Is there ways to cut down on the start up cost as a new agent?
I would imigne the fees are different state by state. What are the fees they are trying to charge you?
WRA state initiation(75), WRA state dues(298), Local initiation (216), local dues (107), NAR- National(155)…MLS 30(monthly), Technology Fee (65 per month), Supra Lockbox and Pad (232.56 per year), Supra Keypad Start up (50 one time fee), Errors and ommission insurance (325 annually) and one other one time fee of 120 (forvoicemail set up, name tag, Name riders(5) and web page design and set up.
Zizzle, I don’t see anything here that you don’t want. If you want to be a realtor and make money at it, these are the least of your expenses.
I agree with Bluemoon06 , zizzle… The fees are just fine.
zizzle,
Do what my daughter did–as a brand new Realtor she figured that she had to have money coming in no matter what. Yes, those Realtor fees are expensive for beginners.
She got hired as a waitress at an upscale restaurant/ wine bar that seemed to hire all young smart-looking college students or new grads.
She is very friendly, and chatted up her customers: “What brings you to our town? Oh, you’re looking at places to retire in? Here’s a menu, and my card, if you need someone to show you around.”
That job has paid all her bills, and she has now cut her restaurant shifts down to two a week. She says she would otherwise be home watching TV, so why not work and get those cash tips too.
Real Estate meshes real well with a lot of jobs, even delivering pizzas is good. That job gets you out driving around your city and really learning the geography. You’ll be noting “For Sale” signs and pocket neighborhoods.
So, zizzle, just get to work. It will be at least 3 months even if you were to get a sale today. You need steady dollars coming in while you start out.
Good luck and let us know how it goes.
Furnishedowner
No way going around with paying the fees. I would imagine that all the fees you pay on your state are important. Without one of them, you might not be considered a legitimate Realtor.
In my opinion, in order to cut down fees on agents is to not to hire them at the first place. Consider the alternatives such as working with cash buyers, investors or real estate solutions company. I heard that they don’t require commissions.
I started out hanging my license with a large national franchise, requiring monthly fees and commission splits.
Since my focus is more on investing rather than being a traditional realtor, I switched to a company that charges $395 per side of a closed transaction and E&O insurance is charged per transaction. I keep 100% of commissions minus the above charges.
If I don’t do any traditional listings in a month, I don’t pay my broker any charges (I do pay Supra monthly and MLS/association dues quarterly or yearly)