For years, many real estate agents have left the traditional office model of paying 20%-50% of their commission to the brokerage. These agent go to brokerages that charge agents a flat fee instead instead of a percentage of the commission. This flat fee commission arrangement between brokers and agents is what is referred to as a “100% commission brokerage.”
Once a real estate agent decides that the 100% commission brokerage model is right for them, they have several options to consider when choosing the right brokerage.
Does the agent want to pay monthly fees? Many 100% commission real estate offices charge a monthly fee, but some don’t.
Is errors and ommissions insurance included in the flat fee or is is paid separately? Find out if the E&O fee is included in the flat fee or paid separately, If it is paid separately find our how much and how often.
Is there a workspace or conference room to use?
Is there any sort of application or initial fee to start with a 100% commission real estate brokerage?
Can you buy or sell your own home as a real estate agent with a 100% commission real estate brokerage? Some brokerages have rules against this and require agents to use another agent within the brokerage to represent them on their own home sale.
Is there broker support, and how often is the broker available?
These are the basic questions that should be asked by any prospective agent looking for a 100% commission real estate brokerage.
Balboa Real Estate does not charge monthly fees. Errors and ommissions is included in the low flat fee.
To find our more about our 100% commission brokerage, please CLICK HERE