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Redfin Publishes Commissions on Over 700,000 Homes for Sale
Redfin is now publishing the buyer's agent commission for over 700,000 home listings in regions where this data is available. Redfin's mission to redefine real estate in the consumer's favor means giving consumers access to the most transparent data and saving customers' money on fees. Publishing this data is possible because of an upcoming settlement agreement between the U.S. Department of Justice and the National Association of Realtors. Redfin was the first nationwide brokerage to publish the commission offered for its own agents' listings on its website. But prior to the DOJ/NAR agreement, the company was restricted from publishing the commission on other brokerages' listings.
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The Benefits of Advanced Commission Payment for Real Estate Agents, with eCommission
This month, David and Victor invited eCommission's Founder and CEO, Sean Whaling, to discuss today's market and his company. I was surprised to learn that many people have not heard about eCommission or understand the benefits of advanced commission payment service to brokers and MLSs. How eCommission works, in a nutshell: once an agent has an executed sales contract, they come to eCommission to receive an advance on their commission instead of waiting until the transaction closes. What is very impressive is that eCommission can turn around payment in a day—a lifesaver for agents who may need an influx of cash to keep their business stable.
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Comp Talks: Real Estate Agents (Part 1 of 2)
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How Integrating Quickbooks with Your Back Office Can Save You Thousands
If you've been paying attention to the back office tech space, you've probably noticed a lot of talk about Quickbooks integration, especially by solutions that serve small- and mid-sized brokerages. This market segment has been rolling out integrations with not just Quickbooks, but other popular accounting programs like Xero and Waveapp. Why? Well, once integrated, transaction data can move seamlessly between your back office platform and your accounting software. That means automatically cutting commission checks upon the close of a transaction, and never risking missed payments (mandatory for retaining top talent!). Brokers can also create invoices, sales receipts, and generate checks and 1099s. Integrating back office and financial systems can save even small brokers significant cash. Back office solution Brokermint estimates that brokers that close just 10 transactions per month can save at least $1200 per year with integration.
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