4 ms·
They say in the article around half their yearly pay is in the form of bonuses from completed sales. I'm sure it looks a lot like commission.
by codemac 10y ago
They say in the article around half their yearly pay is in the form of bonuses from completed sales.
I'm sure it looks a lot like commission.
- niels_olson 10y agoThe difference being that would focus more on number of sales if their market doesn't have many high value properties.
- adamqureshi 10y agoRedfin agents receive bonuses for completed transactions that typically account for more than half of their annual compensation. Its a commission even when you don't call it that. See what happens to a sales person when she/he don't sell for a month.
- billmalarky 10y agoRight after your quote is pretty relevant info imo: |But a big factor in calculating the bonuses is the agent ratings provided by Redfin customers after they buy or sell a home. Top performers get stock options. |“I’m not going to lie — we’re motivated to sell homes,” Ms. Goetz said. “But it’s always in the context of the client and wanting them to have a good experience.” The model could reward agents who sell less but have higher ratings, since Redfin is concerned with building a brand.
- adamqureshi 10y agoYeah. I read that too. Uber does the same thing with drivers, When a driver gets a bad rating he gets less calls therefore makes less money. CX is a natural part of the sales process. You only get feedback on the deals you close therefore the more deals you close the more ratings you get. You don't close the deals with bad CX. It is in the best interest of the agent to provide a killer CX. IMO: You can be a nice guy and get great ratings, but if you don't close, you'll be canned quick fast.