WASHINGTON D.C., November 18, 2020 - Last year real estate agents lost more than half a trillion dollars in commission splits to their brokers. Still, real estate tech companies such as Zillow, Compass, and Redfin, claim that they're “innovating the world,” “building the future of real estate.” But are they? The driving force of the industry – real estate agents – continue to have rough times with existing limitations, commission splits, and other demands. If these trends continue to evolve, the real estate industry may simply crash.
Federa decided to take up this challenge and eliminate the existing waste. The company found a solution, offering a zero-cost option to all agents. This may be a change the real estate industry was waiting for.
No matter which existing brokerages we choose, all require agents to pay thousands of dollars – sometimes even up to the 6 digit price range – only to receive leads from their brokerage. Add to this hefty commission splits and high fees, and you'll get a picture that faintly reminds of the medieval Feudal system, when the lords took from their vassals everything, promising them protection and means of livelihood.
Instead of making hollow promises, Federa focused on finding the global solution and today launched its new platform – Smart Agent. By cutting the waste, Federa managed to offer agents an option to pay their brokerage absolutely nothing.
“If agents already have clients and they only need a brokerage, we'll be their brokerage for free,” says Federa’s Managing Director of Partner Success, Anna Yankovska. “This can more than double the income of agents who are currently giving up to 60% of their earnings to their brokerages.”
The second option, Pro Agent, is for those who already have the clients, looking for a brokerage with technology to work with. Costing less than $100 per month with a small closing fee. Third option, Federa Specialists, who will get the brokerage platform, technology, and a growing list of clients. Specialists keep a little over 60% of their commissions with less than 40% going to Federa's platform.
Federa will now operate worldwide, the prices will vary from country to country according to the demand, currency, and local regulations. Ensuring a fair and balanced market for all Federa’s agents and partners worldwide.
Federa earned its growing reputation by its first true digital solution for sellers introduced in 2015. “Smart Listings was a fully digital service for selling homes that everyone wanted even before the pandemic. After the outbreak, we suddenly became the only solution that everyone needed,” says Federa’s Executive Managing Director, Jhenifer Rojas.
“This is going to be one of the largest hiring campaigns in history,” says Artin Afsharjavan, Federa’s Global Director. As millions of agents will benefit greatly from the Smart Agent platform, the real estate industry may finally enter the new prosperity era so many companies were only promising.
Are you a Smart Agent?