The economic crisis caused by the COVID-19 pandemic is certain to affect virtually every business in operation in the United States—and globally. Particularly vulnerable are those independent contractors, like real estate agents, who rely on commission income. With government orders to “shelter in place,” and the lack of government services vital to conduct real estate activities, the pandemic will negatively affect agents’ income, no matter how badly they want to work.
At the core of Athena’s values is its commitment to put people over profits and support the members of its team. So when this nasty virus first hit our shores, Athena announced its COVID-19 Agent Support Policy. Since then, Athena has dedicated half of its operating cash to support its agents financially, reserving only the resources necessary to maintain basic operations.
But Athena’s owners couldn’t help but ask: what more can we do to help? Indeed, what more can every brokerage do?
Athena’s COVID-19 Agent Support Policy was a good start, but we are doing more to support our agents. Effective immediately, Athena is increasing every agent’s commission compensation on any transactions closed for at least the next 60 days.
We call on every brokerage to follow suit and support the agents who rely on commission income for their livelihoods. We are confident that, once the crisis is under control, real estate activity will boom, and ours will be a good business in which to be. Until then, brokers have an obligation to help agents “bridge the gap” and continue to make ends meet.