What is your commission split with its agents in NYC?
The success of our agents comes first. We believe that the most effective way to motivate our agents and ensure their success is to offer them the highest agent commission split in NYC. Agents who join our Partnership Plan will receive a guaranteed 100% of all commissions they earn on both the buy and sell side as an agent in NYC. Agents who join our Associate Plan will receive a guaranteed 75% of all NYC real estate commissions they earn, including commissions earned for free leads and client referrals offered to our Associates.
Are there any upfront real estate agent fees I need to pay to join you as a licensed real estate salesperson?
No, there are no upfront real estate agent fees or hidden charges when you join us as an affiliated agent.
How can you afford to pay a 100% commission split with your NYC agents?
We can afford to offer our NYC agents a best in class 100% commission split because we know that if our own agents achieve success then our own success will follow. For too long, NYC real estate agents have been forced to accept unfair commission splits charged by the traditional real estate brokerages in NYC. We know that agents who are forced to share 50% or more of their commission with a managing broker will be less motivated than agents who keep up to 100% of their commissions earned in NYC.
Does you charge your NYC agents any desk fees, transaction fees or hidden charges?
Aside from our very fair and reasonable monthly fee, we do not charge any other desk fees, transaction fees, errors & omissions insurance fees or hidden charges. We offer our NYC agents two all-inclusive plan options. Our Partnership Plan provides our agents with a 100% agent commission split on all commissions earned without any additional transaction fees whatsoever. Our Associate Plan provides our agents with a 75% commission split on all NYC commissions earned.
When will I be paid my commission and how will I receive it?
Our NYC agents are paid their 100% commission split within 3 business days of the close of escrow. We send out our agent commission checks promptly to your mailing address on file. With us you never have to worry about how and when you will receive your 100% commission split. Simply focus on closing your deals and we will send you a check for your 100% commission split within 3 days of closing.
Do you offer your agents in NYC buyer and seller leads?
Yes, we offer all of our NYC agents the opportunity to work with qualified buyer and seller leads. We generate these leads through our in-house marketing and lead generation system which is conducted exclusively for the benefit of our affiliate agents in NYC.
NYC Agents on our Associate Plan will benefit from completely free leads. If you close a deal with one of the leads provided to you by the firm, you keep 75% percent of your commission earned. NYC Agents on our Partnership Plan keep 100% of all commissions earned from their own book of business and 75% of commissions earned through working with a buyer or seller lead provided by the firm.
Do you require your agents to have a minimum level of production or quota?
Absolutely not. We cater to both full time and part time agents in NYC. We don’t think it would make sense to impose specific production requirements on our agents. Our agents are already highly motivated because of the 100% NYC commission split we offer with our Partnership Plan.
Do you provide office space or meeting rooms for your agents?
Agents on our Partnership Plan (100% commission split) benefit from direct access to our shared office space locations and conference room facilities throughout New York City. If you need to meet with a client or spend some time working at a desk, we will always have a space available for you.
Do you carry an errors & omissions policy for its agents?
We carry an umbrella errors & omissions policy for all of its agents. Whereas other NYC brokerages charge an extra annual fee or a per-transaction errors & omissions fee to its agents, We include this directly in our monthly membership. We will never ask you for additional fees on top of what you already pay.
Are you a member of REBNY (Real Estate Board of New York)?
Yes, we are a member of REBNY and therefore all of our agents benefit from direct access to the RLS database of properties for sale in the city. Being affiliated with a REBNY member means that as a buyers’ agent you will have full, unrestricted access to fellow member listings in the city through REBNY’s Universal Co-Brokerage Agreement.
Are there any mandatory meetings or face time requirements?
Absolutely not. We believe that a 100% commission split is the most effective motivational tool. Agents who work with us in NYC effectively own 100% of their business. We want you to be motivated in the same way that an equity owner of a company is motivated. Imposing arbitrary meetings or face time retirements would simply waste time and distract our agents from earning a greater portion of the substantial NYC real estate commissions available today in a market where the average sale price is over $1.87 million.
Can I negotiate my real estate commission with clients?
Yes. All our NYC agents are permitted to directly negotiate their real estate commission amounts with clients without any interference or influence from the firm. We believe that you should have the right to be creative and conduct your business in the most effective and profitable manner that makes sense for you.
What kind of license do I need in order to become a real estate agent in New York City?
In order to become a real estate agent in NYC, you must complete three steps:
Complete a 75 hour New York State approved class
Pass the New York State Real Estate Salesperson Exam
Request that we sponsor your license
How do I switch my license from another brokerage over to you?
When you are ready to move over to our firm and begin earning a 100% NYC commission split, all you need to do is request that your current managing broker log onto his or her eAccessNY account and terminate your relationship. Once you’ve done this, please let us know and we will sponsor you from our firm by adding you to our firm on eAccessNY.
Can I bring my existing exclusive listings with me from my old brokerage over to you?
Absolutely. Provided that you receive the permission from your old brokerage, you are more than welcome to bring your existing listings and book of clients over to our platform and begin earning a 100% commission split.
Am I allowed to switch between the 100% Partnership Plan and the 75% Associate Plan?
Yes. Our NYC agents are permitted to switch their plan between our Partnership and Associate offering every six months.