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What is 100% commission real estate?

100% commision real estate is a name for a low cost real estate brokerage model for agents. Instead of the traditional percentage fee of a real estate agent’s commission paid to the broker, also known as a commission split, a nominal flat fee or annual fee is paid instead.

As an example, an agent earns a $9,000 commission. In a traditional commission split the agent might pay 30%  to the brokerage ($2,700), but in a 100% commission model they would pay a flat fee, such as $600.

To put it a very simple way, a 100% commission real estate brokerage charges agents less of the commission they earn. Agents typically pay a flat fee, sometimes a monthly fee in addition, or sometimes a simple pre-paid annual fee, instead of a broker split.

The 100% commission model has become very popular in the last 10 years, but the concept is actually decades old.

So why has 100% commission real estate become such a mainstream brokerage model?

The answer is technology. Paperwork is done through services like Docusign or, at the very least, scanned and sent through email. In the past, listings weren’t accessible online, whereas now MLS data is accessible from a multitude of websites. Given that all the tools for agents and their clients need are online and can be accessed remotely, there is less of a reason to have an office to go for client meetings. More agents work from home offices and don’t need to contribute a large percentage of commission for office-related overhead that they don’t use.

Find out more about Balboa Real Estate’s 100% Commission Model HERE

 

 

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What To Look For in a 100% Commission Brokerage

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

 

 

 

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Advice For Part-Time Real Estate Agents Looking For 100% Commission

Maybe you are looking to ramp up your real estate business, whether you’re just starting out or have been in the business for a while. Some of you may be deciding whether to focus on residential or commercial real estate. Of course you’re considering which real estate brokerage to join.

Have you asked yourself whether to work full time or part time as real estate agent? If you are considering working as a part-time agent it might be probably because you don’t want to quit your full time job yet for whatever reason. You can work as a part time real estate agent but it will be difficult to achieve the success in this industry without the help of a team. Working by yourself will be very difficult to effectively represent your client who are asking professional advice in buying or selling real estate properties.  For new agents, joining a real estate team has good benefits. Joining the right team that doesn’t charge agents some high split can save part time real agents a lot of money.

One of the benefits of a brokerage for a part-time agents is to have a reputable team behind them. With reliable associates and a company supporting you, clients will feel more secure with you and as an agent becaus ethey are getting all the company resources.

Another advantage of joining a real estate team where you can work part time is the ability to have your manager meet your client on your behalf. There are situations you cannot avoid like when you need to bring more expertise to the meeting or need a team member to help you market a property. This is when having a team to help a part-time real estate agent is beneficial.

So, if you are a licensed real estate agents in California or Florida looking for a real estate company to join, Balboa Real Estate gives full service real estate brokerage with professional affiliates all over the state. Whether you want to specialize in residential, commercial, or land transactions. Remember that part-time real estate agents are eligible for our 100% commission plan.

Contact us to see if Balboa Real Estate is a fit for your business.

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Balboa Real Estate: Your Real Estate Future Starts with Us

When you got licensed as a real estate agent, it was extremely important to decide which broker is best to work with and get trained. A strong start at the beginning of your career from a 100% commission broker will make a huge impact for those who are new to real estate field. Some larger and renowned brokers, like Balboa Real Estate, offer an extensive training programs to new real estate agents. Before joining a real estate firm, it is important to check certain factors like the business image, environment, size and so on. Let’s have a look at what you as a newly licensed real estate required to know about a broker before giving interview.

Size
Size does matter. In states like California, where you can find companies which range from 10 agents to hundreds of agents. It is important to be. With a real estate company with the best commission program and statewide coverage. Always consider to join a reputable company with statewide coverage that gives the support that you need while working.

Facilities
Facilities are important and one of the more important factors to look for. You surely  don’t want to take your clients in an office without basic facilities. Its important to check whether broker office has basic amenities like computer, fax machine, copier, adequate parking space, etc.

Management
Management of the broker company is as important as you contact with potential buyers. In large company, salaried managers will be in your primary contact list while in small real estate company, owner of the company will manage your work. It is your duty to ask about how many full-time and part-time agents the company have. How managers will manage the work of all agents and how they all will communicate.

Training
As a new in real estate field, it is essential for very real estate agent to get trained under experts who have decades’ experience in real estate field. Broker companies should offer training for their new agents. It is important to the principals and fundamentals. For example, how to write purchase agreements, you will learn about real estate law and contract law, how to finance real estate, how to list property for sale, and how to evaluate real estate property. Proper guidance and training is important to get for acquiring skills in such areas as negotiating and sales techniques.

Administrative Support
In many real estate company, brokers handle MLS listings and processing of paperwork transaction. Ask account department about how long you will get your commission after closing the deal.

Recognition
Your personal goal determines how successful you can become in real estate. Making money is goal of every real estate person, but you should get recognition for your achievements from your broker or the real estate company for which you are working. Successful real estate companies recognize their top agents.

Balboa Real Estate is looking for agents to join their team on a 100% commission basis. There is no need to pay the monthly or yearly fee. Just pay a transaction fee and we provide training and guidance from experienced real estate professionals. successful

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What a Real Estate Agent Should Look For In a Brokerage

What a Real Estate Agent Should Look For In A Brokerage

Choosing a real estate brokerage could be tough for agents who wanted to make sure that all their efforts in finding buyers are all worth the commissions they are getting. I know because finding and prospecting clients are not easy as pie, unless you are an elite and a very experienced agent who had already built brand and connections in real estate industry, you have to go certain measures to turn that inquiry into a closing sale.

If you have a license and whether you are new or professional real estate agent, one thing you need is a real estate broker to run your career. Sure, you can pick any brokerage you want, but remember that in order for an agent to be successful, there are few important factors a new real estate agent needs to consider about their brokerage.

There are two important factors an agent should consider when searching for a real estate company to work with:

Commission

Real Estate agent commissions have different types, the split commission and the 100% commission. Example of a split commission is s 70/30 or 50/50 percent agreement between the real estate agent and the broker. The split commission may or may not yet include the broker’s fee because fees vary from broker to broker. Additionally there may be franchise fees or separate error and omissions fees. Whereas, with 100% commission, a real estate agent would take home the full commission and only need to pay a transaction fee like broker or office fee.

Balboa Real Estate offers 100% commission to both new and experienced agents with just a very small fee in every transactions starting from only $99. No start-up fees or any other fees are required for any licensed real estate agent in California to join the company. When considering other companies, make sure to find hidden fees there are in addition to a transaction fee.

Support / Marketing Training

There is more in a brokerage other than the commission. Another thing that a real estate agent would look for when finding a broker is their marketing support. A good working environment, support and tools available in the office are mostly newer agent need to run their business.

A good working relationship with your company and a healthy environment as a whole means more sales and more commissions. That’s why Balboa Real Estate offers both 100% commission and marketing support for agents to perform exceptionally.

Depending on which real estate career you are in right now, choose a broker that is worth all your hard-earned money. Contact us to find our more about 100% commission. 

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Grow Your Real Estate Career At A 100% Commission Real Estate Brokerage

The journey of real estate agent is a most rewarding journey and can be a big reason for stress too. There are many decisions you have to take that can change your entire career path. As a new real estate agent, finding the best brokerage is difficult. Real estate is business is relationship oriented. Successful business can come from referrals and past clients, which a new agent typically doesn’t have.

 

For your starting years as a real estate agent, you have to do hard work and earn your business through efforts ranging from door knocking to cold calling expired listings. Such activities take a lot of time and to pay off. Sometimes agents have to go months without any single commission check. Therefore, it is essential to choose the right brokerage from the beginning of your career as a real estate agent.

 

When you start working as real estate agent, it is important to you to see whether the brokerage is good to fit you or not. In this process, it is important to discuss over commission splits, training support and lead generation. If you are a recently licensed real estate agent, then joining the right a 100% commission real estate broker can expose you to a long list of client base and help you to grow your real estate career. Therefore, it is essential to find a 100% commission real estate broker that offers you the opportunities that help to enhance your career, where you can learn new marketing techniques, selling techniques, and very importantly allows agents to keep most of the commission they earn.
Doing online research of 100% commission real estate brokers will be your starting point from which you can do the broker search. By calling them or visiting their office or website, you can inquire about whether they are recruiting new agents or not and what fees they charge. Pay attention to all the fees that these companies will add on or that might be hidden. It is also important to check whether such companies have social media presence or not. A successful broker has a presence on different social media websites like Facebook, Twitter etc. and has an attractive website. You can check reviews and testimonials about such a real estate company.

 

It’s always a safe bet to join a real estate brokerage that does not charge agents any upfront fees when you start a real estate career. Brokerages have different mentoring programs that will help you shape your career. You will get specific tips that will improve your insight into real estate world. Check the members of their team, how long their members shave been with the company, and what are their areas of expertise and experience levels. All this information is usually available on real estate brokerage’s websites.

 

Balboa Real Estate is welcoming new real estate agent to join their team online through their website. We do not charge start-up, monthly or quarterly fees. You need to pay only one low flat fee that is only due at closing. For more information about our 100% commission structure, Please Click Here.

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Not all 100% Commission Real Estate Brokerages Are Equal

The trend of 100% commission real estate brokerages is now well-established. Even big franchise names like REMAX and Coldwell Banker have been seen offering 100% commission. For agents comparing brokers to work with.

100 CommissionIt’s important to note that 100% commission real estate brokers can be very different.

The first important factor to understand is that 100% commission real estate brokerages almost always charge a transaction fee. In fact, 100% commission real estate is just rebranding flat fee per transaction brokers. This means you should ask what flat fees are charged by the broker.

The next important factor is that many of the 100% commission brokers charge a monthly, quarterly fee, or even an annual fee too.

Other fees that 100% commission real estate brokerages charge include a key fee, errors & omissions (also called risk management), document storage, and sign-up fees.

These are fees you should ask about when interviewing a 100% commission real estate broker.

Other questions you should ask include:

  • Are agents paid directly by escrow or does commission have to go to the broker first?
  • Is there a conference room or workplace at the office or is the company completely virtual?
  • What other benefits are agents entitled to?
  • Is there an in-house transaction coordinator?
  • What Realtor associations are they a member of?
  • What are the hours of broker support?

These are just to name a few.

Remember, there is an abundance of 100% commission real estate brokers so take your time to determine what a good fit is.

 

 

 

 

 

 

 

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Real Estate Agent or Consultant?

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We’ve all seen the real estate agents that call themselves consultants rather than agents or salespeople. The reason is blatantly obvious, and a little cheesy, but there is actually a higher Real Estate Consultantlevel and deeper meaning than these real estate consultants may have ever considered.

Let’s face it, the title “salesman” has a bad connotation. People that are in sales squeamishly change their title to something like account executive, account rep., and the sales department has been rebranded as the business development team. Real estate agents would never call themselves salespersons on a business card, and to put their title as “real estate agent” strikes some agents as cold or generic. However, “consultant” is much more elegant. It just has a ring to it that that suggests a knowledgeable advisor.

Top producing agents don’t sell homes like most salespeople sell products. A home is an extremely dynamic and personal product, consumers already have in mind their needs. Their preferences surpass what they will ever tell their agent.

This is where the title “consultant” rises to more than just a better sounding title and becomes the true sense of the word. Good agents deliver high quality data to their clients and educate their clients so they can rapidly make a sound decision. They don’t push homes onto people like most salespeople push products. Facilitating home sales is a matching and information game.

Top agents do have the qualities of top salespeople because both personality types are often charming, persuasive, and carry a purpose. These qualities are just used differently.

Agents sell their brand and character, then they get down to business and perform the work when contracted. Salespeople sell a product and use their brand and character as reinforcement to make the sale.

All top agents make good salespeople, but not all top salespeople make good agents.

Please CLICK HERE  learn more about joining Balboa Real Estate

 

 

 

 

 

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Are You Asking for Business?

Balboa Real Estate networkingI recently attended a focus group for the Irvine Company where they had a discussion on commercial rental properties. The attendees were either senior level managers or owners of businesses that rent commercial space. We all talked through moderated conversations about improving commercial spaces while our comments were recorded through a two way mirror. The reason I bring this up is because the ability to network was a recurring topic that came up as something important to these executives.  Going further, one business owner explained that he went to every business in his building and introduced himself with his business card – which actually resulted in business for him. He also mentioned that he attends all the chamber meetings and networking events like LeTip. Even though what this person does to network is not creative or innovative, he has a tremendous advantage over competition because most people don’t even make an effort to network this much. I couldn’t help but to ask myself how many real estate agents I know that network just as much as this person – and agents are in a much more competitive industry. The answer: extremely few.

 

Networking is a very plain, fundamental business concept that just about everyone knows is a good thing to do. However, it is terribly neglected. Real estate agency is a business of relationships. This means you needs massive exposure to people to form these relationships and build your network. This is one of the reasons you will see bad agents get business and good agents don’t. Top producing real estate agents know a lot of people and they ask them for business.

 

Do a self-analysis on your networking. How often are you meeting new people? What are you doing that is expanding your network base? Remember that it’s different then marketing. Marketing is usually a one-way form of communication. Networking is more engaging, mutual introductions, and an exchange of words. Ask yourself who your target demographic is and think of ways that you can meet more of them.

To learn more about our true 100% commission plan – click here

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Real Estate Training is Overrated

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One thing that all big name real estate companies offer as bait to lure agents to their company is real estate training.

Real Estate trainingThis is a gimmick, and here’s why:

It is a common misconception among agents that getting training has significant impact on their success. Generally speaking, training is a way for agents to act like they are busy doing something productive. It is easy to do, because training is force fed to agents by the trainer. The hard thing for agents to do is actually engage prospects and ask for business. Training, one way or another, detracts from the simple truth that unless a real estate agent is asking for and earning business, training is 100% irrelevant.

Certainly, getting trained on a few fundamentals is a good thing to do. However, it should be done in small and precise doses so that it doesn’t interfere with overarching goal of prospecting. Just remember that there is an overabundance of agents with knowledge and an overabundance of tools to help agents conduct a transaction, but there is a shortage of clients.  When you find a client that wants to work with you, there are other agents and tools lined up to help you through the process.

It’s important to train yourself on marketing because that will assist you in engaging with your target demographic. However, this varies greatly depending on what your niche is and involves trial and error as you prospect. Most “big box” training programs on marketing are sterile and too vague to really offer the value they advertise.

In the few cases where being trained on something becomes essential for your prospecting, there is a myriad of free tools from Youtube videos and webinars to resources with your local association of Realtors. However, rarely does training warrant the split or fees that most real estate companies charge with the justification of training.

For more information on our true 100% commission plan, click here.

 

 

 

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