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CA Independent Dominion Realty opens in Brampton

Property Here - Monday, November 18, 2013

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Danny Varaich recently opened independent brokerage Dominion Realty in Brampton, Ont.  Varaich has been in real estate since 1973 and a broker of record since 1977. He previously owned a large franchise brokerage.

“There are many challenges brokerages face and the expenses keep going up and the company dollar is shrinking all the time, and the war of agent compensation is ugly out there,” says Varaich. He says that after studying various brokerage compensation plans and the monthly fees and expenses paid by the brokers and agents, “I have started what I think is a unique and a win-win business model, where there is no monthly fee or any expense charged to the agent. Instead, the agents can create a passive and perpetual income stream over and above their actual commissions earned by them.”

Each sales rep can participate in the plan without any additional cost. If they chose not to participate, “he or she still enjoys the relatively high commission split,” says Varaich.