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Flying solo is more expensive than joining an agency; at least that is the warning of one real estate agent who recently made the switch.
Perth-based agent Phil Taylor worked as a solo agent for three years and has claimed that it cost him almost $70,000 a year to cover insurances, subscriptions, advertising and software that he needed to work in the business.
Mr Taylor has since made the move to real estate network @realty and said that his overheads are now just $3,300 under the company’s business model.
Mr Taylor said that a lot of agents were unaware of the true cost of operating as an independent and said that the cost outweighed the benefits.
“The $68,000 I was paying annually excluded office space and was just enough to cover the basics like memberships with industry bodies, subscriptions to real estate websites and other tools required to do my job properly.”
Mr Taylor said that working under @realty allowed him to still work independently while remaining under the national brand.
“I came across @realty, which allows agents to pay $275 per month to gain access to administrative support and all of the company’s software, sales tools and marketing,” the agent said.
Mr Taylor added that he still operated the way he wanted to but was able to do without the huge overhead.
“I still do things ‘my way’, but my costs have plummeted, and my earnings are still great, because @realty offers 93 per cent of full commission and allows its agents to own rent rolls,” Mr Taylor said.
@realty agents work together as a collective, which benefits both agents and their buyers and sellers, according to Mr Taylor.
“I’d urge any agent who wants to step away from working with a franchise but is finding it too challenging to set up independently to join the @realty team.”
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