Am ready to move on, so am now searching for all 100% commission Real Estate companies in the far western suburbs of Chicago.?

Asked by Pattis1973, Aurora, IL Fri Jan 7, 2011

I have over 10 years experience in Real Estate, and I would like your help finding other companies like Charles Rutenberg and Prospect Equities that offer comparable 100% commission programs but are still in the far western suburbs of Chicago. In case you’re not familiar with those two Real Estate companies the agent pays a small monthly fee and gives a few hundred dollars to the Broker after a property closes, the rest of the commission goes to the agent. I know you’re saying why don’t I just work for one of them, well because I’ve check into those two companies and am just not happy with what they offer at this time. Any help would be greatly appreciated. Thank in advance!

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15
jeff donnell…, Agent, Chicago, IL
Fri Jan 7, 2011
I love the company that I work for. It's called Covenant Realty. It works like this, 80% until you pay 12k, after that it is 100% commission. They cover all the major expenses like showing solutions, Realtor.com, E&O, ect. There are no desk fees because all agent work from home. The broker/ owner is very flexible, and always helpful.

I came from John Greene ( 5 years) and found this to be a great transition. Let me know if you have any questions.

1 other plus, if you bring anyone else into the company, you make 50% of what the company makes off that new agent the first year and 25% every year after. If the company make 12k from a new agent the first year, you make an additional 6k their first year and 3k every year after.
1 vote
Pattis1973, , Aurora, IL
Fri Jan 14, 2011
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0 votes
Pattis1973, , Aurora, IL
Thu Jan 13, 2011
I guess just not many 100% companies out in the far Western Burb of Chicago. )-:

I did goolge, I've googled it to death! Found 3, 2 were way southeast and one was just too far east of me, darn!
0 votes
Kim Noonan, Agent, New Lenox, IL
Mon Jan 10, 2011
PattiS, you could try googling 100% commission companies, Illinois and you'll get some names.

You could also do a brokerage search on MLSNI (office/town) in the towns in which you'd like to base and call the broker owners/managers to ask what kinds of agent compensation programs they offer.

I've found that with most other things in life, you usually get what you pay for with a sponsoring broker. If you're looking to keep the lion's share, don't expect the owner's den to be fabulous.
Web Reference:  http://www.kimnoonan.com
0 votes
EmpoweredBuy…, , Bethany, OH
Mon Jan 10, 2011
Not sure how it is in the western suburbs of Chicago, but in Cincinnati there have been many growing real estate models like the Charles Rutenber's of the world. There are many monthly flat fee options for agents from $200-$600/month and the agent keeps 100%. I think some of the offices may be smaller and are adapting to the growing number of mobile agents. With most day to day needs available to agents online the trend appearto be to downsize the office and create more value to the agents via more competitive splits or flat fees. i'd imagine there is an option out there if not there will be soon.

Minimizing overhead and watching the outflow is a big part or everyones life these days. Good luck to you!
0 votes
Jo Soss, , Bremerton, WA
Mon Jan 10, 2011
I have worked 100% almost exclusive the last 17 years. Once company it was $800 per month, then $900 then $1000. Another company I worked at it was $300 per month. Of course there are lots of split type offices. There were days in my market area that ReMax agents paid $1300 per month. I am sure in this economy some offices have lowered that fee.
0 votes
Tni LeBlanc, Agent, Santa Maria, CA
Sat Jan 8, 2011
It showed up after I re-posted.

Maybe we can get some RE/MAX agents to explain what it is they DO pay for because 100% to the agent won't keep the lights on unless the agents are paying a "light fee." I know they have desk fees but they seem pretty minimal. They only big brokerages in my town that I've seen close are RE/MAX and Assist 2 Sell which both heavily advertised the fact that they did things differently. Not arguing for the status quo, but I don't know if it is viable to just tinker with the existing system and stay in business during every type of market. Surely things could be done better or differently but I think you would have to rework the entire framework.

The expenses of real estate are heavy: E&O, basic liability coverage, commercial auto policies, workers comp, rent, phones, high speed internet, color laser printers, toner, paper, and multi page networked scanners. All those things cost money. Just as a client that doesn't want me to earn any money for my investment and time is a red flag an agent that has the same view is a red flag to me as well. Business cost money - Verizon won't take a promissory note. If you produce, you are able to negotiate a sweet deal at a big brokerage anyway and the current system works to your advantage. If you are just starting out a bigger brokerage should be giving you a good amount of support for the 50% plus fees they typically take, but if you are in the middle I think you are right to shop around a bit. But 100% commissions doesn't sound right to me -- the devil has to be in the details.
0 votes
Pattis1973, , Aurora, IL
Sat Jan 8, 2011
Hey Tni your other comment is still here, don’t know why you’re not seeing it?

This is a hard RE market for all of us sorry to say. I've also seen RE/MAX offices close and heard some now offer splits (50/50, 60/40…) just to keep agents, then we have offices that have lost their franchise, or just ended up closing their doors. The economy and the Internet have driven a lot of RE offices out of business.
0 votes
Tni LeBlanc, Agent, Santa Maria, CA
Sat Jan 8, 2011
Hi Pattis1973,

For some reason, my previous comment was deleted.

I have certainly heard of RE/MAX -- their local office closed its doors last year.

I obviously don't understand their business model. They have to make their money somehow. Something for nothing is not realistic.

Tni
0 votes
Dallas Texas, Agent, Dallas, TN
Sat Jan 8, 2011
Here in Texas area we call "flat fee brokers" .... which offer truly nothing different than the national franchise groups.

We are flat fee - one of the top 10 brokers for years in Dallas Fort Worth area... AND with national franchise RECEIVED nothing than paying $xx,xxx per year.


Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes
Pattis1973, , Aurora, IL
Sat Jan 8, 2011
Tni LeBlanc

You have never heard of 100% commission to RE agents? Now that's funny. What part of CA do you work in? One of the biggest and first ones to offer 100% is RE/MAX. You didn't kow that?
0 votes
Tni LeBlanc, Agent, Santa Maria, CA
Fri Jan 7, 2011
100% commission? I am an owner/broker so the idea of that is laughable to me. Being a broker is not free and I have to dedicate a significant amount of my time to running the business part. Any agent who wants 100% needs to get a broker's license, or deserves to be milked by fees for even believing it!
Web Reference:  http://MintProperties.net
0 votes
Inaas Arabi, Agent, Naperville, IL
Fri Jan 7, 2011
Patti,

this is a very good question and many of us agents usually evaluate our company just about this time of the year.. here few things to keep in mind though:

1- the broker is a biz just like you, the company needs to make some money so there is no real 100% commission anywhere unless you open your own office and even though the cost of doing that makes it not a 100% commission.

2-figure out the biz model for each of the compaines that you are going to be talking too.. Biz model means how do they make money " monthly fees or fees per transaction and or desk fees"

3- evaluate all of the offering based on a yearly basis using how many deals you have done last year... meaning calculate how much the cost for each one of them and see which one would be cheaper..

4- last i would say figure out 2 important things:
a- who gets the leads off of your listing
b- what type of marketing the company is going to do on your behalf and how are the leads from this marketing effort is divided

5- always nego with any company you talk too.. I work for a big name company but when i got in i nego a fantastic offer that was not ava for anyone.. if we nego for our clients we should also nego for ourselves..

hope this helps.. good luck in your search..

Best Regards,
Inaas
0 votes
Jamie Lowe, Agent, Naperville, IL
Fri Jan 7, 2011
I am independent broker and own the office. It does not get any more 100% than that. You deal directly with me, there's no passing the buck. You won't be dissapointed.
Web Reference:  http://www.jamielowe.net
0 votes
Marianne Hof…, Agent, Naperville, IL
Fri Jan 7, 2011
I am with Charles Rutenberg and love it! We have a group that meets every 3 weeks for lunch at Panera Bread on Ogden in Naperville. We will be meeting Wed. 1/12 at 1 PM, if you'd like to join us. So, tell us more about what you are looking for in a company.
0 votes
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