HomeSmart

HomeSmart
3.45
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/ based on 11 reviews

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3.45/5

based on 11 reviews

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  • 1 Bad
  • 0 Terrible
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The transaction fees at HomeSmart were very high, and the leads have dried up. There was very little support from them which is why I want a change. I paid $300 annually plus $350 per transaction. Moved on to a new brokerage with more personal mentorship.

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Phoenix

I do think it's a very positive environment, but I am looking at leaving. There's low volume with HomeSmart, which is why I'm looking for a change. There are no leads and I've lost some of my sphere of influence.

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I was with HomeSmart in Atlanta in 2019, and didn't get a lot of interaction from them. I left to go into the commercial side of the business. I did get certified for commercial real estate, but my broker referred all commercial deals out, which frustrated me a bit.

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I oversaw the entire day to day operations for my division. The commission splits were fine and I grossed $150,000+ per year. I didn't think there was a major support system in place, or that there were the right tools to succeed. My personal real estate sales really took off at HomeSmart but I have noticed limitations with the brokerage in providing continued growth.

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I've been with HomeSmart since 2016. My volume is over $7 million for the last couple of years. My transaction fees are only $400 with a small monthly fee. I don't really feel like they challenge me enough. I would like to be busier (more leads would be ideal).

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I decided to leave HomeSmart. It was a great brokerage, but new agents are left on their own. No leads or support. 100% commission with $399 transaction fees. And $75 quarterly to hang your license.

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I was with HomeSmart Realty in Sacramento. Quite simply, the leads promised and commission promised on paper to me were not met.

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Homestart provided no leads, which didn't help at all with my desire to ultimately transition to real estate full time. I ultimately made the decision to move on to a more supportive environment with lead generation opportunities.

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This is a very traditional brokerage (Theres no support or leads to assist an agent to grow their portfolio). On top of that, theres poor communication. 80/20 split.

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They're a great brokerage, but I'm always on my own. There are not many leads or support from them. $399 transaction fee and $75 quarterly to hang your license.

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I'm not unhappy with the brokerage, but my mentor who recruited me to join HomeSmart is so busy, that he doesn't spend much time with me. I do a lot of networking and try to stay proactive with getting and generating leads (tried Zillow and had a bad experience with them...). More consistency would be helpful.

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About

About HomeSmart RealtyGroup

HomeSmart is a full-service brokerage – providing end-to-end transaction management & free technology – at the same time granting agents a 100% commission split. HomeSmart Realty Group is the brainchild of Matt Widdows, who launched the company in 2000, with only two other agents. They have over 18,000 agents, and they hold the title of the largest real estate company in Arizona. 

The backbone of the company has been technology and innovation. Widdows had prior tech experience before founding the company, in addition to working as an agent in the ’90s in an industry with no established systems. 

HomeSmart doesn’t charge agents any fees to use their proprietary software. They have taken an approach many agents are receptive to, with their low-fee model. 

Quick Facts

  • Agents keep 100% of their commission.
  • It’s a high-service brokerage, meaning that it helps facilitates transactions from start-to-finish.
  • HomeSmart largely relies on proprietary technology and tools. 
  • It’s the largest 100% commission brokerage in the US.
  • In Phoenix, it’s the number one brokerage in terms of sales volume. It has dominated this market since 2012.
  • It was among the first brokerages to implement a paperless transaction system.

HomeSmart Realty Commission Split 

How is it that a brokerage can survive while awarding agents all of the commissions? Well, they survive on fees. HomeSmart realty agent fees include: 

Transaction fee: On each transaction, there is a flat fee of $495. Is it high? Yes, it is, but remember, you keep all your commission. For instance, if you were at a brokerage with a 70/30 split and made $5000 in commissions, you’d pay about $1500. 

Monthly fee: The on-going monthly cost is only $49, which is a very cheap rate that’s not common with 100% brokerages. Many traditional brokerages charge much more.

Working at HomeSmart Realty Group

Many agents describe that they work remotely from a home office on most days. Brokers are on hand to offer support. The company has been described as honest & transparent. 

The offices have nice settings, good conference rooms, and lots of freebies like coffee, WIFI, shared cubicles, etc. Agents also generally have positive feedback about the training. 

Which tools do agents use at HomeSmart Realty Group? 

The most important tool you will work with as an agent is the RealSmart Agent app.

Features of the RealSmart Agent Software

  • Most importantly, it gives the agents the ability to work from anywhere since it’s an online application & portal.
  • Allows agents to access training and educational resources.
  • Tracks transactions.
  • Customer management relationship software (CRM).
  • Helps agents create current market analysis reports.
  • Has a suite of marketing tools and free downloadable templates.
  • Enables agents to build branded websites.

The company also offers a RealSmart Agent phone app. It has innovative features like the ability to create listings. If you’re an employing broker or franchisee, the company provides the RealSmart Broker platform. Its primary role is to help manage an office, and it comes with features like agent communication, paperless transaction system, and more.

HomeSmart Resources, Events, & Education

The HomeSmart Growth Summit is a yearly event that brings together agents from all states. They connect, learn, and grow together.

Many agents also like that the brokerage provides continuing education via the HomeSmart University. There are instructor-led online live classroom sessions and pre-recorded videos. They also have pre-licensing courses for aspiring real estate agents.

FAQs

HomeSmart has one of the simplest fee structures of any large brokerage.  They take $495 per transaction, plus a small fee of $49 per month.

Although it can vary by location, generally, there is no real commission split paid to the brokerage per se.

Low monthly fees & high commission splits: This is the primary reason people join HomeSmart – the economics make sense.

Client-first approach: Clients get access to the HomeSmart software. For their convenience, it provides neighborhood data, market analysis, market trends data, etc. 

Nationwide network: As a fast-growing brokerage franchise, HomeSmart is present in about 29 states. 

Innovative tech: Benefit from their in-house paperless transaction system, CRM, marketing resources, etc. at no cost.

Agent benefits: As a high-service and high-value brokerage, HomeSmart strives to take care of its agents in any way. They have since partnered with a third-party vendor to offer discounted health care insurance by leveraging group buying.

HomeSmart lacks the brand recognition that other major brokers have (like Re/Max or Keller Williams). They don’t invest as heavily in ads because they prefer to keep costs down.

There is no robust lead generation system in place. It may not be the most suitable brokerage for new agents as the model tends to favor more experienced agents.