PHOTO: eXp Realty
The traditional model real estate agents in New Zealand will be very worried. eXp Realty is a model that is unique and puts more money back in real estate salesperson’s pockets. The days of the traditional real estate office taking 50% of an salesperson’s commission and the Franchisor taking 5 – 10% in franchise/co- operative fees are now being challenged by decent and credible industry disrupters.
It’s definitely a unique model. He [CEO Glenn Sanford] said something about 10% of their agents don’t actually sell any houses anymore. They’re just there to build teams and make their money that way by building up their teams.
They offer a much more generous compensation structure. They cap agent commissions that the broker takes a $16,000 a year, which is actually unheard of in the brokerage business.
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