Who are the Best 100% Commission Real Estate Brokerages?

Are you a licensed real estate agent researching the best 100% commission real estate brokerages to join? I will detail out what questions you should ask yourself and what you should look for in this important career decision.

_{This article is written by Jared Dalto, a Florida Licensed Real Estate Broker at Luxury Real Estate Group. We are a Florida 100% commission real estate broker. For just $19.99 per month, $99 to close a sale, and $49 a rental with NO mandatory transaction or processing fee.}

Is it all about the money?

Although earning the most amount of money per closed transaction may seem important, it may not be the best choice for a long-term relationship between you and your brokerage.

• Are there any mandatory transaction or processing fees you have to pay? This could add up very quickly and may have to come out of your pocket. This means less overall commissions.
  • It is not mandatory at our brokerage.
• Do they have a monthly fee?
  • We are only $19.99 per month.
• Is E&O insurance included, or do they charge you per transaction or one time per year?
  • We include it.
• Can you get paid at closing? Disbursement authorizations are sometimes provided by the broker to you so you can have the closer pay you directly at closing. This authorizes the closer to cut your check and pay you directly. This is much better than waiting for your broker to receive the check, deposit it, and issue your commission.
  • We pay you paid at closing.
• Do they have office space? Most agents do not need office space to do their job. For those that need office space, it will likely mean a higher fee to get your 100% commission.
  • We do not have office spaces and are 100% virtual.
• Do the best 100% commission real estate brokerages hold escrow? In today’s world, most brokerages prefer not to hold escrow. There are plenty of title companies and law offices that will hold escrow. This should not be a primary factor in your decision.
  • We do not hold escrow.
• How many agents does the broker have? This is directly related to service. Many agents may mean you cannot reach your broker.
  • We only take experienced agents so we can have time for our Realtors.
• Do they charge penalties for violating their policies and procedures?
  • We do; it’s $99 but have only charged it 4-6 times out of thousands of transactions.
    • This is directly related to how easy your broker is to work with. Think about it. More agents and less time for you can lead to less patience. Less patience means less understanding and more penalties to you.
• Do they provide esign functionality? How do you get your offers or listing agreements signed? Maybe you already use an esign program and don’t depend on your broker for that.
  • We provide esign.
• Do they provide leads? If you are an experienced agent, you likely obtain your own leads. If you are a newer agent, you may want leads. There will be a commission split if you are provided leads by your broker.
  • We provide leads through Opcity (Realtor.com). They are the ones who get a referral fee. We do not charge you anything.
  • You will earn a tremendous amout of commissions working with us. Why not start getting your own leads with the extra income you make?
• Will your 100% commission real estate broker have in-house title? Many do have this, and others do not. The question is, what does it do for you? This can mean convenience, and of course, they will hold escrow.
  • We have in-house title.

What other decisions may affect your choice?

A large brokerage with lots of agents is worth talking about again. The larger a 100% commission real estate broker is, the bigger the possibility you can be among some bad apples. Obviously, they are not you but, it can mean you are associated with a brokerage name that has a bad reputation. You should search the brokerage online and see if there are complaints. A virtual real estate broker may try to hide behind having no office. Others will have great reputations in the real estate industry.

How long have they been in business?

Most of the time, the longer a real estate broker has been in business, the more they are able to provide great customer service to you. They have the systems in place to handle inquiries from agents and close transactions timely and get you paid.

Do they send your 1099’s at the end of the year on time? Are they calculating your commissions correctly? Knowing how to do these things comes with experience.

What about the name?

A name can mean a lot. It’s difficult to find the best 100% real estate commission brokerages that have great names for real estate. Do you want to be with a brokerage that has an odd name? What about the name of the broker? Maybe it’s just a random word and Realty or broker after it.

• We are Luxury Real Estate Group. In my opinion, this is one of the best names a 100% commission real estate brokerage can have. This includes you as a Realtor. We help people buy and sell the most expensive thing they typically ever buy or sell in their lives.

Conclusion

Finding the best 100% real estate commission brokerages can be labor intensive, and you should know what the pros and cons are. I’m happy to help if you have any questions. For agents that work in Florida, Luxury Real Estate Group is one of the best.