Deleon Realty ends the benefit of double ending

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There is he regular service and Deleon Platinum for 5m+!

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As a realtor, would you join Deleon as a salaried agent?

I am not sure whether Deleon can expand successfully. They are starting a price war with this zero buyer commission. Maybe it’s a desperate move for expansion and scaling. RE brokerage is not a good business to scale up, look at Redfin.

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Call it what you will, but they are forcing others to up their game. They aren’t just relying on the old tactics to win their market. They are big enough that if they advertise what they are doing it matters. The move of the brokerage not double dipping is big. It will hit their pocket book. I welcome the announcement because of the move towards fewer conflicts of interest.

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Last time I looked at Deleon’s agent profiles most of them have advanced degrees like JD, MBA and PhD’s from fancy schools. I don’t think they will hire anyone who knocks on their doors.

Brokerage is a very lucrative business. Berkshire Hathaway’s brokerage arm accounts for 1% of the firm’s profit. That’s pretty big deal, having started not even 10 years ago. It obeys the power law, meaning a handful of agents account for vast majority of the profit. Redfin’s problem is that it fancies itself as a tech company, not a real estate firm. Its CEO keeps talking about its tech prowess but says nothing about his agents. He put the cart in front of the horse and it shows.

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[quote=“manch, post:24, topic:2226, full:true”]Redfin’s problem is that … put the cart in front of the horse
[/quote]
cart -> semi-autonomous vehicle
RE -> slippery slope

Personally, I see a conflict of interest with both buyer and seller in the hands of the same company.

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Advanced degree does not correlate with sales skills and customer service skills. If I am a good realtor, I would like commission over salary. If I want a salaried job, there are too many good jobs with better benefit than Deleon.

Not saying that it’s a failure to settle on a salaried real estate job after a JD/PhD, but I would choose a better salaried job with a JD/PhD