Dallas, TX – Research released early last week unveiled that United Real Estate (United) pays its agents more than any other national brokerage – 96% of total gross commission earned. Notably, the residential brokerage is able to do so while also delivering a full complement of agent productivity tools, lead-generation, training and brokerage support to its tech-enabled base.
The
findings were unveiled in a study released on Monday by Mike
DelPrete, a real
estate tech strategist, author and consultant whose evidence-based analysis is
widely read by global leaders. The independently verified data in the report examines
agent compensation at the top U.S.
brokerages. DelPrete’s
analysis shows that brokerages keep from 4 percent up to 23 percent of what
agents earn in their home sale transactions. Especially important to note: the
top five brokerages that grew agent count during the period were those who paid
agents the highest percentage.
Source: Agent
Compensation at the Top U.S. Brokerages
June 05, 2023 Mike DelPrete
United’s
technology strategy is a boon for the agents it serves. Significant
efficiencies were created by developing its proprietary technology platform,
Bullseye™ Cloud. The software’s core was developed in-house with the addition of
best-in-class plugin engines procured efficiently at no cost to its agents. It has
allowed the company to save and return tens of millions of more dollars to its
agents from their transactions that legacy brokerage models would otherwise
extract as agent commission splits and fees. The firm
is able to deliver all the services and brokerage support agents need while
retaining only 4% of transaction earnings from home sales. Operating profitability
on an incredibly thin margin is made possible through scale and volume. Since
2019, United has experienced a 268% growth in agent count and an 826% increase
in revenues. According to unadjusted GAAP EBITDA reported by publicly traded
peers, United believes it was more profitable in 2022 than any other
competitor.
“Next-generation brokerage models that prioritize technology and maximize agent compensation now provide equal or superior services compared to traditional commission-split models. Understandably, agents are migrating to where they receive better compensation and all the services required to grow their business. United was purpose-built to scale without increasing costs as we add agents. That competitive advantage allows us to continue to invest in agent services, innovation and agent compensation in any market cycle. We are making significant investments while other real estate brokerages are scaling back or stagnating,” commented Dan Duffy, Chief Executive Officer of United Real Estate Group.
“United’s
mission is to improve the financial trajectory of our agents’ careers and sometimes
their lives. It informs every decision and every initiative in which we engage.
We are laser-focused on our promise to create better outcomes for our agents
and their clients. Our operations and executive teams have invested an
incredible amount of energy and dedication to deliver on this promise while
making sure we don’t overburden the finances of the organization. We’ve
developed superior agent services complemented by the industry’s best
compensation. To have our staff and leadership recognized for the achievement
is truly rewarding,” stated Rick Haase, President of United Real Estate.
To learn
more about United Real Estate, brokerage succession planning, brokerage
valuation and sale or franchising opportunities, visit GrowWithUnited.com or call 888-960-0606. Agents
interested in learning about career opportunities with United Real Estate can
visit JoinUnitedRealEstate.com or call 888-960-0606.
About
United Real Estate
United Real Estate (United) – a division of United
Real Estate Group – was founded with the purpose of offering solutions to real
estate brokers and agents in the rapidly changing real estate brokerage
industry. United provides the latest training, marketing and technology tools
to agents and brokers under a flat-fee, transaction-based agent commission
model. By leveraging the company’s proprietary cloud-based Bullseye™ Agent
& Broker Productivity Platform, United delivers a more profitable outcome for
agents and brokers. United Real Estate operates in 33 states with 148 offices
and 18,500 agents. The company produced over 77,900 transactions and $27.9
billion in sales volume in 2022.
About
United Real Estate Group
United Real Estate Group (UREG) operates United Real Estate
and United Country Real Estate, addressing the unique market needs of suburban,
major metropolitan urban and rural markets. Utilizing the cloud-based Bullseye™
Agent & Broker Productivity Platform, UREG offers the latest training,
marketing and technology tools producing a significant competitive advantage.
The platform realizes a decade-long investment in virtual agent and brokerage
technology services and is powered by a 2.6 million listings data warehouse
generating over 3 million monthly visitors and 30,000 leads per year. Together,
the United Real Estate Group supports more than 630 offices and over 21,000
real estate and auction professionals across four continents. United Real
Estate Group produced over $34.4 billion in 2022. Through its in-house
advertising agency, UREG offers differentiating marketing support and
collateral for specialized lifestyle property websites as well as access to a
650,000+ opt-in buyer database. For more information about United Real Estate
or United Country Real Estate, please visit UnitedRealEstate.com or UnitedCountry.com.