Maybe you read today that GMAC Carlson is closing 14 of its Massachusetts offices.
As the articles mention, almost all real estate agents are paid on commission, meaning there is little cost to keeping them on-board.
Therefore, those who lost their “jobs” are support staff and office managers.
But, it may surprise you that, while some companies are laying off people, other agencies are actually taking on agents.
Well, of course! The costs to the companies are nominal (an extra cup of coffee or two?), while the payoffs can be immense.
Suppose one of every three new agents brings in at least one deal a month additional – that’s probably at least $5,000 into the company’s till, keeping the wolves from the door for one more day. ($400,000 deal, $10,000 to the buyer’s agent, split 50-50 between company and agent).
I had completely missed the news about Washington Mutual closing its seven Massachusetts offices.
On a completely unrelated note, I’m hiring!