A Real Estate Commission Calculator: Comparing Apples to Apples With Your Brokerage
To get to the point - I created a Commission Calculator so agents could compare one of their commission statements with how I think real estate agents should and actually can get paid.
Check out the Calculator here.
After 20 years in the real estate industry, I've determined several commonalities - I call them Pain Points. And they may vary during different stages of their career.
There are 3 common Pain Points.
PAIN POINT #1. LACK OF EDUCATION & TRAINING - meaning the agent need more offerings for real estate topics. And usually agents need education and training tailored to their current issues.
PAIN POINT #2. LACK OF A SUPPORTIVE MANAGING BROKER. Maybe their broker isn't there for them when they need questions answered. This is a time sensitive industry, and it can be stressful not knowing the right answer to - say - a contract question when you are writing a contract at 8 PM on a Sunday night.
But, often, the BIGGEST pain for a real estate agent is #3.
PAIN POINT #3. COMMISSIONS. What is the commission split for the agent and what kind of hidden fees are there? Some agents pay their brokerages $30,000 a year just to hang their license with a brokerage between monthly dues and splits. Even with 100% brokerages - it isn't really 100%, after franchise fees, hidden administrative costs and fees. It's discouraging to take home a really low commission check, after a brokerage takes all their fees. It's crushing. It's de-motivating. And it makes you question why you got in this business to begin with.
That is why I started my own brokerage - to address these Pain Points directly and also, by offering:
$99 Monthly Dues
$495 Transaction Fee (Includes E & O)
For new agents, I offer a coaching program for new agents with less than 5 deals, with an Up and Running in 8 Weeks Program.
I believe in transparency. I believe in sharing knowledge. I believe in training agents and supporting agents, so that they can in turn, support their clients properly.
It's a very simple philosophy. It's not about me. It's about you. You don't have to have diminished service from your brokerage just because your monthly fees are low and you get 100% commission.
If you think it's too good to be true - ask any of my agents or any of the agents that I've trained over the years. I have extensive knowledge in many facets of real estate - and I want you to learn it. I want you to serve your customers - the buyers and sellers of this world - to the highest level.
I am looking for agents like you that want to learn and want to keep more money in their pockets.
If this is of any interest to you, let me know and we can chat over coffee. I'd love to hear all about you.
Kristin Bushnell is Designated Broker of Bushnell Real Estate Solutions and Co-owner of Bushnell Craft Brewing Company in Redmond, WA. Check out my bio here.
If you are ever interested in chatting about real estate, contact me at email@example.com or call me at 425-559-1355. I'll buy you a beer (or non-alcoholic beverage, if you prefer!), and we can chat about real estate until your heart's content.