How to attract and retain talent, motivate your team and speed up your business.
Here’s how it works.
The real estate industry started to really kick off in the late 1800s in countries like Australia and The United States. Over that time it has matured, to be one of the most technologically advanced industries in the world. But there is one thing that has stayed the same since the beginning, and that’s the way that real estate agents are remunerated. Over 100 years ago the world ran at a much more sedate pace, nowadays we live in an instant gratification society.....and that’s where PC-Factoring comes into play.
The old system of remunerating agents is to pay their commissions upon settlement (6 weeks after the deal is done), however the best way to remunerate agents in the world today is to pay them upon exchange (straight after the deal is done). The benefits of paying agents in this fashion far outweigh the negatives.......and the great news is that for the owners of the agencies the benefits are even more pronounced.
For business owners that means your commission is paid to you within 24 hours of your agents sales exchanging unconditionally. As the boss you have the choice as to when you pay your team their commissions, it may be upon settlement or upon exchange, the choice is yours. So for a business owner you gain access to your commissions immediately, negating the need for costly overdrafts and never falling into the trap of scrambling for cash flow when you need it most.
The key benefits:
- An excellent recruitment strategy for agency owners
- More motivated staff because of the instant gratification and reward for agents
- You can better handle your cash flow and negate the need for an overdraft