What kind of agent are you? Are you someone who values the culture of your independent brokerage above all else? Have you become an unyielding advocate for an in-office work environment? Do you change companies regularly in pursuit of the right opportunity?
All these values and goals—your real estate identity—are yours, and there are no wrong ways to craft a career in this industry. But what you might not know is that these choices directly affect your income today, in ways that you may not have even thought of.
RISMedia’s 2023 Contract & Commission Study delves into all of these factors, revealing exactly how your brokerage affiliation, the number of times you’ve jumped to a new company and even your remote versus in-office preference affects your overall compensation.
One very urgent insight unveiled by the study is that brokerages are, on average, taking more of your commission this year. The average split fell from 77-23 to 70-30. That means it is more important than ever to understand what can increase your overall earning—finding the brokerage that will charge less fees, gain the experience to close more transactions or boost the overall commission rate you charge clients.
As you are choosing the best path for you and your unique journey, knowing how much each decision could cost you is imperative. While you almost certainly chose a real estate career for many reasons, your bottom line is the bottom line. Making sure you maximize your earnings requires knowing all the ins and outs of what affects real estate compensation.
Don’t leave money on the table. Read RISMedia’s Premier exclusive report today.
