The theory of 100% commission is not entirely new but its gaining momentum in mid markets like ours here in Indianapolis. The thought behind becoming a 100% commission agent is to reduce the ongoing fees associated with being with a particular brokerage and instead of paying for expensive office space and unnecessary services, you pay for critical services the help develop and grow your business and brand. Its basic math and streamlining what you already know as a busy agent. So below I will tear into a few of the ways a 100% commission agent will succeed with WKRP Indy and specifically how they can stop funding an old way of doing business through the traditional big box brokerage model.
Office Space – This is a big one to me because not only is it expensive for agents, its a waste when you could be putting that money back into your business. So lets say you pay a brokerage $20,000 per year but the real value is the beautiful office in the corner. That is $1,666.67 per month you are spending on an office. That much rent could lease you a store front or large office suite to build a team around your business. Better yet, spend $300 per month on a nice office and use the remaining dollars for marketing and team development. That’s a lot of money that’s just being given away.
Income – Yes its still paying a broker a part of your revenue but whether you sell a $140,000 house or an $800,000 house you only pay a flat fee of $600 per transaction to your broker. This encourages the sale of higher end homes as well as high volume of mid and low price homes. Say you sell 25 homes a year with the average close price of $350,000. If you are paying a broker 20% or about that you will pay over $50,000 to your broker. Now lets say you pay $600 per transaction and that’s it, you will pay $15,000 to your broker for doing the exact same amount of business. There are many variables to this equation but Can you imagine taking home an extra $20,000 – $35,000 per year just by being smart about your expenses? This also gives the agent flexibility to be competitive in a diluted market chasing the same listings
Team Building – To sustain a business in selling homes it typically requires building a team of agents with each having a specialty or task. When you work with WKRP Indy and their flat fee program, the focus is not on the brokerage or brand but on the agents and their teams. We will help structure and train support staff and team members exactly the way that best fits your business and future growth. Relying on a large brokers staff to support your specific needs is not an option but building a custom system around your long-term goals is the only way to grow your brand and business. Monthly training meetings and roundtables create an environment of learning best practices for Realtor growth.
Indie or not – The ultimate goal to many agents to is become independent and own their own real estate company but many enjoy being a part of something bigger them. WKRP Indy flat fee program caters to both and can offer the same great training and development to a team seeking to learn the way of starting their own Independent brokerage or to a busy Realtor that wants the ongoing business development and marketing training that WKRP Indy has been so successful with in the past. We can train an active broker in 24 months how to brand himself or herself and build the support they need to go at it alone. We can also help the long-term agent build their own brand but at a substantial savings over the typical big box national brand.
WKRP Indy Real Estate was originally started out of a need to provide exactly what an agent wanted to build a strong real estate business and focused on themselves not their brokerage brand. We are passionate about teaching Realtors to own their own small business and become independent from any outdated systems and especially stop paying high fees with very little or no return. We would love to talk with you about where you business stands today and find a solution to help you grow your Real Estate Brand. Please fill out the form below and we will be in contact immediately to help you make the next move to becoming a 100% commission agent.
Curt has been in the Indianapolis Real Estate business for over 10 years and spent his first years learning all aspects of commercial management and brokerage. He has had great success in managing existing commercial projects and new retail and office developments. Curt specializes in building owner representation and purchases in the Westfield Indiana market as well throughout the Indianapolis Metro area. Curt is passionate about growing the local Westfield community and in his free time volunteers with Westfield Youth Assistance and raising 2 children with his wife Jennifer.