An independent real estate agent is often also a commission only agent and are normally individuals or sometimes couples who work together to help local property owners sell their homes.
If they grow to be bigger and start hiring staff they become a real estate office and then need to go hiring agents, property management staff and office admin staff depending on their size.
Commission earned by Independent real estate agents
Most commission only agents choose this option because they understand that they can earn a good income if they do a good job by their clients. The downside is that they don’t earn a wage using the traditional debit credit system but if they list and sell enough properties each month that this won’t matter.
Commission agents work for all sorts of real estate office brands from McGrath to Ray White to your local independent real estate agent office but the different in what they take home can vary greatly.
Established brands like McGrath take a big chunk of the pie
Established real estate agency brands like McGrath have a franchise style model where the person who runs the real estate office earns the bulk of the money when they share it with a commission style agent. The commission split is often 40% to the agent (minus your office and support costs) and 60% goes to the real estate office. This may vary, particularly since there was a massive exodus of top agents from the brand last decade.
On the other side there are many relatively new real estate agent offices that will give commission only agents 80% of the commission and even cap it at a maximum monthly commission, while also providing office and marketing support.
Become an independent real estate agent
Learn more about how you can work locally and help property owners sell their properties with very little upfront cost to you, a higher percentage of the total commission and the support of a local central office and other agents available for mentoring.