrow closing instructions to the title company instructing them how to disseminate the commission to their agent. In CURB's case, the escrow company actually sends the entire commission check directly to the agent - as opposed to the old school brokerages where the money is first sent to a broker who gets his hands on it, and then takes out whatever splits, charges, & fees the agent is required to pay. And whatever is left over after all the fees are taken out, the broker then eventually cuts a check to the agent for the balance. Again, for informational purposes of this blog, the way it works in a true 100% commission model brokerage, as with CURB, the agent after receiving 100% of their commission merely pays a small transaction fee of $595 for the broker for overseeing the transaction, as required by law.
So to answer the question regarding title of the article, no 100% Commission Brokerages are not "too good to be true" (at least with our brokerage). <-- I would put one of those obnoxious winking emojis here but my blog software doesn't have that feature)
If you do want to actually keep 100% of your commission and be truly independent I encourage you to take a serious look at our full service real estate company CURB - Tennessee's Premier 100% Commission Brokerage.
Ronny Santana - Broker / Owner
Tennessee's Premier 100% Commission Brokerage
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