Franchises definitely have their work cut out and higher commission models seems to win, although with desk fees, you need a high number of agents for the model to work. In the US, companies like Compass is (aggressively) targeting the high commission earners with attractive sign-up packages. Would be interesting to track number of franchise vs independent agents trend in South Africa. Based on EAAB annual reports, new agents are entering the industry, I wonder where most of them go.