For some weeks now, the Keller-Williams Realty marquee in the Junction has boasted that the office profit-shared $41,000 or so with its agents last year.
Admittedly, the only thing I know about real estate is what I learned when we bought our house more than a few years ago. But it seems to me that the whole business of real estate is about profit-sharing … the seller certainly shares his or her profits with the agents, via the commission. I remember being fairly grumped out all those years ago (pre-Internet) because I’d done all the research and used the agent for little more than paperwork assistance, yet she still got a multiple of my monthly salary out of the deal.
Not to begrudge the $ earned by the talented agents out there. I just don’t get the bit about the firm profit-sharing with its agents, and more to the point, why customers should care. Is it an attempt to sound warm, fuzzy, employee-friendly, like Costco and its Wal-Mart-beating benefits? (Which sends me on a tangent … the founder of Trader Joe’s has written a book, just spotted at the Westwood Village Barnes & Noble, and the only thing I learned from taking a quick look at it is that TJ’s is now foreign-owned! Yipes! Holy Dubai Ports, Batman!)
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