From the August issue: Many of the new firms now bursting onto the real estate scene promise the latest, greatest commission splits. But Edward Longley, a former City Connections Realty broker who launched the Hollingsworth Group last month, has a different approach.
“It’s not about the payout,” Longley told The Real Deal.
That may sound surprising coming from a five-year veteran of David Schlamm’s City Connections, one of the first real estate brokerages in the city to adopt a “100 percent commission” model.
But Longley, who named the new firm for his grandmother, said he has a longer-term approach. He envisions a boutique brokerage that operates more like a Fortune 500 company, with a clear corporate structure, salaries and profit sharing. He believes that when all is said and done, those strategies will generate even more income for agents than the high-commission-split models now popular in Manhattan. [more]
