The Texas-based brokerage JP & Associates Realtors is the latest real estate company to offer its agents an associated health care plan. The move comes on the heels of the brokerage’s push to franchise last summer.

“I could not be more excited for our agents,” JP Piccinini, founder and CEO of JP & Associates Realtors, said in a statement. “With the latest additions to our company, our Realtors now have options regarding health insurance and retirement plans.”

As of Feb. 15, agents with the company have access to an annual agent health care plan and retirement and bonus plan options through its newly created Gemini program. The company boasts more than 1,500 agents across 21 offices.

An estimated 86 percent of Realtors associated with brokerages firms are independent contractors, according to the latest membership data from the National Association of Realtors (NAR), meaning they often need to obtain health insurance through the open marketplace.

NAR has investigated the possibility of creating an associated health plan for its 1.3 million members, but recently CEO Bob Goldberg said there’s no national solution at this time.

Still, real estate brokerages have taken it upon themselves to offer health care to affiliated agents in some capacity. Compass and HomeSmart unveiled health care plans for agents last year. Big franchisors like Realogy, Keller Williams and RE/MAX also offer health care solutions for agents to attempt to obtain cheaper coverage than through the Affordable Care Act marketplace.

“We strongly value the livelihood of our agents,” Mark Johnson, chief operating officer for JP & Associates said in a statement.

“Not only does our Agent Health Plan service offer ideal benefits, but we are able to lower out-of-pocket expenses,” Johnson added. “Our agents may save up to 40-70 percent annually compared to their current plans, which could potentially be up to $15,000 or more a year.”

JP & Associates Realtors, based in Frisco, Texas, closed 6,714 transactions in 2017 for more then $1.7 billion in volume. The brokerage ranked 88th in transactions on the Real Trends 500.

The brokerage began licensing franchises in September 2018, and has since closed on 17 franchises in Lousiana, Florida and South Carolina. Like the brokerage, franchises operate on a 100 percent commission model. In Texas, agents currently pay a $475 minimum transaction fee and keep 100 percent commission on a transaction. Agents are required to make a minimum of six transactions per year.

Update: Updated to include additional information about franchises. 

Email Patrick Kearns

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Black Friday starts now! We've got great deals on Inman Connect New York in-person and virtual tickets. Register now×
Cyber Week Sale: Get 1 year of Inman Select for $75.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription