How to Increase Your Gross Commission Income in Real Estate

Every real estate agent is familiar with the importance of growing their gross commission income (GCI). GCI is the money a real estate agent makes before expenses, brokerage splits, and taxes. For agents to continue to be successful, they need to set goals to grow their GCI. Here are some ways to make it happen:

Increase the Number of Transactions You Close

Well, duh…this is pretty straight forward. However, how you increase the transactions is what needs to be focused on. Putting in the work and planning for your marketing and lead development will help you secure more deals. Here is a great blog on how to increase those qualified leads which will in turn equal a higher GCI. Are you using social media to its fullest extent? What about online advertising? How old are your leads, and is it worth purchasing a new list? These are all questions you can begin asking to strengthen your approach to capturing new prospects and turning them into clients.

Let’s Talk Negotiation

Part of the real estate transaction is negotiating a split with the brokerage. Are you happy with your current percentage? Is it worth discussing a change or looking into different brokerage options? These are steps you can take to ensure you feel comfortable with the current split to your commission. But remember, both parties need to be happy, and you never want to burn a bridge just to increase your GCI.

Aim for Higher Priced Home Sales

It’s easy to understand that if a home sells for more money, than the commission reflected will also be higher. Take a look at your current portfolio and calculate your average home sale price. Now set a goal to target homes that will sell for 25 to 50 percent higher. How can you do this? Look into targeted marketing for prospects that are in areas you know are more upscale. Making small changes to the content and language you use for marketing efforts based on your audience could have a huge impact in attracting clientele with a larger price point. And that means a higher GCI for you.

Put Time and Money into Marketing and Branding

In real estate, your brand is everything. With so many real estate agents to compete with, it’s important you invest in the resources to reach and secure clients. Successful real estate agents have a strong presence in the market they are seeking to do business. Most have an extremely engaging social media presence. They couple this with effective direct marketing efforts. Many are adding AI and chatbot technology to their websites to allow for direct lead capturing/communication efforts. In the end, to be successful and really increase your GCI you have to invest in a solid marketing and branding strategy.

No matter how the real estate market changes, gross commission income will always be an important driving factor in real estate agents’ business strategies. By implementing some of these tips, you can begin to increase your GCI.

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