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Court Cunningham believes homebuyers and sellers, not agents, are the true customers in the real estate industry. “At Orchard, our customer is the consumer,” Cunningham said, referring to the company he co-founded and leads as CEO. “They’re paying Orchard they’re not paying the agent.” Cunningham made the comments Thursday during an Inman Connect panel dubbed “the Rise of the Neo-Brokers.” The panel also included Mike Peregrina, co-founder and chief financial officer for Homie. In many ways, the panel was an extension of a somewhat intense conversation a day earlier between Redfin CEO Glenn Kelman and Keller Williams President Josh Team. During that session, the two executives debated the pros and cons of paying agents on salary verses having them work on commission. Kelman advocated for the salary model, and for treating buyers and sellers as the customer. Team, on the other hand, argued in favor of commissions and said agents were his company’s prim ....
Employees or contractors? KW, Redfin execs debate philosophy During Inman Connect, Redfin s Glenn Kelman and Keller Williams Josh Team forcefully defended their companies respective approaches to agent employment Clockwise from top left, moderator Clelia Warburg Peters, Keller Williams President Josh Team and Redfin CEO Kelman at Inman Connect. Inman From: Inman Connect . Here’s a question about real estate philosophy: Is it better to pay agents a salary, thus ensuring everyone at a company makes a decent wage but also potentially limiting how much top earners bring home? Or is the commission model better because there’s theoretically no cap on earnings, even if lower performers don’t make as much? ....
Join us for engaging discussions about: How to protect your commissions What’s next for property search and digital transactions The evolving role of the agent How to create and maximize your 2021 social media plan How to take advantage of market momentum What to expect the market to look like during the coming months How to best guide clients through the process and how to ensure success The future of iBuying Engage with Your Peers You’ll have plenty of opportunities to connect and collaborate: coffee conversations, virtual roundtables, 1:1 meetings, virtual cocktail receptions, and more. Stay in touch with friends old and new. ....
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Real estate technology vendor Smarter Agent is reportedly shutting down its popular mobile application platform that allows brokers and agents to create branded real estate search apps, Inman has learned. The company has been owned by real estate franchisor Keller Williams since 2018. “Earlier this week, Keller Williams-owned Smarter Agent announced a plan to discontinue its dedicated Smarter Agent app,” Darryl Frost, a spokesperson for Keller Williams, told Inman. “Smarter Agent will continue to service existing client agreements through their expiration.” “Smarter Agent users have been notified of the planned service changes.” In an email to clients obtained by Inman, Smarter Agent confirms it will continue to honor client contracts until the agreement in place ends, at which time the agreement will expire and services will end. ....