and what made them succesful---

You have to define what success is to yourself first.

To some working 80 hours a week is success. To other making as much money as possible is success and to others have the most agents and biggest brokerages is success.

The one I used to be a part of is www.solidsource.com
They are one of the most successful 100 percent companies I have ever seen.They grew from 80 agent when I joined to over 2,000 plus now.

Now that I have my own company success to me is to work no more than 40 hrs a week and do real estate deasl along with my investing.Take time off to travel and spend with the family each year and be fullfilled not just monetarily but spiritually,emotionally,and physicially for COMPLETE success.

My advice is decide how you imagine your brokerage to be an create action and business plan around it with specific goals and steps.

Sorry it's www.solidsourcerealty.com

I recently joined a 100% commission brokerage, so here's my first impressions:

Don't look like a discount brokerage. There is another one in town that uses their web address as their business name. I think that turns off a lot of people.

There has to be a balance between low overhead and providing services to agents. Agents aren't going to expect plush offices or high priced advertising, but a good 100% brokerage should provide guidance on marketing, and even some basic fee-based progams an agent can use. Even if those programs are of marginal value, agents want to know they are not 100% on their own.

And I agree with super realtor's definition of success. I'll consider myself successful when I can work less then 40 hours a week and still have enough money to provide a good life for my kids - and a good life for my kids includes plenty of time with their dad.

I certainly respect all of the various business models out there for real estate brokerages.

However, I am a big believer that in order to develop a sustainable long term brokerage with growth, agents need to have some "skin in the game" and the brokerage/team really needs to look at what value they are providing their agents.

For our team, having a weekly radio show, generating all kinds of leads, etc...there is a real benefit to those agents on the team.

Sure they go could somewhere and pay 0..but they would also get 0. And the real estate agent busines is not one that can be built on very little. It is a numbers game as we know.

Our team finished as the #21 team in the United States in closed transactions according to the Wall Street Journal's 2008 numbers that were just released. So I am not an expert....but I have really examined various models to see what in fact does work.

I hope all is well!

Ryan,

How many transactions did your team close and how many people are in the team (liscensed and unliscensed)?

i ask because i have genuine interest in expansion in the very near future.

found it:-) gotta love google!

The Wall Street Journal just released their 2008 sales numbers for the Top 400 real estate teams and individuals in the United States.

The Minnesota Real Estate Team finished as the top Minnesota team and the #21 real estate team in the United States in closed transactions for 2008, with 452 homes sold. http://online.wsj.com/ad/top100teamsides.html

The team also finished as the only Minnesota team to make the Top 100 teams in “Sales volume.” Our team finished 80th. http://online.wsj.com/ad/top100teamvolume.html

We continue to take great pride in our approach on helping buyers and sellers with their real estate transactions here in Minnesota and Wisconsin…most importantly…helping you at YOUR own pace. With our team, there is never any timeline or rush you will feel working with one of our top agents.

Please don’t hesitate to call us today at 952-223-1150, to learn


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so, how many people are in the team (include licensed and unlicensed)

I counted 50 licensed : http://www.mnrealestateteam.com/OurTeam.htm

one of the more popular 100% brokerages here in Dallas is The Michael Group. There are many smaller brokerages offering this option as well, including my brokerage. IMO this market is a little tougher to start up this model. I've had quite a few agents that work for 100% company inquire about position recently bec. we provide leads. With sales down, many agents are not able to operate on their own and collect 100%.

If you are going to work for a 100% commission brokerage than why would you just not get your brokers license and go-it alone?

That's prety easy here to take the broker pre-license,then the broker state test,get your llc,join mls's,NAR etc. you are going to be out at least 8 to 10k or more and we are not even talking about having a building yet. This would be if you were going to do a virtual setup.

So at a 299.00 per transaction company you would have to do about 35 to 40 transactions a year to make it worth your while to get the brokers license and not be at a 100 percent. Unless they want to just be the broker or recruit agents they come out better cost wise hanging the license with my company and having less hassle.

Because my overhead is much lower at my broker's shop than it would be if I had my own brokerage.

What type of monthly fee's and transaction fees are we talking from your experience. Mostly I'm seeing 200-300 per deal and around 50 -100 each month

I work for 100% brokerage and I am happy. I can't compare the office, training with the company I started, it is just miserable, but I do need support that will cost me 50% of my commission. However to spend my first two years with a big company with great training was worthy, but not anymore.

We are a 100% shop in the Dallas / Fort Worth and Houston markets. We, too, have recognized the importance of referrals to agents. Therefore, we concentrate on marketing and bringing in leads, then offering them to agents at a 20% referral fee.

Many experienced agents do not have a desire to become a broker. There is a lot more involved in owning/managing a brokerage than simply managing agents. Many agents just want to do what they do best...which is sell and lease properties.