We recently had a transaction in our office where we received a cheque from a Brokerage’s Commission Trust Account and 2 days later it was Stopped. We immediately called RECO and TREB and much to our disappointment, our agent will not be paid on this transaction until the investigation is complete and funds are all allocated for. This process may take up to a year.
What happens next??
We have to go through the process of filing and waiting in line. Being a Broker is not easy and most salespeople are just that….great salespeople and not managers. Successful agents should continue to put their strengths to work. After all this is what they do best. So called brands promising a piece of the sky is very misleading.
It’s definitely something that we haven’t seen for many years and I know that many of our newer agents never seen in their career. It matters to be with a company that’s financially strong and a long term established Brokerage like ours. It usually happens to the biggest and the smallest. Now remaining realistic, this could happen in any market however the reason why I’m also sharing this with you is because now is the time to go after market share, leverage/ use the RE/MAX Brand and grow your business.
Our admin is busy and our agents are active. Our numbers don’t lie. We had 6 transactions handed in just today. Did you get yours? Are you doing Open Houses? Are you calling your database? The market is fundamentally strong as well and TREB released the latest insight of the market. Please visit TorontoMLS, research the market watch that is also on our web site.
RE/MAX Ultimate Realty Inc., Brokerage