@realty has this week unveiled a new earning scheme for agents, who will have the ability to move from @realty’s standard 93 per cent commission to 100 per cent.
Under the new scheme, once agents have paid $20,000 in service fees through their standard commission, they will be eligible to retain 100 per cent of commission earned on any further deals less a small administration fee.
@realty CEO James Taylor said the new model gave agents the opportunity to be better rewarded for strong performance.
“We are giving agents the power to increase their income with 100 per cent take home commission now available,” he said.
“This is achievable for many of our agents who are active in the mid tier property market, and particularly attractive for those negotiating high end deals.
“Those who don’t reach the $20,000 service fee requirement or who are working part time will continue to earn 93 per cent commission, which is much higher than the industry standard of 45 per cent.”
Mr Taylor said many @realty agents already out-earn their peers by leveraging the multiple income streams on offer through the company’s unique business model.
“Our agents have access to an array of income streams, including finance and conveyancing, the ability to own rent rolls and our ambassador program,” he said.
“The ambassador program has been instrumental in growing our network, by incentivising agents who bring on board other agents, by allowing them to earn a passive income from the sales the new agent makes.
“We now have more than 600 agents across Australia and are expecting strong growth this year as more agents realise our model offers a simpler, more rewarding way to do business.”
Mr Taylor says @realty’s business model now caters to ‘every type of agent,’ with the recent launch of the OASIS system opening the door for boutique agencies and sole operators to partner with the brand.
OASIS, which stands for Online Agency Support and Integrated Systems, acts as a portal for boutique agencies and independent operators seeking support from a national brand.
“With the launch of OASIS, we now have the ability to provide a career path for all agents, whether they are employed directly by @realty, co-brand with us or work under their own banner with administrative support provided through the OASIS system,” he said.
“We are seeing quite a few independent operators come on board with us through OASIS, as it effectively cuts their operating costs by 80 per cent, while giving them access to @realty’s marketing tools and administrative support.
“This is just another way we are innovating to give our agents more flexibility, freedom and control over their work.”