More and more agents are seeking out – and then achieving – 100 per cent commission, according to a network that is championing a change to real estate fee structures.
Having increased its residential and commercial property transactions in FY21 by 42 per cent to $2.2 billion, @realty has shone a light on the work being done by its agents.
Licensed real estate and long-time Port Macquarie resident Jenny Magill has worked in the Mid North Coast for the past 12 years, spending a long time in property management before making the switch across to sales.
It was farms, in particular, that became her focus as the pandemic shifted buyer preference towards tree-change and sustainability.
“I had the vision that I wanted to specialise in selling farms. We have cattle, chickens, we’re beekeepers and we grow all our vegetables.
“So, I can sell farms particularly now during COVID when people are really reaching to go into sustainability,” she revealed.
Having joined @realty in March 2020, Ms Magill said it took her nine months to earn $20,000 and qualify for the network’s 100 per cent commission program.
In her second year, she’s achieved it in just eight weeks.
“In my first year, I was building up my presence and client base, so I had strong momentum heading into FY22 and that’s how I’ve achieved the goal in such a short space of time,” according to her.
She has credited the commission structure for helping her to establish herself within the market – and indicated how “once you’re established you can charge more”.
Working under the same commission program, Northside Brisbane specialist Patrick D’Arrigo – who has cultivated a five-year real estate career – has recently taken just seven weeks to earn $20,000 and achieve his commission goal.
According to him, “the ability to earn 100 per cent commission doing something that you love is fantastic”.
Calling the past year a “dramatic” one, Mr D’Arrigo managed 80 property transactions – reporting more than half of the properties as setting sales records in their streets.
@realty managing director JJ Taylor said the 100 per cent commission program ultimately aims to address the demand for commission disruption.
“We are seeing more agents becoming dissatisfied with the major franchises’ commission models.”
Alluding to the experiences of Mr D’Arrigo and Ms Magill and the increased volume of transactions undertaken by @realty agents, he said “the proof is in the pudding”.
“Agents like a model where they keep more of their hard-earned commission.”