BrokerageTechnology

Real, a virtual brokerage, rolls out agent recruitment program

New incentive system is designed to build on Real's momentum
  • Agents who recruit another agent at the virtual brokerage Real can receive a dollar-for-dollar match of the commission split that Real collects from the recruited agent for one year.
  • The recruitment rewards evoke Keller Williams' profit share program, with some notable differences.

One engine driving the rapid growth of Keller Williams has been the franchisor's "profit share" program, which offers ongoing financial rewards to agents for recruiting other agents to the firm. Now Real, a fast-growing virtual brokerage that revolves around a mobile app, has put its own spin on the concept. The company is unveiling an agent referral program that pays out in a manner that's easier to grasp than Keller Williams', according to Real CEO Tamir Poleg. Agents at Real who recruit an agent to the brokerage can now receive a dollar-for-dollar match of the commission split that Real collects from the recruited agent for one year. Real normally collects 15 percent of every gross commission earned by one of its agents, while the agent keeps 85 percent. But if the agent who earns a commission has been recruited by another Real agent, Real will divide the 15 percent split evenly between itself and the agent who recruited the other agent: Real keeps only 7.5...