Gross Commission Income (GCI) refers to the total amount of commissions earned by a real estate agent or brokerage firm, before any expenses are deducted.
Full definition
It's also critical to track which leads are converted to clients so that you can calculate the true cost of each lead per dollar
of gross commission income earned.
The first is constructing a plan that flows from the gross revenue goal or
gross commission income goal all the way down to the number of appointments that need to be booked.
The splits to the brokerage are set annually as a percentage
of gross commission income, and there's flexibility in how the percentage is set.
Paul Rushforth, a sales rep with Keller Williams Ottawa Realty, says the systems and ideas that Proctor teaches were «a major factor in achieving the status of # 1 agent worldwide
for gross commission income for Keller Williams for 2009 and the top selling agent in Ottawa for 2009, selling 315 homes.»
The best way is to structure a transaction wherein a significant portion — 20 percent to 50 percent — of the purchase price is paid in installments based
on gross commission income (GCI) over a two - to five - year period.
For example, after an agent inputs his or her
annual gross commission income goal, the system suggests a prioritized set of tasks to complete based on their MLS activity and the number of people in their sales flow to meet their sales target.
The top agents
by gross commission income are Jason Soprovich of Prudential Sussex Realty, West Vancouver; Brock Smeaton, also of Prudential Sussex Realty; and Stella Price, Prudential Sterling Realty, Burnaby, B.C. Top agents by units are Jose Bairos, Prudential Grand Valley Realty, Cambridge, Ont.; Stella Price; and Sophia Tan, Prudential Achievers Realty, Scarborough, Ont.
A sponsoring Sales Associate is only eligible for referral fee commissions on closed transactions when the recruited Sales Associate is showing as the Lead Sales Associate versus the Team Leader; thereby
receiving Gross Commission Income.
Because of eXp Realty's low overheads and an aggressive revenue - sharing and equity ownership model that «pays agents a percentage of
gross commission income earned by fellow real estate professionals who they attract into the company», according to their website, its growth trajectory rocketed to 2,000 agents by fall 2016.
Gordon Harmon of Prudential Sussex Realty in West Vancouver was awarded the title for both the highest
residential gross commission income (CGI) by any office and the highest number of residential unit sales by any office.
Commission earnings will be equal to 2 % of the recruited Sales Associate's
Gross Commission Income per year on transactions that close during the two - year period following the recruited Sales Associate's date of association.
Comparing the average annual performance of the company from 2004 — 2005 (Before the shift in the U.S. real estate market) to 2006 — 2008, Keller Williams Realty says it increased its associate count by 52 per cent, while market share for its offices increased 83 per cent and
agent gross commission income went up 35 per cent.
The day - long course is based on Dunsten's interviews with top producers across the country who have
increased gross commission income through effectively deploying social media.
Sales associates share in office
gross commission income based on the number of associates they recruit, as well as the number of associates their recruits recruit (up to seven levels).
The Rookie of the Year, awarded to the sales rep who is new to real estate and achieves the highest
closed gross commission income and closed revenue units, went to Donald Rivers of Coldwell Banker All Points — Festival City Realty in Goderich, Ont.
RISMEDIA, June 4, 2014 — Neil Libin of Real Living Lifestyles has ranked fourth in
individual gross commission income and tenth in individual transactions closed in 2013.
Sophia Tan of Prudential Achievers Realty in Scarborough was the number one sales professional for 2001 in Canada (
GCI gross commission income).
There's no stated norms in what a brokerage should be spending on technology, but 3 percent to 6 percent of
gross commission income seems to be the range most allow for, Nicholas says.
The Member Profile indicates that rookies make considerably
less gross commission income than those who've been in the business longer than five years.
As a result, the associate supported by the team would more quickly get to keep a greater share of
gross commission income even while generating far more overhead costs to the brokerage, which had to support the team members with desk space and supplies.
You can help here by reporting to your associates their
exact gross commission income over the previous two years, enabling them to calculate their monthly average income and determine the amount of benefits they're entitled to.
* GCI is defined
as gross commission income to the company, i.e. the amount of check going to company, which may be inconsistent with the commission listed on the HUD statement.
realistiQâ $ ™ s proven real estate software and services will create and seize market opportunities, enhance productivity,
boost gross commission income and increase real estate agent retention rates.
'» The «all - for - one and one - for - all» philosophy hasn't hurt sales partners» motivation or their bottom line: On average, they made $ 230,000 in
gross commission income last year.
HSF, which says that the 26 committed firms represent more than $ 1 billion in
annual gross commission income, has been making preparations for the new brand's launch.
The Team Leader or Team Member are eligible for referral fee commissions on any closed transactions where the recruited Sales Associate is showing as the Lead Sales Associate; thereby
receiving Gross Commission Income.
The company's
gross commission income grew 60 percent in 1998, 135 percent in 1999, and 121 percent in 2000 and is on target for about 25 percent growth this year, Grupido says.
If that friend associates and makes sales, you can earn the equivalent of 2 % of the recruited Sales Associate's
Gross Commission Income per year on transactions that close during the two - year period following the recruited Sales Associate's date of association.
The company also says it has «an aggressive revenue sharing program that pays to agents a percentage
of gross commission income earned by fellow professionals who they attract into the company.»
RISMEDIA, July 21, 2014 — Tony Hanggie ranked # 3 in most transactions closed and # 6
in gross commission income for individuals at Real Living Lifestyles in 2013.
Six deals a year at an average commission of $ 11,000 equals $ 66,000 in
gross commission income.
Instead of
the gross commission income (GCI) model that's used by most large brands, Realty Executive agents can pay the company a per - month fee and a transaction fee upon closing each transaction.
With 265 agents, Keller Williams Ottawa was named the number one office in the entire Keller Williams system in terms of agent volume, number of units written and
gross commission income.
These purchases are pushing NRT, already the largest real estate company in the United States, to new heights for the year: an estimated $ 3.5 billion in
gross commission income, with about 38,000 sales associates in more than 750 offices in 24 metro markets.
After only seven years in the business, KW Ottawa's Paul Rushforth and his Rushforth Team were also honoured as the No. 1 team in the entire Keller Williams system for
gross commission income.
Now their company, with nine associates in three offices in the San Francisco Bay Area, is on track to generate $ 2 million in
gross commission income this year, up from $ 400,000 in 2003.
Some are franchises who (sometimes) have to pay a hefty fee to the franchise as a fixed monthly amount per salesperson or a percentage from the top of
the gross commission income.
To achieve this rapid growth, Realtysellers is offering brokers what it describes as a «revolutionary» office owner program, based on a percentage of
gross commission income — 10 per cent of the gross commission income up to $ 35,000 and five per cent over $ 35,000 — with no upfront or ongoing franchise fees.