End of the independent contractor

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Editor's note: This month, Inman News is focusing coverage on the issue of percentage-based real estate commissions and other industry compensation practices. The following guest perspective is written by Buz Hurley, a real estate agent in Georgia. Please join in the discussion: Click here to share your views and insight with Inman News readers. By BUZ HURLEY Are commissions the problem or is the "independent contractor" brokerage system the problem? The predominant brokerage system in place has an attractive allure: Be in business for yourself. Earn big commissions with nominal expenses and effort. Real estate careers are touted as part-time, full-time, anytime opportunities: "Educated or moronic -- it doesn't matter. If you know someone who will buy or sell a home in your circle of friends or family, you should be in the real estate business so you can cash in on those relationships." Almost everyone has a friend or family member who is a real estate a...