From the June issue: In a bid to expand and attract new talent, the residential sales and rental brokerage Urban Sanctuary is switching to a 100 percent commission model, according to firm president Isaac Krispin. As of June 5, Krispin said, agents will no longer pay a percentage of each commission to the firm. Instead, they will pay a flat monthly fee of $99, as well as a transaction fee on each deal. The company, which currently has around 30 agents, aims to grow to several hundred in the next three years, he said. Krispin, who founded Urban Sanctuary in 2004, said he hopes the move will differentiate his firm from other brokerages.
“Agents are hopping from one company to another in search of a larger split,” he said. “If you have a 100 percent split … no one can compete with that.” [more]