Being one hundred percent commission brokerages are just now hitting the scene in Tennessee, the garden variety real estate agent I run across is fearful of the business model. People are fearful of what they do not know, it's the human condition. I want to address the typical objections I get from agents when approached with the opportunity to keep all their commission. Before I go there I need to preface this article, noting that before I became a broker and stared this business, I actually did a transaction with a 100 percent broker, so i am speaking for hands on experience from both sides of the coin.
I need to give 10% ~ 50% of my commission to my broker because the brokerage has name recognition.
That is the first line of propaganda the big house brokerages feed agents in order to instill fear of going it alone and leaving the obsolete brokerage system behind. Ask any past client why they chose their broker from the multitudes and you will be hard pressed to find one that says; "Because we liked the logo on their business card." What you will find is that real estate clients chose their realtor because they liked them. And because they liked them they trusted them. To further substantiate this, according to real estate trainer Tom Ferry, Google did a survey on why sellers chose their agent, and a whopping 76% was because they trusted them.
I pay a huge chunk of my commission to my broker because they have training.
Let's do the math on this objection; If you are a new agent you will probable do about 6 or 7 transactions your first year. If you're new you are probably on a 50% split with your broker. The average sales price for a home in Tennessee is $178,000. 2.5% of that is $4,450 x 6 transactions = $26,700 total commission. ÷ 2 = $13,350. How much personal training could you get with $13,350 ?
For crying out loud, the top of the line personal coaching program with Brian Buffini that gets you access to a personal coach is only $1200 ! You can have your own coach giving you the top of the line training available and spend the other $12,300 on some amazing vacations !
Keeping all your commission is too good to be true.
This one is super easy to overcome, ..it is true ! Only $595 per transaction + $95 E&O, all day, every day.
When it comes down to it, the objections to not take action are merely excuses for one thing; ..fear. Who in the world doesn't want to keep all their commission ? As mentioned earlier, many people base their decisions on fear. It's the human condition. When one makes their decision through the filter of fear, immediately their world becomes very small. Do not allow fear to paralyze you. Make a decision today to step out and truly control your own future and not work under the ceiling of limitations an old school brokerage model, or anything else in life for that matter.
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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