Glossary
What Is a Real Estate Brokerage?
A real estate brokerage is a firm where licensed real estate agents work. Every agent must "hang their license" at a brokerage — they can't operate independently without a broker's license. Brokerages provide agents with support, training, and legal oversight.
Brokerages range from large national franchises (Keller Williams, RE/MAX, Coldwell Banker) to independent local firms with a handful of agents.
How brokerages work
- A licensed broker (the brokerage owner) holds the firm's license - Individual agents work under the brokerage as independent contractors (not employees) - The brokerage typically takes a split of each agent's commission - Commission splits vary widely: 50/50, 70/30, 80/20, or 100% with a flat fee
Major brokerage models
- **Traditional:** Higher splits but more support, training, and leads (Keller Williams, Coldwell Banker) - **Discount/flat-fee:** 100% commission to agents who pay a monthly desk fee (eXp Realty, Real Broker) - **Boutique:** Small local firms with personalized service and flexible terms
Why brokerages care about agent data
Brokerages are one of the biggest buyers of agent contact databases. They use the data for recruiting — reaching out to agents at competing firms to pitch them on switching. A brokerage that can consistently recruit productive agents grows faster than one that relies on walk-ins and referrals.
Brokerage consolidation trend
The industry is consolidating. Compass acquired several regional firms. eXp and Real Broker grew rapidly with remote-first, high-split models. This competition makes agent recruitment data more valuable than ever.
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