Ten-X Realty is a new brokerage firm with aunique business model: 100% broker commissions. The San Diego firmlaunched in November of last year and has already grown to animpressive 100 agents. It is serving as an example of the newbrokerage concepts emerging in the wake of real estate technology,which in some ways threatens the brokerage business.

"We felt that in order for us to really grow in the luxurymarket, we needed a brand that was independent and could reallygrow on its own," Burke Smith, founder of Ten-XRealty, tells GlobeSt.com. "We needed a brand that was notassociated with any other previous business model and to establishourselves as a full service brokerage firm. The impetus was that wewanted the ability to grow without restrictions that are put on afirm when it is franchised." Smith is the former chief strategyofficer at Realty One Group, and left the position to launch thisfirm.