Flat-fee LoKation execs on competition for market share

Today’s RealTrending features Nathan Klutznick, CEO, and Jonathan Lickstein, Managing Broker for LoKation Real Estate in Pompano Beach, Florida. The executives talk how they believe the flat-fee model is the future, competition for market share and the importance of transparency and availability to retain agent.

The brokerage is ranked No. 47 by transaction sides, and No. 77 by sales volume in the 2022 RealTrends 500 ranking.

Here is a small preview of today’s interview with Nathan and Jonathan. The transcript below has been lightly edited for length and clarity:

Tracey Velt: What is the biggest misconception about your brokerage?

Jonathan Lickstein: The stigma behind 100% flat-fee brokerages is that you get nothing. You get 100% [of the commission] because you’re not receiving anything back. And we work really hard to dispel that myth. We have an old saying, “Sacrifice nothing, earn everything.” Our agents should expect to get the same level or better support from the broker and support team here, while still not having to pay them the large commission splits that you may have to with a retail brokerage. So, that tying in with all of the additional services in one location has really been a hallmark to our success.

Nathan Klutznick: One of the most rewarding aspects of our model — and what we’ve been able to put together here — is when a new agent joins or a team from another leading company in our market, we see they have that aha moment and realize how much support they’ve been lacking, and how much more opportunity we’re able to provide.

In addition to the kvCORE tech stack, a lot of the things that we pride ourself on is the proprietary tech that we built ourselves. We believe it’s the little things, like staying in tune with the agent and what they need and giving them the tools to streamline their business and be more effective when they’re out in the field are important. Little things, such as as being able to submit an escrow deposit in a secure manner in front of their client, while they’re in a showing, writing an offer from their mobile device, are vital.