Pros & Cons of Joining REAL Broker (Agent Review)
REAL Broker, LLC is a cloud-based real estate brokerage that offers numerous advantages but also comes with some trade-offs. In this article, I will review the pros and cons of joining REAL Broker to help you decide if a virtual, cloud-based brokerage is right for you. While I ultimately decided that the benefits outweigh the trade-offs and joined REAL, you might come to a different conclusion.
Con: No Face-to-Face Interaction
One of the most obvious trade-offs of a cloud-based brokerage is the lack of in-person interaction with colleagues. While you can still interact with clients using services like Zoom, video calls aren't quite the same as being in the same room. However, there are benefits to virtual meetings:
Increased efficiency: No need to drive to an office.
Convenience for clients: They can join meetings during lunch breaks or after work.
Extroverted agents and brand-new agents might find this lack of physical connection challenging. Extroverted agents who thrive on social interaction can still satisfy their social needs by joining local associations, attending in-person training and social events, or participating in business networking groups like BNI. New agents might miss the ability to ask questions in person but can still get their questions answered through phone calls, video calls, emails, or online resources.
Con: No Broker's Office Access
Giving up access to a broker's office and conference rooms is another trade-off. However, the COVID-19 pandemic has shown that physical offices aren't necessary for success. Working from home can be more efficient, eliminating commute times and office distractions. For those who need an office to focus, renting a generic office space is an option. For in-person meetings, local coffee shops, title company conference rooms, or lender offices can be used.
Con: REAL Brand Is Not As Recognizable
REAL Broker's brand is not as well-known as some other real estate companies. However, the logo on your business card is less important than your reputation, knowledge, and communication skills. Clients choose agents based on these factors, not the company they work for. Franchise-based brokerages often overemphasize the value of their brand, but today's consumers prioritize the agent over the company.
Pro: Lower Cap and Splits
REAL Broker offers significantly lower fees compared to franchise-based brokerages. As a cloud-based brokerage, REAL doesn't have the overhead costs associated with physical offices, staff, and regional managers. This allows REAL to charge a $12,000 annual cap, which is much lower than the $24,000 to $28,000 caps at many Keller Williams brokerages.
REAL Broker also offers an 85/15 commission split, which is beneficial for both new and part-time agents. For agents who don't produce enough to cap or just barely cap, this split allows them to take home more money compared to the higher splits at many franchise-based brokerages.
Pro: Four Ways to Earn REAL Stock
REAL Broker offers four ways for agents to earn stock in the company:
Capping: Earn free stock by paying the $12,000 annual cap.
Stock Purchase: Allocate 5% of your commission to purchase stock and receive a 25% bonus in free stock.
Agent Attraction: Earn stock by attracting new agents to REAL.
Elite Agent Award: Receive up to $24,000 in free stock for hitting certain production milestones.
These incentives make agents part owners in the company, fostering a sense of community and collaboration. Helping other agents succeed benefits the company and increases the value of your stock.
Pro: Huge Revenue Share Potential
REAL Broker's revenue share program is one of the most lucrative in the industry. For every agent you directly attract, REAL pays you $4,000 annually from the $12,000 cap they pay. The revenue share extends to five levels, creating significant passive income potential. While not everyone wants to be a full-time recruiter, simply being a great agent and networking can attract other agents to REAL.
Final Review of REAL Broker, LLC
REAL Broker's commission structure is competitive, with agents earning up to 90% of their commissions. According to Real Trends, Real Broker's commission structure is designed to incentivize agents to grow their business.
REAL Broker provides agents with comprehensive training and support, including online courses, one-on-one coaching, and ongoing training sessions. According to Training Magazine, REAL Broker's training program is designed to help agents succeed in today's competitive real estate market.
Cloud-based brokerages like REAL are the future of the real estate industry. They offer numerous benefits, including lower fees, stock ownership, advanced technology, and a generous revenue share program. While there are trade-offs, such as the lack of physical office space and face-to-face interaction, these are outweighed by the advantages. REAL Broker is well-positioned to disrupt the industry and provide substantial value to its agents. I'm proud to be part of a company that positively impacts agents' lives and businesses.
To explore how REAL Broker can change your business, let's schedule a 1-on-1 Zoom call. I’d be happy to discuss your needs and answer any questions.
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Real Trends. (2022). Real Broker Commission Structure.
Training Magazine. (2022). Real Broker Training Program.
