How Internet Smash The Business Model Of Old Real Estate Brokerage?
A few years ago, people don't hear of what the internet is. The internet becomes the most influenced technology. it changed people's behavior, their way of thinking, and how they interpret the world. Online business of real estate has become very popular because of the internet. The internet is taking the real estate industry by storm. 100% commission / flat fee virtual online real estate brokers also changing the old brick and mortar business model of doing real estate. The cold hard truth is this; brick & mortar brokerages no longer have anything to offer agents. The Agents can get much more by working online. That's why old-style real estate companies unable to take an agent's commission anymore.
There isn't much business left anymore that isn't conducted online. Who would have thought of buying insurance, buying clothes, studies, planning vacations, buying plane tickets, buying cars, holding business meetings, and now even doctor appointments online? So, it is not surprising to think that the day would come when real estate would be all done online as well.
Because of the internet, old real estate brokerages no longer have much to offer their agents. Agents don't need to follow schedules of meetings. They don’t have to drive to the office, no need to meet the clients, and advertise someone's business. They also don’t have to give a big chunk of commission to the broker’s pocket. Agents now prefer the virtual online model of real estate brokers. And to make more money they are joining 100% commission online real estate brokerage. Where they can keep all their commission.
100% commission virtual online brokerage changed everything. Now agents don't want to be under the inspection of their brokers. They want to work tension-free and enjoy a cup of coffee at their own place but not in the office with co-workers.