News and advice
How to maintain your GCI in the current market
As we have recently seen across the country, the market is changing quickly. If you aren’t already thinking about contingency plans to protect yourself, now is the time to start. With the market shifting, it’s more important than ever to focus on keeping more of your commission and standing out from the crowd to attract more listings. There is no better way to do this than by working for yourself & building your own brand.
The current market is scary for agents because if turnover drops by 30% then your income will also drop by 30%. With the average downturn lasting for 16 months, you need to ask yourself if you can afford to make 30% less, for this amount of time?
But, even in the current market, with a drop-off in listings, you could still be 10-20% better off than the previous 12-18 months by launching your own business, so let that sink in.
So, what’s the proof? By launching your own business, powered by UrbanX, you will be able to take home up to 90% of your GCI, significantly more than staying with a franchise. By keeping up to 40% more of your commission, even with a 20-30% drop-off in sales, you will still be better off. Therefore, even if the market falls, you won’t feel it.
Now more than ever, agents need to focus on how they can protect themselves and put plans in place to make it through this challenging period.
As we have seen before, when the market starts to shift, there are a number of agents who leave the industry, because they can’t afford to continue. For those who are able to protect themselves and stand out from the crowd, they will be able to increase their market share and set themselves up for future success, when the market comes out of the downtime.
The question that agents need to answer is, can you afford to keep giving away 50% of your commission?
The choice is yours, so don’t get left behind.