Agents at the real estate network @realty are closing in on the ‘100 per cent commission’ goal in as little as seven weeks, as the unique model continues to gain industry traction.
The 100 per cent commission program allows agents to keep all of their commission after @realty has earned $20,000 (exclusive of GST) in service fees.
Prior to @realty earning $20,000, agents keep 93 per cent of their commission.
Licensed real estate and stock and station agent Jenny Magill took nine months to reach 100 per cent commission in her first year working for @realty.
In her second year it has taken just eight weeks.
“In my first year I was building up my presence and client base, so I had strong momentum heading into FY22 and that’s how I’ve achieved the goal in such a short space of time,” she said.
It should be noted, Mrs Magill is far from your ordinary agent.
The long-time Port Macquarie resident has worked in real estate on the Mid North Coast for the past 12 years, working in property management before progressing to sales.
She has sold everything from units through to houses and even farms.
“I had the vision that I wanted to specialise in selling farms. We have cattle, chickens, we’re beekeepers and we grow all our vegetables,” Mrs Magill said.
“So, I can sell farms particularly now during COVID-19 when people are really reaching to go into sustainability.”
Mrs Magill explained she has been highly impressed by the support on offer, after joining @realty in March 2020.
“The @realty team is amazing; they are professional and supportive,” she said.
“You send an email; they pick it up quickly and resolve things very quickly from (managing director) JJ Taylor right down. The platform is outstanding. I would recommend it to anyone.”
Mrs Magill said the benefits of the commission structure were twofold; helping agents get established when starting out and then enabling them to keep more commission once they reach the 100 per cent benchmark.
“It allows you to be competitive with your commission to get up and running and then once you’re established you can charge more,” she said.
“Once you hit that $20,000 mark you can earn a very good income and keep all the commission you earn.”
Northside Brisbane specialist Patrick D’Arrigo said colleagues can’t believe the commission he earns at @realty.
This year he hit the $20,000 goal in just seven weeks.
“The ability to earn 100 per cent commission doing something that you love is fantastic,” he said.
“I have plenty of friends that work for the big brands and a lot of them are on the old school 50/50 split.”
Mr D’Arrigo has been in the industry for the past five-and-a-half years, including the past two-and-a-half years with @realty.
“The @realty model intrigued me upfront,” Mr D’Arrigo said.
“You have the support if you need it and can run your own business. You have the flexibility to tailor your services to clients without any road blocks.”
Mr D’Arrigo said the past year has been a “dramatic” one for the industry, with numerous sales records set.
“The past 12 months we have had the pleasure of getting great results for 80 sellers with more than half of the properties setting sale records for their streets,” he said.
Managing director JJ Taylor said more and more agents are finding that the @realty commission model works better than other commission structures.
“The proof is in the pudding here. Agents like a model where they keep more of their hard-earned commission,” Mr Taylor said.
“We are seeing more agents becoming dissatisfied with the major franchises’ commission models and look towards @realty because it is of mutual benefit for all concerned.”
The network increased its residential and commercial property transactions in the 2021 financial year by 42 per cent to $2.2 billion.