Should agents instantly receive commissions?
Updated: Aug 18, 2021
In an Australian first, agents and affiliated agencies won’t have to wait until a property is settled to receive their commission on a sale.
Under a new @realty program, agents will be able to claim commission when a contract goes unconditional, with the company promising a 24-hour turnaround for payment.
@realty CEO James Taylor stated this new format will provide agents with more consistent cash flows and greater security.
“We believe in providing as much support as we possibly can to our network of real estate professionals so that they in turn can provide a positive and professional experience to vendors and buyers,” Mr Taylor said.
Mr Taylor said the current economic climate seeing delays in settlement is putting pressure on agents.
“In the current market, some buyers are seeking longer settlements to give them more time to sell their own property or finalise finance, and that adds to the pressure on agents if they have multiple contracts like this,” Mr Taylor continued.
“It’s time the real estate industry offered agents the same opportunity many other people have to receive a more regular and reliable income stream.”
Mr Taylor said @realty Boost and the uncapped commission scheme are just some of the many ways the company maximises agents’ earning potential and reduces overheads.
“Our agents have access to an array of income streams, including finance and conveyancing and property management, with the ability to own rent rolls,” Mr Taylor said.
“Our Ambassador Program encourages agents to help grow our team, and in turn, they earn a passive income from the sales a referred agent makes, without impacting the new agent’s income.”