One of the most difficult challenges of being self-employed is not having employee benefits. Not only do such things as insurance cost more when someone is not a member of a large company or credit union, they are also harder to get. And it takes time to price and evaluate the plans that are available, not to mention preparing tax forms every quarter, monitoring office costs, and so much more.

One real estate company has taken self-employment worries away for its agents and brokers. CENTURY 21 New Millenium, the largest Century 21 real estate firm on the Eastern Seaboard, has just announced an optional compensation plan for its nearly 200 sales associates. The plan covers salary, health benefits, a 401K plan, paid vacation, sick leave and profit-sharing options.

What makes the plan unique is that sales associates have the option of receiving a salary instead of working as independent contractors.

"Our current commission-based compensation plan requires both new and seasoned sales associates to take the risk of cyclical and unpredictable markets, which can both frustrate our current associates and deter potential associates from a career in real estate," said Ike Broaddus, president of the company. "Though this salary option is uncommon in the real estate industry, it is an excellent recruiting tool, as it allows participating agents to forecast their finances in a way that most commissioned sales people cannot."

CENTURY 21 New Millenium is a new company that was formed by the merging of three Century 21 firms in Washington, D.C.

Published: July 23, 1998

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