One broker’s journey transitioning from a traditional to a transaction fee model
On today’s episode of RealTrending, Jerry Holden, founder of THA Brands, shares his journey of transitioning from a traditional brokerage model to a 100% commission transaction fee-based model. He discusses the challenges he faced in gaining recognition and credibility in the industry and how he overcame them.
Jerry also highlights the importance of coaching and training in boosting agent productivity and shares his unique approach of paying agents to train. Jerry emphasizes the significance of continuous improvement and customer satisfaction in driving growth.
Here’s a glimpse of what you’ll learn:
- Transitioning to a new business model can be challenging but can lead to increased agent retention and growth.
- Coaching and training programs can significantly improve agent productivity and success.
- Paying agents to train and providing accountability measures can enhance training effectiveness.
- Owning affiliated mortgage and title companies can provide additional income streams and improve customer experience.
- Continuous improvement, customer satisfaction, and hard work are key to success in the real estate industry.
Here’s a small preview of today’s interview. The transcript below has been lightly edited for length and clarity:
Tracey Velt: I have to admit, I had never heard of your company before, so I was really interested in learning more. Tell me about where you operate and how you came to deciding on the brokerage and the model.
Jerry Holden: Back in 2013, we hung our shingle and we began with The Holden Agency. We were just your traditional 70/30 model, brick and mortar. And we found out that real quick, in about five years, that we were the industry trainer. We were getting people scaled up, they were doing well, then we’d have another company come pick us off.
In about 2018, we decided, you know what, let’s look at a different model. Let’s pivot. I wanted to make sure that I had all the bells and whistles that the big boys have, but I really wanted to be the 100% commission transaction fee-based model, that way there’s flexibility with our agents and consumers. We figured it out and we started in 2020. So, for individual agents, we’re 100% commission transaction fee based model. And then you’re 100% commission after a certain amount of transactions. We have team models, as well.
The RealTrending podcast features the brightest minds in real estate. Every week, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch.