PHOENIX - The Realty Executives International franchise operation announced Tuesday that it will begin compensat-ing real estate agents for mortgage services they perform for their clients through partnerships with two technology companies.
The 8,000 agents will receive commissions for using computer terminals in Realty Executives offices to access the services of RealMart, an online mortgage company, and OnePipeline, a Salt Lake City firm that allows third parties such as real estate brokers, agents, and builders to initiate the mortgage loan process for clients and collect fees.
Historically, real estate professionals have received no compensation for such service. OnePipeline certifies compliance with state and federal laws, as well as professional regulations, so they can.
"We have been able to build a truly complete agent-driven business for which agents are compensated for all of their services to the consumer," said Bill Powers, vice president and chief operating officer of Realty Executives International, in a press statement.
"For the past 40 years I've been looking for a better way for people to buy and sell real estate, and this is it," added Roy Fair, chief executive officer of RealMart.com and chairman of Realty Executives' Chicago office.
Realty Executives currently boasts 600 franchise in seven countries, including United States, Canada, South Africa, Mexico, Australia, Guatemala, Thailand, and Singapore.