At Wit Realty,
We firmly believe that the success of our business hinges on the success of our agents. That's why we're always on the lookout for agents who bring their unique skills, wisdom, and integrity to their real estate business, earning the trust of their clients and building strong, lasting relationships.Our collaborative and innovative work environment is designed to foster growth and success for all our agents. We offer cutting-edge technology and marketing tools, as well as support to help our agents stay at the top of their game and provide the best possible service to their clients.We also offer a transaction-based fee structure to our agents, which can provide significant savings compared to other firms. This means you can keep more of your hard-earned commission and reinvest it in growing your business. Please see our fee structure below, and don't hesitate to contact us with any questions you may have.
Thank you for considering Wit Realty as your brokerage of choice.
We're excited to hear from you soon and work together to build a successful real estate career!
Services We Offer To Agents
✔ Individual support from an experienced and caring broker-in-charge
✔ Best in class Transaction Management and contract writing software (SkySlope)
✔ Top-notch Website provider with free website support
✔ Intuitive easy to use CRM
✔ Collaborative office tools to keep in touch with fellow agents
✔ Regular social gatherings
✔ A environment of helpful caring and supportive friends
✔ 100% Commission based transaction fee model
✔ Only $500 per transaction capping at 12 transactions per year and then only $200 after that
✔ Minimal $500 annual fee that covers E&O insurance and the transaction management system
FEE STRUCTURE
GENERAL BROKERAGE FEES:
Wit Realty agents receive 100% of the commissions they earn on their real estate transactions minus the applicable fees below.
Annual Fee: $500
Once a year starting on the date an agent joins Wit Realty, and every anniversary year thereafter, they pay a $500 annual fee which is due upon the closing of their first transaction of the year or before the end of that year if they have not yet closed a transaction at that time.
Standard Transaction Fee: $500 or 25%, whichever is less
On the first twelve (12) transactions* of the year after they join Wit Realty, and every anniversary year thereafter, agents pay a $500 transaction fee on each real estate sales or lease transaction that results in a gross commission of more than $2,000. If the commission earned is less than $2,000 then the minimum fee paid will be 25% of the commission earned. *Each side of a closing is considered as a transaction so if you are a dual agent on a transaction, there will be two transaction fees on that closing. Fees received that are less than $500 on any transaction do not count towards the number of transactions that are needed to close before being “capped” However, agents may elect to pay a full $500 fee so that it counts towards their cap.
Reduced “Capped” Transaction Fee: $200
In their first year and every anniversary year thereafter, after an agent has closed twelve (12) real estate transactions then they will be “capped” for the remainder of that year and only pay a $200 transaction fee for any additional closings during that year.
Referral or Lease Transaction Fee: $100 or 25%, whichever is less
The fee on referral or lease fees received by an agent is $100 or 25% of the fee received, whichever is less. This does not include long-term leases on commercial property.
Commercial Transaction Fee: 7.5% of the commission earned plus $500
On all commercial transactions the fee payable to Wit Realty is equal to 7.5% of the gross commission earned plus $500. Commercial transaction fees count towards the twelve (12) transactions that are needed to become “capped”. However, there is no reduced fee on commercial transactions if an agent is capped.
OTHER FEES:
Franchise Fee: $0
Wit Realty is a small independent brokerage; It is not a franchisee. There is no corporate entity skimming off the top of the money agents earn.
Monthly Fee: $0
Agents are not charged any monthly fees unless they decide to sign up for an optional service that Wit Realty may make available to them such as a website or CRM.
Onboarding Fee: $0
If an agent just decided to work with Wit, congratulations are in order, not an additional fee!
Additional Fee for buying or selling your own home: $0
If an agent bought or sold their own property, congratulations are in order, not an additional fee!
Additional Fee for being a dual agent on a transaction: $0
Some firms charge an extra fee if an agent represents both a buyer and a seller in a transaction. Wit doesn’t think this is proper since the agent has already agreed to pay two transaction fees on the closing, one for each side of the transaction.
Additional Fee for high-value properties: $0
If an agent just helped someone buy or sell a multi-million-dollar property, congratulations are in order, not an additional fee!
Fee for Website & CRM: $300 annually or $25 per month
Many agents either already have their own website and CRM software that they use or they don’t want to pay extra for something that they won’t use. That is why Wit Realty decided to make access to a customizable website and CRM software optional to its agents. These services are available for an additional fee of $300 per year or $25 per month.
FEE STRUCTURE FOR REAL ESTATE TEAMS:
PLEASE CONTACT US FOR INFORMATION ON OUR FEE STRUCTURE IF YOU RUN A TEAM.
