On today's episode of RealTrending, Jerry Holden; THA brandshares their journey from a traditional brokerage model to a 100% commission transaction fee-based model. He talks about the challenges he faced in gaining recognition and trust in the industry and how he overcame them.
Jerry also emphasized the importance of coaching and training in improving agent productivity and shared his unique approach of paying agents for training. Jerry emphasizes the importance of continuous improvement and customer satisfaction in driving growth.
A summary of the learning content is as follows.
- Transitioning to a new business model can be difficult, but it can lead to increased agent retention and growth.
- Coaching and training programs can significantly increase agent productivity and success.
- You can increase the effectiveness of your training by paying your agents for training and providing accountability measures.
- Owning an affiliated mortgage or title company can provide an additional source of income and improve the customer experience.
- Continuous improvement, customer satisfaction and hard work are the keys to success in the real estate industry.
Here are some of today's interviews. The transcript below has been lightly edited for length and clarity.
tracy belt: To be honest, I had never heard of your company before, so I was very interested to learn more. Where do you operate and how did you decide on intermediaries and models?
Jerry Holden: Back in 2013, we hung our shingles and started with the following. Holden Agency. We were just a traditional 70/30 model. And after about five years, we found ourselves as trainers in the industry. We scaled up our people and they were doing well, but then we had another company pick us up.
Around 2018, we decided to look at a different model. Let's pivot. I wanted to make sure I had all the bells and whistles that the big companies have, but I really wanted a 100% commission transaction fee-based model to give agents and consumers flexibility. There it was. We figured it out and started in 2020. So for individual agents, it's a 100% commission-based transaction fee-based model. And after a certain amount of trades he takes 100% commission. There is also a team model.
The RealTrending Podcast features some of the brightest minds in real estate. Each week, brokerage leaders, top agents, team leaders, and industry experts share their secrets to success, trends, and lessons learned to navigate this ever-changing industry. Hosted by Tracy Belt, produced by Elissa Branch.
