Written By Malcolm Lawson
Are you considering joining a cloud-based real estate brokerage like REAL Broker, LLC? While there are certainly trade-offs to be aware of, I want to review the pros and cons of REAL Broker to help you make an informed decision.
CON: No Face-To-Face Interaction
One downside of a cloud-based brokerage is the lack of in-person interaction with colleagues. While video calls can partially fill this gap, they aren't quite the same as being in the same room as someone. However, there are benefits to virtual interactions, such as increased efficiency and convenience for clients. Extroverted agents may find this lack of physical connection more impactful but can compensate by joining local real estate associations and attending networking events.
CON: No Broker's Office Access
Another trade-off with a cloud-based brokerage is giving up access to a physical broker's office and conference rooms. However, this can actually make you more efficient by saving time and reducing distractions. If you need a dedicated workspace, consider renting an office space. Additionally, meeting clients in public spaces like coffee shops can still provide a professional environment.
PRO: Lower Cap and Splits
One major advantage of REAL Broker is its significantly lower fees compared to franchise-based brokerages. You can save thousands of dollars a year on caps and the split percentage. This extra money can be used for personal expenses, marketing, or hiring support staff. The 15/85 split is particularly beneficial for new or part-time agents, allowing for higher earnings.
CON: REAL Brand Is Not As Recognizable
REAL Broker may not have the same level of brand recognition as other real estate companies. However, in today's market, clients are more interested in the agent's reputation, knowledge, and dedication rather than the company they work for. The agent's value proposition matters more than the logo on their business card.
PRO: Huge Revenue Share Potential
REAL Broker offers a highly profitable revenue share program for attracting new agents. Compared to other brokerages, their program is more generous, providing $4,000 per year for each directly attracted agent. Building a downline can lead to substantial passive income, making it a great opportunity for agents who enjoy networking.
In conclusion, cloud-based brokerages like REAL Broker have numerous advantages. While there are trade-offs to consider, the benefits of lower fees, higher splits, stock incentives, and a strong revenue share program make REAL Broker an attractive option for agents looking to thrive in the industry.
Ready to join? I would be honored to sponsor you in the company at no additional cost. Just put my name, Malcolm Lawson, as your "Sponsoring Agent" when you sign the Independent Contractor Agreement.
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