HOMEiZ.COM Real Estate Technology, The Real estate social network (HOMEiZ.COM)

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Rainmaker
611,146
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

If a broker had to pay miminum wage (or any salary) for their agents, they would not. 

Most would get fired.

Sounds good to me...

Eve

May 22, 2018 08:53 AM
Rainmaker
684,615
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

If there is going to be dollars coming out of a broker's pocket to pay salaries then there will be dollars reduced from paychecks for all sorts of new fees that the broker will need to charge to makeup for the loss. A steady salary sounds great but at what cost? I think I'd be better off if they just left it the way it is. 

May 22, 2018 09:50 AM
Rainmaker
4,116,793
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I don't pay much attention to California happenings... it's lala land as far as I'm concerned. I have no issues with being a commission based professional... helps weed out the wheat from the chaff.

May 22, 2018 09:55 AM
Rainmaker
1,722,955
Lyn Sims
Schaumburg, IL
Schaumburg Real Estate Agent Retired

2nd Q on this today. I say nonsense to it all.

May 22, 2018 09:51 AM
Rainmaker
4,209,382
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Californian has poor air quality which affects their thinking. Many of the 100% concepts are likely safe. Those that require floor time are on shakier gound but it will be a long time before it is challenged in most places.

May 22, 2018 09:26 AM
Rainmaker
4,099,156
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

These are interesting and ever-changing times. 

May 22, 2018 09:17 AM
Rainmaker
1,736,133
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

I doubt it but if it did maybe Brokers would finally be more selective about who they hire.... and release most of those they have now.

May 22, 2018 08:58 AM
Ambassador
4,257,353
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I'll be retired before this is even considered in North Carolina - we may as well be in a different country altogether! CA operates totally different than we do here on the east coast!

May 22, 2018 09:42 PM
Rainer
117,085
Christine Kankowski North SD and Temecula
House Match Inc - Poway, CA
Excellent Sales and Property Management

I think we pass all 3 tests, so we will remain commission.  We basically run our own businesses.  I think members of a team, who require certain number of hours in the office, or at specific open houses may need to prove autonomy, but for regular, awesome agents, like me, commission is perfect. :) 

May 22, 2018 12:39 PM
Rainmaker
910,796
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

We are and will continue to meet the A B C test. No minimum wage will apply.

Note: in California, when we think ABC we think Alcoholic Beverage Control...another government agency...in charge of issuing liquor licenses and enforcing the law re: minimum drinking age (21 in Ca.) among other things.

May 22, 2018 11:37 AM
Rainer
232,577
Byron K . Jones
Coatesville, PA
List Today - Sold Tomorrow!

Maybe NAR will stop this...ha..

May 22, 2018 11:02 AM
Rainmaker
556,588
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

If this became law, it would change the industry entirely. But this would have to go through the courts and I am sure it would be challenged.

May 22, 2018 10:53 AM
Ambassador
2,570,787
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

   Very few brokers, if any, are going to pay a salary to their salespeople.  

May 22, 2018 10:11 AM
Rainmaker
5,571,886
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

not likely.... I'd be shocked....

May 22, 2018 09:23 AM
Rainmaker
6,606,563
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This may be a good way to eliminate the surplus of several hundred thousand agents. Brokers will not be willing to pay them.

May 22, 2018 09:01 AM
Ambassador
3,055,932
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Interesting.  I enjoy my independence. 

May 23, 2018 08:49 AM
Rainmaker
3,331,280
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Leave it to California once again. I think most agents would get fired. Which may not be a bad thing. I actualy had to go through this test with the state of NH, a story i will share one day. It includes no mandatory hours, no mandatory floor time or no work outside of them taking care of their own clients. Selling real estate is a choice, it is a career decision where your choice of where you work will affect your ability to suceed.

May 23, 2018 05:17 AM
Rainmaker
4,799,491
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I think a lot of non-producing agents will be fired.

May 23, 2018 04:56 AM
Ambassador
5,408,079
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Govt always trying to destroy businesses, this one would backfire on them.

It will certainly prune the ranks of the profession, commissions will go up, Z will go broke, and consumers will suffer.

Not likely to happen.

May 22, 2018 08:52 PM
Ambassador
3,986,710
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I don't put much stock in what goes on in California. Most things are out of control there. 

May 22, 2018 07:09 PM
Rainmaker
3,466,165
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

HOMEiZ.COM HOMEiZGROUP an interesting decision.

May 22, 2018 04:37 PM
Rainmaker
5,586,557
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

I am with Lyn Sims .

May 22, 2018 02:31 PM
Rainmaker
527,095
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

California Dreamin'

May 22, 2018 01:45 PM
Rainmaker
401,785
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

It seems that a similar event took place with mortgage brokers. I believe the result was a tremendous cut in work force.

It they went to the minimum wage, then a broker would have to have agents that produced enough to cover that wage. Since the majority of agents don't produce, they would have to go.

It would work for the producing agents.

May 22, 2018 01:15 PM
Rainmaker
1,387,173
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Sounds to me like the redfin business model.  Agents there are employees with company provided phones, equipment, set hours, salaries and bonuses for "client happiness". 

 

I concur with the others here that say if brokerages had to become regular businesses and actually employ agents, there would be a massive shift and many agents would be homeless overnight.

May 22, 2018 12:42 PM
Rainmaker
508,283
Susie Kay
Ultra Real Estate Dallas Fort Worth - Plano, TX
North Dallas Specialist

If that happens I can see brokers starting to charge more for everything and be selective on their agents. 

May 22, 2018 10:14 AM
Rainmaker
849,960
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I heard an ad here recently advertising that agents were salaried employees, and that broker only charged $1000.00 listing fee.

May 22, 2018 10:10 AM
Rainmaker
535,339
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

I don't see how this would work in all honesty.   Yes if this happened you would have to be selective as to who you hire and train them well.  

May 22, 2018 09:56 AM
Ambassador
1,821,116
Alan May
Jameson Sotheby's International Realty - Evanston, IL
A moving experience!

I'd be surprised.

May 22, 2018 09:10 AM
Rainmaker
1,573,298
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

I am thinking the country as a whole is learning that Cali-world is not the model to be followed in business, government, or legal rulings.

May 23, 2018 05:04 AM
Rainmaker
1,216,674
Joyce Marsh
Joyce Marsh Real Estate LLC - Daytona Beach, FL
Joyce Marsh Real Estate LLC - Coast & Luxury

Not likely. 

May 22, 2018 01:32 PM
Rainmaker
4,042,729
Richard Weeks
Dallas, TX
REALTOR®, Broker

Why would this stupid ruling apply to other states?

May 22, 2018 12:13 PM
Rainmaker
1,921,264
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Had not heard of that before. Interesting. 

May 24, 2018 02:52 PM
Rainmaker
4,433,693
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thank you.

May 23, 2018 06:11 AM
Ambassador
4,312,759
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

HOMEiZ.COM HOMEiZGROUP - the difference between independent contractor and employee - the agents are supposed to be IC!

May 22, 2018 09:55 PM
Rainmaker
3,985,865
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

It may be the end of the part time agent that does just 2-3 deals a year.

May 22, 2018 08:58 PM
Rainmaker
1,153,675
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

It may limit new agents wanting to get into business. The best example was Zip realty or Redfin. The technology also will control how people will need realtors or not. 

If a law passes those eligible for medicare should not engage in a profession like real estate, there will be few if any realtors left.

May 22, 2018 06:07 PM
Rainmaker
2,641,652
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Too much regulation like too many chefs....spoil the broth

May 22, 2018 12:31 PM
Rainmaker
4,013,334
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Never Happen

 

May 28, 2018 03:36 PM
Rainmaker
4,938,383
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

We have brokerages and lenders paying wages versus commission here in Denver.

May 26, 2018 08:54 AM
Ambassador
971,771
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, MD, MT, NC, NJ, NV, OK, OR, PA, SC, TN, TX, UT, VA, WV - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

That would be fantastic ---- then we could have even more low paid employees in the industry offering substandard service under the guise of a 'discount'.  

Consumers would suffer, the deal or 2 a year these leeches will close will take business away from real professionals, but HEY!  Who cares, as long as we continue to give handouts to those who can't make it on their own, let's do it!

 

***having a very snarky kind of day here

May 23, 2018 01:54 PM