There are 8 different ways an agent can earn income while working for Real.
As an agent, you can earn income by:
- Making Commission on closing transactions
- Stock Purchase Plan
- Stock Purchase Plan Bonus Incentives
- Stock awards for capping
- Elite Agent production awards
- Elite Agent Cultural award
- Revenue Share income
- Attraction Shares
8 Ways to Earn Income at Real as a Real Agent
Note: Canadian differences are denoted in blue text where appropriate. Where no difference is indicated, amounts are the same but in CAD.
1. COMMISSION PLAN
Real’s commission split is one of the most competitive in the market.
AGENT PLAN |
TEAM PLAN |
85/15 commission split |
85/15 commission split |
No monthly fees |
No monthly fees |
$12K annual cap Then 100% split |
$12K team leader annual cap $6K team member annual cap Then 100% split |
$275 CAD transaction fee after cap and $125 CAD/lease transaction fee after cap
**Or 15% whichever is less Note that transaction fees are split when there are multiple Real agents on the same transaction in reZEN. |
$275 CAD transaction fee after cap and $125 CAD/lease transaction fee after cap
**Or 15% whichever is less Note that transaction fees are split when there are multiple Real agents on the same transaction in reZEN. |
$249 CAD sign-up fee |
$249 CAD sign-up fee |
$1,200 CAD annual brokerage and risk management fee, paid from first 3 transactions each anniversary year |
$1,200 CAD annual brokerage and risk management fee, paid from first 3 transactions each anniversary year |
Up to 3 personal transactions per anniversary year, with $275 CAD/transaction fee |
Up to 3 personal transactions per anniversary year, with $275 CAD/transaction fee |
2. STOCK PURCHASE PLAN (SPP)
Agents are able to set aside a portion of their commission as an investment, to be used for purchases of Real’s shares. This allows Real agents to develop an equity stake in the company they’re helping to build and grow.
All shares in this program are Restricted Stock Units (RSUs) and have a 1-year vesting period.
Standard contributions come from the individual agent’s portion of the commission less any fees in the following amounts:
STANDARD CONTRIBUTIONS |
MAX CONTRIBUTION
|
|||
|
$12K CAP |
$6K CAP |
$4k CAP |
|
BEFORE CAP |
5% |
$3,400 |
$1,700 |
$850 |
AFTER CAP |
10% |
$15,000 |
$7,500 |
$5,000 |
Shares are purchased based on the closing fair market value, on the last trading day of the month in which the commissions are distributed.
Agents can opt out of the Stock Purchase program at any time, however, they can only opt-in once per anniversary year.
Additionally, SPP contributions must hit an initial $250 minimum before account funds will be used to purchase stock. Example, if 5% of an agent’s commission contributions only total $205, they will have to wait until $45 more in commission contributions are earned before that money is used to purchase Real stock shares.
3. SPP BONUS INCENTIVES
Every agent who opts in to the SPP is eligible to receive a bonus in the following amounts (effective January 1, 2024):
BEFORE CAP | 10% |
AFTER CAP | 20% |
All shares in this program are Restricted Stock Units (RSUs) and have a 1-year vesting period. Agents must remain in good standing throughout the vesting period.
4. STOCK AWARD FOR CAPPING
Agents are eligible to earn additional stock awards when they reach the annual cap paid to Real in their anniversary year:
Up to 19,000 Agents |
|||
|
$12K CAP |
$6K CAP |
$4k CAP |
CAPPING AWARD |
150 SHARES |
75 SHARES |
50 SHARES |
All shares in this program are Restricted Stock Units (RSUs) and have a 3-year vesting period. Agents must remain in good standing throughout the vesting period.
5. ELITE AGENT PRODUCTION AWARD
Real’s top earning agents are eligible for an additional stock award of $16K if they meet one of the following criteria after meeting their annual cap:
a. They pay $6K in post-cap transaction fees
i) They pay $9K CAD in post-cap transaction fees
b. They close more than $500K in deals AND close 10 transactions of $1M in value or greater
**NOTE agents must be the majority agent on transactions of $1 million or above for them to count toward Elite status. Any split to an agent that is 50% or less means the agent is not the majority agent on that transaction.
All shares in this program are Restricted Stock Units (RSUs) and have a 3-year vesting period. Agents must remain in good standing throughout the vesting period.
All qualifiers must be met within a single anniversary year.
6. ELITE AGENT CULTURAL AWARD
Top earning agents who have achieved Elite Status are subsequently eligible for an additional stock award of $8K if they give back to the entire agent population by teaching monthly topics at the Real Academy. Note: All topics must be approved in advance.
All shares in this program are Restricted Stock Units (RSUs) and have a 3-year vesting period. Agents must remain in good standing throughout the vesting period.
All qualifiers must be met within a single anniversary year.
7. REVENUE SHARE INCOME
Agents who refer agents to Real are eligible for a portion of those commissions. The below revenue share model is unique to Real because higher percentages are awarded for the initial tiers of agents. Real uses a top-down model to reward agents early on, whereas many other brokerages use a bottom-up model.
NUMBER OF AGENTS |
1-9 |
10-14 |
15-19 |
20-24 |
25+ |
TIER |
Tier 1 |
Tier 2 |
Tier 3 |
Tier 4 |
Tier 5 |
PERCENTAGE |
5% |
4% |
3% |
2% |
1% |
MAXIMUM |
Up to $4,000 per referred agent per year to referring agent's cap. |
Up to $3,200 per referred agent per year to referring agent's cap. |
Up to $2,400 per referred agent per year to referring agent's cap. |
Up to $1,600 per referred agent per year to referring agent's cap. |
Up to $800 per referred agent per year to referring agent's cap. |
CUMULATIVE TOTAL |
+Any revenue from Tier 1 |
+Any revenue from Tiers 1-2 |
+Any revenue from Tiers 1-3 |
+Any revenue from Tiers 1-4 |
Sponsoring Agent
You must be listed as the Sponsoring Agent in that Agent's Independent Contractor Agreement. The sponsoring agent, if any, is defined as the Agent who through introduction and explanation of Company’s business model and potential benefits, in the licensee’s determination, most influenced the contractor to become an agent with the Company.
- PLEASE NOTE: Once the Independent Contractor Agreement is signed, the name listed will not be changed for any reason. This includes, but is not limited to divorces or an agent leaving a team.
PRODUCING AGENT POLICY
Agents must be active and pay $650 in splits and/or post-cap fees to Real every 6 months to be considered producing and eligible to receive revenue share.
Grace Period: When you join Real, you can earn revenue share for the first six months - without meeting the producing agent requirement or Tier unlock requirement. This is granted only once (when you first join), it does not repeat after the anniversary date.
Annual Cap: Furthermore, If an agent reaches their annual cap, then the agent is considered automatically producing until their next Anniversary, independent of how much they’ve made in the last 6 months.
In other words, we consider all capped agents automatically producing; the $650 in 6 months rule only applies to non-capped agents.
However, if a capped agent has not paid the $650 in splits and or fees within the six months prior to their Anniversary reset date, they will roll into a non-producing status on their Anniversary reset date.
TIER BUILDING AND BREAKING
Each tier must be completely filled before an agent can begin earning from their next tier. If a member of the lower tiers becomes non-producing, then the spot must be refilled with a producing agent (or the producing status must be re-obtained) before the earnings can resume on the higher tiers.
Non-producing agents don’t “break the tree” or keep agents from receiving revenue for producing agents within the same tier. Rather, agents will continue to receive revenue share in the previously determined amounts, they just need to bring in new agents to replace those that have become non-producing.
8. ATTRACTING SHARES
Agents are eligible to earn additional stock awards when they directly attract another agent to Real, and the attracted agent completes their first qualified transaction with a minimum GCI of $2,000.
Up to 19,000 Agents | |||
|
$12K CAP |
$6K CAP |
$4k CAP |
ATTRACTING AWARD |
75 SHARES |
35 SHARES |
25 SHARES |
All shares in this program are Restricted Stock Units (RSUs) and have a 3-year vesting period. Agents must remain in good standing throughout the vesting period.
If you have additional questions, please watch this video.
If you have additional questions, please email Support at supportCAD@therealbrokerage.com.
Comments
0 comments
Please sign in to leave a comment.