Since technology is evolving, there’s new momentum taking place within the real estate industry. And while some brokerages can’t keep up, others flourish with the updated software and methods involved with transaction management, marketing, CRMs and more.
Well one brokerage in Mentor, Ohio has seen rapid growth in its young, four month lifespan, and has already recruited 20 agents. However, with so many brokerages to choose from and only so many agents in that market, how can they do that? What’s the catch?
The question that HomeSmart Real Estate Momentum owner/brokers Greg Pernus and Marianne Drenik says speaks the loudest: What’s the catch?
Well, the answer is… There is none.
Northeast Ohio is populated with many traditional brokerage models and a few cloud-based and discount brokerages. Some offer large offices and most have broker splits, and that is where HomeSmart Real Estate Momentum is different! The 100% brokerage model combines the brick and mortar of a traditional brokerage with tools and technology that allows agents to work on the go. HomeSmart offers the best service, support, training, tools and technology to scale and grow your business efficiently all while allowing the agent to keep 100% of their commission. They’re the only true 100% program in the area and agents are recognizing its advantages.
Tech With No Catch
This HomeSmart brokerage started with two agents–co-owners Greg and Marianne– and by end-of-January, is on target to have about 25 agents. It’s grown faster than they anticipated and Marianne credits that to the fact that no other brokerage in the area offers this model. Other companies may provide similar technology, but agents have to pay for it one way or another. You either have to give a generous broker split or you have to pay a huge annual cap in order to get to your 100% commission.
Agents crave the tech they need to efficiently scale their business, but tend to find it cumbersome and expensive to work with several third party softwares that don’t always communicate with each other. HomeSmart Real Estate Momentum harnesses the franchisor’s marketing and proprietary technology which has an end-to-end, seamless user experience, is very user friendly and allows agents to run their business the way they want to, with complete visibility and control.
No Extra Cost With No Catch
Seem too good to be true? Some agents may think so, which is why they’re invited to the office to see for themselves that there is no catch.
After a short visit to HomeSmart Real Estate Momentum, Greg and Marianne quickly show off a beautiful and professional office, all the technology an agent needs to grow and run their business and the tools and marketing materials HomeSmart offers at no charge.
But that’s when agents wait for the ball to drop. Fees.
While other brokerages hit agents with high monthly and annual fees or unreachable caps they have to hit before they can take home 100% of their hard-earned cash, only to start back at ground zero every year, Momentum has a low monthly fee of only $125/month... and that’s it. There’s no annual fee, no caps, nothing else. Agents’ E&O insurance is included, their transaction management tools are included and they are offered an a la carte system where they can choose to use a transaction coordinator. It’s all the benefits of the traditional brokerage, but they get 100%.
“We’re very open and upfront about our model,” says Marianne. “Every agent is treated the same, whether they’re an independent agent (new or experienced), on a team or has their license in referral status with the state,”
What Agents Want With No Catch
Momentum’s rapid recruiting of 20 agents in eight weeks has been fairly simple and here’s why. People are coming to Greg and Marianne saying they’re unhappy with their current brokerage, but feel there’s nowhere else to go. That’s why they brought HomeSmart to Ohio. Agents always felt that if they left, they’d be taking a step backwards. Coming to HomeSmart Real Estate Momentum gives agents a pay raise, the latest and greatest technology and support. You don’t have to worry about this fee and that fee and paying off your cap. All of those worries and stressors are gone with HomeSmart.