Location: Plainview, NY
Industry: Residential and commercial real estate
Real Estate Broker and Owner
GROWTH ON COMMISSION
Charles Rutenberg Realty, Inc. specializes in residential and commercial transactions in Nassau, Suffolk, Queens, Brooklyn, Bronx, Westchester, Putnam, Rockland and Orange counties. The agency’s growth is largely related to its commission plan. Agents earn 100 percent commission payout for residential transactions upon completion of a sale. The firm believes that commissions earned should be paid out to the agent, who does all of the work, and not to the broker. “Most real-estate firms pay out only a portion of the commissions to their agents because they have huge overhead to cover,” says real estate broker and owner Joseph Moshé. The firm “has made the choice to cut back on office space and staff in order to pay out higher commissions.”
Quick Tip: “You can learn from the past and plan for the future, but the only real thing that matters is living in the present moment.”
In 2012, Charles Rutenberg Realty launched its commercial real-estate division as a way to provide greater income opportunities for its agents. Those without a background in this area are mentored by active agents, while also being provided with education on the ins and outs of these transactions, says Moshé. “We are continually providing educational articles, updated regulations, professional training and in-person meetings,” he says. Within the next five years, Charles Rutenberg Realty plans to be the number-one real-estate firm in New York and in the nation.