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I have to imagine they do. Personally, I think the KW setup is great with the cap and while every KW office is different the value you get at KW offices in general is very good. My cap is $25K plus the $3K royalty fee. Does the $16K you mentioned include the $3K in royalties?
Cap is 13k local/3k royalty, and after capping there is a transaction fee of $250 on your next 10 closings. It comes out to around 18,500 and then we pay an additonial $70 per month for tech/e&o/etc. IMO, a great value for what KW provides with the tech and support. I don't take meetings with other brokerages either, it would be a waste of time, which I have precious little of. I like the commission structure, I have a large team, I like the agents here, and moving would be major hassle. It would have to be something significant for me to make a change.
1/2 cappers/team members pay a 9k cap (6k local/3 k royalty) and no transaction fees.
Cap is 13k local/3k royalty, and after capping there is a transaction fee of $250 on your next 10 closings. It comes out to around 18,500 and then we pay an additonial $70 per month for tech/e&o/etc. IMO, a great value for what KW provides with the tech and support. I don't take meetings with other brokerages either, it would be a waste of time, which I have precious little of. I like the commission structure, I have a large team, I like the agents here, and moving would be major hassle. It would have to be something significant for me to make a change.
1/2 cappers/team members pay a 9k cap (6k local/3 k royalty) and no transaction fees.
That's a good deal. I agree with you that KW offices typically offer an awesome value proposition. As I mentioned, my cap iis $25K + $3K. My monthly office fees are $51 and on every single transaction I'm charged a $35 E&O fee. My old broker used to take between 20% and 40% on every transaction (it was a graduated split so the more I sold, the more I kept) and there was no training at all or tech provided by the office.
One thing I LOVE about KW is that everyone and I mean EVERYONE is on a 70/30 split. So, there's never any "how come that guy gets a better split than me???" I think they may be allowing MCs to offer an 80/20 split to people who perform at a certain level but personally I'd rather stick to the 70/30 split as it gets me to the cap faster which I'd end up paying either way.
That's a good deal. I agree with you that KW offices typically offer an awesome value proposition. As I mentioned, my cap iis $25K + $3K. My monthly office fees are $51 and on every single transaction I'm charged a $35 E&O fee. My old broker used to take between 20% and 40% on every transaction (it was a graduated split so the more I sold, the more I kept) and there was no training at all or tech provided by the office.
One thing I LOVE about KW is that everyone and I mean EVERYONE is on a 70/30 split. So, there's never any "how come that guy gets a better split than me???" I think they may be allowing MCs to offer an 80/20 split to people who perform at a certain level but personally I'd rather stick to the 70/30 split as it gets me to the cap faster which I'd end up paying either way.
They help provide agents for my team that are looking for support, and have great training so I don't have to do everything by myself.
I am glad I saw this post. We have just listed with an agent with Compass for a condo on Philly's Main Line. She was with another agency when we bought the property about 7 years ago. We had never heard of Compass before but I assumed it was like Coldwell-Banker, Keller- Williams, etc... She was a great buyers agent for us then and that is why we were happy she was still in the business now but with a different agency. Thanks for this info about Compass.
I am glad I saw this post. We have just listed with an agent with Compass for a condo on Philly's Main Line. She was with another agency when we bought the property about 7 years ago. We had never heard of Compass before but I assumed it was like Coldwell-Banker, Keller- Williams, etc... She was a great buyers agent for us then and that is why we were happy she was still in the business now but with a different agency. Thanks for this info about Compass.
A good agent is a good agent, regardless of where they hang their hat. Glad you have somene you trust that earned repeat business. If she's good, refer your friends to her as well.
I am glad I saw this post. We have just listed with an agent with Compass for a condo on Philly's Main Line. She was with another agency when we bought the property about 7 years ago. We had never heard of Compass before but I assumed it was like Coldwell-Banker, Keller- Williams, etc... She was a great buyers agent for us then and that is why we were happy she was still in the business now but with a different agency. Thanks for this info about Compass.
Compass is just another brokerage much like any other. They've just expanded rapidly by buying regional/local brokerages and buying agents one-by-one when buying a local brokerage doesn't work out.
Quote:
Originally Posted by Brandon Hoffman
A good agent is a good agent, regardless of where they hang their hat. Glad you have somene you trust that earned repeat business. If she's good, refer your friends to her as well.
What he said.
Except for Redfin we're all independent contractors running our own businesses the way we see fit. The brokerage matters a lot less than the agent when it comes to what results you'll see.
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