Magni Realty is a full-service, technology powered, online real estate brokerage in California that offers its agents 100 Percent Commission plans with no broker split and even with no monthly fee options. The company was founded in 2022 and the main office is in the Bay Area, California.
Magni Realty offers a wide range of real estate services, including residential sales, commercial sales and leases. The company has a team of experienced and licensed real estate professionals who can help buyers and sellers with all aspects of the real estate transaction.
In the highly competitive real estate industry, choosing the right brokerage to work is important for agents to succeed. With so many options available, it can be overwhelming to determine which brokerage will offer the best support, technology, and value.
In this article, we will compare Magni Realty to some of other brokers offering online real estate services model including Realty One Group, EXP Realty, HomeSmart, Avenue One and Radius Agent. We will focus on the key differences between these brokerages, with a special emphasis on the unique advantages of Magni Realty.
Magni Realty: Technology Powered, Online Real Estate Broker, 100 Commission Real Estate Broker, Latest Tech, No Franchise Fees & Best Value,
Magni Realty is a modern real estate 100 commission online real estate brokerage that offers a comprehensive range of services to help agents succeed. One of the most significant advantages of working with Magni Realty is that there are no franchise fees to pay. This means that agents can keep more of their hard-earned commissions and reinvest those funds in their business. In addition, Magni Realty does not charge any junk fees or desk fees, making it a high value option for agents.
Another major advantage of working with Magni Realty is the range of commission plans available. Whether you are a low or high-producing agent, Magni Realty has a plan that will work for you.
Additionally, Magni Realty offers a $0 monthly fee option, making it easy for agents to keep their expenses low while still accessing all of the benefits of working with a top-notch brokerage.
Transaction fees at Magni Realty are as low as $299.0, making it one of the most value options on the market.
In addition, Magni Realty offers a large E&O risk insurance coverage, which protects agents in the event of errors or omissions in their work.
Technology is a major focus at Magni Realty, and the brokerage offers a range of apps and platforms to help agents work more efficiently. For example, Magni Realty has the best online real estate sales platform, which makes it easy for agents to manage their listings, leads, and transactions in one place.
In addition, Magni Realty offers luxury agent branding, which helps agents differentiate themselves from the competition and attract high-end clients.
Personal service is another key advantage of working with Magni Realty. The brokerage offers listing concierge service and marketing design services to help agents market their listings effectively.
In addition, agents do not need to come into the office to pick up checks; commissions are paid directly from escrow, and a courier is sent to the agent’s mailing address.
For commercial sales, Magni Realty offers multiple options and does not charge large broker splits, which can be a major advantage for agents looking to expand their business into commercial sales such as multifamily sales.
Training resources are available for new agents at Magni Realty, and the brokerage also offers coaching options for experienced agents.
In-house high-value transaction coordination services are provided as well, making it easier for agents to manage complex deals, freeing up their time so agents can focus on what they do best i.e. sales and leave the legal documents to transaction coordinators for handling.
In addition, Magni Realty requires:
- No mandatory meetings
- No mandatory office quotas, or office hours.
- No pressure, tactics to recruit other agents
- No complicated revenue-sharing plan that does not work
It provides its agents with:
- Flexibility to choose hours and the transaction volume
- Transparent, modern company with simple commission plans.
- It offers physical office space in case you’d like to bring in your clients.
Overall, Magni Realty offers low fees, great support, and much better value than many of its competitors.
Others: Franchise Fees, High Fees and Hidden Fees
When you’re looking for a real estate broker, it’s important to be aware of the hidden fees that some brokers charge. These fees can add up, and they can eat into your commission if you’re not careful.
Here are some of the hidden fees that you might encounter when working with a real estate broker:
- Franchise fees: Some brokers charge a franchise fee, which is a percentage of the commission that you earn. This fee can range from 1% to 5%.
- Hidden fees: Some brokers charge hidden fees, which are fees that are not disclosed upfront. These fees can include things like desk fees, technology fees, and marketing fees, admin fees.
- Junk fees: Some brokers charge junk fees, which are fees that are not necessary or helpful to the transaction. These fees can include things like lockbox fees, document preparation fees, and home warranty fees.
- Affiliated business fees: Some brokers force agents to use their affiliated services, even if that means clients will end up paying higher for these services.
- Large per-transaction fee: Some brokers charge a large fee per transaction, regardless of the price of the home. This fee can range from $2,000 to $5,000 per transaction.
- Large E&O fee for higher-value sales: Some brokers charge a larger E&O (errors and omissions) insurance premium for higher-value sales. This fee can range from $1,000 to $3,000 per transaction.
- Upcharge for leads: Some brokers charge an upcharge for leads, which are potential buyers or sellers who have been pre-screened by the 3rd party. This upcharge can range from 10% to 20% of the commission that you earn on the sale.
- Upcharge for vendors: Some brokers charge an upcharge for vendors, such as title companies and home inspectors. This upcharge can range from 10% to 20% of the cost of the services.
- Many do not support commercial sales or have modified agreement with larger broker split or force agents to use another party to represent in the sale.
- Some force agents to use broker’s preferred vendors. This can result in higher costs for agent and client.
Overall, the agent receives much less: With all of these fees, the agent ends up receiving much less of the commission than they would if they were working with a different broker.
It’s important to ask about all of the fees that a broker charges before you sign up with them. This will help you to avoid any surprises down the road.
Benefits of Joining Magni Realty - 100 Commission - Online Real Estate Broker
– No franchise fees to pay.
– No junk fees
– No desk fees
– Multiple commission plans for both low and high producing agents
– $0 monthly fee option
– Transaction fees as low as $299.00
– Large E&O risk insurance coverage
– Modern technology and apps
– Best online real estate sales platform
– Luxury agent branding
– Personal service
– Listing concierge service
– Marketing design services
– No need to come into office to pick up checks.
– Commission paid directly from escrow and courier sent to agent mailing address.
– Multiple options for marketing (Email, Direct Mail, Ads)
– In house leads
– $0 fee, pay to close referral leads
– Ability for commercial sales
– Agent referral network
– Training resources for new agents
– In house high value transaction co-ordination services
– No uncharge for leads
– No uncharge for personal services, vendor services
– No forced affiliate business services with high fees for agents and clients
– Coaching options for experienced agents
– Overall low fees, great support and much better value
– No mandatory meetings
– No mandatory office quotas, office hours.
– No pressure, tactics to recruit other agents
– No complicated revenue sharing plan that does not work
– Flexibility to choose hours and the transaction volume
– Transparent, modern company with simple commission plans.
Magni Realty vs Realty One Group
In comparison with Magni Realty; Realty One Group works in a franchise model. With that, agent has additional franchise fees to pay for each transaction.
Also as a franchise, they have mandatory broker meetings and rules need to follow.
Realty One charges much higher fees to the agents in comparison with Magni Realty. A large onboarding fee, monthly fee, transaction fee, higher E&O fee, higher broker split for commercial sales, padded upcharges for affiliated vendors, referral leads.
Magni Realty vs EXP Realty
EXP realty seem to be more into agent recruiting than actually selling the homes. It seems to encourage agents to recruit other agents for revenue sharing. Their revenue sharing model is complicated. What we heard from other agents is that their brokers, team leaders like to have a long meetings and push agents to recruit others.
EXP being a very large brokerage, does not offer a great personal service.
EXP Realty works in broker split with a CAP model. On average agents sell 4-7 homes, majority of the agents. With that, many agents end up paying 80/20 broker split on their transactions.
EXP Realty is like a combination of split model and flat fee. It charges agents with best of both to favor the broker. Initially split and then to a flat fee.
Overall, EXP Realty charges much higher fees to the agents in comparison with Magni Realty.
Magni Realty vs HomeSmart
Home Smart; just like Realty One, works on a franchise model. For every transaction; agents would need to pay additional franchise and other fees.
HomeSmart has different commission plan options. Some offer split with CAP and some flat fee. Overall, agents end up paying much more and receive less value from the office.
Magni Realty vs Radius Agent
Radius Agent fees are way higher than Magni Realty, while the value, benefits are much lower. Monthly fee, transaction fee and other fees; all seem to be very high.
Magni Realty offers all and much more benefits to agents while charging much less in fees.
Magni Realty vs Keller Williams
Kellers Williams being a traditional brokerage with split model and caps and other so called center fees; definitely not a good option for lots of agents looking for a great value brokerage.
Magni Realty offers all or more than Keller Williams and a better option for most of the agents.
Magni Realty vs Pellego
Higher monthly fees. Commercial not allowed. Higher transaction fees. Higher vendor service fees. No northern california broker support.
Magni Realty offers modern technology, tools, better support and do not push agents to subscribe to other software platforms.
Magni Realty vs Avenue One
Much higher fees. Avenue One: charges a hefty monthly subscription fee and transaction fee for each sale. No traditional office space: Limited support: Avenue One offers limited support to its agents. Agents are not assigned a dedicated broker or support staff. This can be a disadvantage for many agents.
Overall, Magni Realty offers much higher value for the agents.
Magni Realty vs Other Bay Area Realty, Loan Brokerages
Magni Realty, a premium luxury brokerage with boutique branding for residential sales.
Magni Realty offers a modern platform for agents to conduct business.
Several other brokerages focus on loans with real estate sales as secondary.
However, the value, branding, support, technology, tools Magni offers for agents those focus on residential sales is much greater.
Magni Realty vs Southern California Brokerages
There are several Southern California brokerages that advertise themselves as value, 100% commission real estate brokers. However, they come with hidden fees, surprises for Northern California real estate sales. Many do not have option for commercial sales, large E&O fees for high value transactions. Also, many of these do not have local broker, knowledge about the area to guide the agents.
Magni Realty offers a much higher, better value for many agents.
Magni Realty vs The Agency
The Agency fees are way higher than Magni Realty, while the value, benefits are much lower. Monthly fee, transaction fee and other fees; all seem to be very high.
Magni Realty offers all and much more benefits to agents while charging much less in fees.
Magni Realty vs ReMax
ReMax, just like other old grand dad brokerages; it has old branding and benefits.
Magni Realty, overall offers much better option, value for many agents. It lets agents brand themselves as premium boutique agent team and offer a great service to clients.
Magni Realty vs Compass
Compass, even though name is big and they advertise a ton with the money they raised from venture capital firms; brokerage is losing money fast in many markets. They have strict rules about agent branding. Many big agents those joined Compass initially came out because of this and other reasons. It does not offers agents flexibility they need to brand themselves.
Magni Realty, overall offers much better option, value for many agents.