It’s no secret that working in real estate is challenging and competitive, so it’s great to find a company that offers the optimal balance between challenging and rewarding.
A self-employed real estate agent has no boss. They are their own boss. They are not a salaried employee of a corporation. As a self-employed real estate agent, you will work as a team member. Your job is to sell real estate in a particular area. When you work for a company, your job title will include your company’s name. Suppose you are a self-employed real estate agent. In that case, you want to work with a company that delivers a great work environment and helps you succeed.
If you’re looking for a job in real estate, you might have come across Compass. Here’s what you need to know if you’re considering working for them.
Is Compass real estate a good company to work for? Although you will work on a self-employed basis, you can benefit from Compass’s technology to help the clients which you will find through them. So although you will work on a commission basis, like other real estate agents, you have the ongoing support that compass gives to their agents.
The technology that compass uses has machine learning capabilities and will help you find clients. Also, once you’re working with a client to sell their home, the AI technology can aid with pricing, so you can help your client set a realistic price, which they are happy with. The technology also helps with targeting the right clients and determining the best time to sell.
As a self-employed real estate agent, you will know how uncertain finances can be when you don’t have an employer and a guaranteed wage at the end of each month. While Compass attempted to set up a structure to pay their agents a salary, this didn’t work for many of them.
So, by sticking to commission rather than paying a salary, Compass gives you the chance to earn more money. Although you won’t have a guaranteed income, you can keep your earnings steady by working with more clients, which Compass and their technology help you to find and work with.
As with many self-employed people, it’s recommended you save money during your better months to compensate for any quieter months.
The money side of things should rarely be an issue because many of the listings Compass focuses on are in the higher-priced brackets. Therefore, the commission for successful sales is going to be higher. Combined with the number of clients you can potentially work with, your earnings are only limited by the commitment you can put into being a real estate agent. You will also receive training to help you get started with Compass.
The downside is you’re not guaranteed to be accepted. Although this is often the case with most jobs and self-employment opportunities, Compass is more selective than most. One example of this was in 2019 when they had over 140,000 applications but only took on the top 1%. By only taking on a select few, Compass guarantees the best agents for their clients. For you, this means more clients to work with, compared to if Compass had a higher acceptance rate. So, it’s worth applying, because working for them gives you access to more clients and unlimited earning potential.
As a self-employed real estate agent for Compass, you will be expected to put in the hours and deliver results for the clients you work with. This is to be expected with any self-employed role, and Compass has an outstanding track record of sales which speaks for itself.