Grow Your Real Estate Career At A 100% Commission Real Estate Brokerage

The journey of real estate agent is a most rewarding journey and can be a big reason for stress too. There are many decisions you have to take that can change your entire career path. As a new real estate agent, finding the best brokerage is difficult. Real estate is business is relationship oriented. Successful business can come from referrals and past clients, which a new agent typically doesn’t have.

 

For your starting years as a real estate agent, you have to do hard work and earn your business through efforts ranging from door knocking to cold calling expired listings. Such activities take a lot of time and to pay off. Sometimes agents have to go months without any single commission check. Therefore, it is essential to choose the right brokerage from the beginning of your career as a real estate agent.

 

When you start working as real estate agent, it is important to you to see whether the brokerage is good to fit you or not. In this process, it is important to discuss over commission splits, training support and lead generation. If you are a recently licensed real estate agent, then joining the right a 100% commission real estate broker can expose you to a long list of client base and help you to grow your real estate career. Therefore, it is essential to find a 100% commission real estate broker that offers you the opportunities that help to enhance your career, where you can learn new marketing techniques, selling techniques, and very importantly allows agents to keep most of the commission they earn.
Doing online research of 100% commission real estate brokers will be your starting point from which you can do the broker search. By calling them or visiting their office or website, you can inquire about whether they are recruiting new agents or not and what fees they charge. Pay attention to all the fees that these companies will add on or that might be hidden. It is also important to check whether such companies have social media presence or not. A successful broker has a presence on different social media websites like Facebook, Twitter etc. and has an attractive website. You can check reviews and testimonials about such a real estate company.

 

It’s always a safe bet to join a real estate brokerage that does not charge agents any upfront fees when you start a real estate career. Brokerages have different mentoring programs that will help you shape your career. You will get specific tips that will improve your insight into real estate world. Check the members of their team, how long their members shave been with the company, and what are their areas of expertise and experience levels. All this information is usually available on real estate brokerage’s websites.

 

Balboa Real Estate is welcoming new real estate agent to join their team online through their website. We do not charge start-up, monthly or quarterly fees. You need to pay only one low flat fee that is only due at closing. For more information about our 100% commission structure, Please Click Here.

When is the seller exempt from a Transfer Disclosure Statement (TDS)

, , ,
When is a seller exempt from a Transfer Disclosure Statement?
This question comes up very often. It’s required more often than you migh think.
By the way, if a Transfer Disclosure Statement (TDS) is needed then the Seller Property Questionnaire (SPQ) is needed too. State law makes it a package deal to use both forms on a transaction.
The following transfers are exempt from these disclosure requirements:
  • The sale of new homes as part of a subdivision project where a public report must be delivered to the purchaser or a public report is not required. However, when such new homes are sold through a real estate broker, the broker owes the buyer a duty to disclose any material facts which affect the value, desirability and intended use of the property;
  • Foreclosure sales;
  • Court ordered transfers;
  • Transfers by a fiduciary in the administration of a decedent’s estate, a guardianship, conservatorship, or trust except where the trustee is a former owner of the property;
  • Transfers to a spouse or to a person or persons in the lineal line of consanguinity;
  • Transfers resulting from a judgment of dissolution of marriage, or of legal separation, or from a property settlement agreement incidental to such a judgment;
  • Transfers from one co-owner to another;
  • Transfers by the State Controller for unclaimed property;
  • Transfers resulting from failure to pay taxes; and
  • Transfers to or from any governmental entity.(CAL. CIV. §§ 1102, 1102.2, 1102.3)

Contact us to learn more about 100% commission 

Not all 100% Commission Real Estate Brokerages Are Equal

The trend of 100% commission real estate brokerages is now well-established. Even big franchise names like REMAX and Coldwell Banker have been seen offering 100% commission. For agents comparing brokers to work with.

100 Commission
It’s important to note that 100% commission real estate brokers can be very different.

The first important factor to understand is that 100% commission real estate brokerages almost always charge a transaction fee. In fact, 100% commission real estate is just rebranding flat fee per transaction brokers. This means you should ask what flat fees are charged by the broker.

The next important factor is that many of the 100% commission brokers charge a monthly, quarterly fee, or even an annual fee too.

Other fees that 100% commission real estate brokerages charge include a key fee, errors & omissions (also called risk management), document storage, and sign-up fees.

These are fees you should ask about when interviewing a 100% commission real estate broker.

Other questions you should ask include:

  • Are agents paid directly by escrow or does commission have to go to the broker first?
  • Is there a conference room or workplace at the office or is the company completely virtual?
  • What other benefits are agents entitled to?
  • Is there an in-house transaction coordinator?
  • What Realtor associations are they a member of?
  • What are the hours of broker support?

These are just to name a few.

Remember, there is an abundance of 100% commission real estate brokers so take your time to determine what a good fit is.

 

 

 

 

 

 

 

Experience 100 Percent Commission with Balboa Real Estate

,
Join the Balboa Real Estate team and be apart of the best 100 percent commission model in the industry

Join the Balboa Real Estate team and be apart of the best 100 percent commission model in the industry

The 100 percent commission plan has been around in the real estate industry for a long time. Many real estate agencies in California have advertised that their firms offer 100 percent commissions but when you get down to the details, there are many hidden costs that are involved and makes the 100 percent commission plan dwindle down to the broker taking half of the commission and leaving the agent with less than they deserve.

Many firms require that agents pay a startup fee upon joining. After those fees, there are monthly/quartly fees depending on the plan that you choose to go with. There might be key charge so that you may use the office. Many firms advertising 100 percent commission will charge their agents a fee for each transaction to use a transaction coordinator. One firm charges over $100 for a document storage fee. Another requires you to use a TC on your transactions and pay for those services. Since there are so many fees involved with joining a 100 percent commission firm, you would think there are many benefits that would make the monthly payments worth it. Many California Real Estate agencies offering 100 percent commission plans offer seminars, free printing, training and what not, but these benefits are not widely used by agents.

Agents would get more from a real 100 percent commission plan by joining Balboa Real Estate than the few dollars that they would gain from the free printing allowances from any other real estate firm in California offering 100 percent commission.

Join Balboa Real Estate and receive the best commission model in the industry. Our transaction fees start as low as $99. There are no monthly or quarterly fees. No sign-up fees. E&O insurance at no cost to agents. Use of our office and client meeting rooms without a key fee. No junk fees.

Balboa Real Estate is not only a real estate agency but we are a team that’s redefining the 100 percent commission model. You will be among seasoned veterans who have decades of experience in real estate and expansive knowledge on marketing that will help you in growing your business.

 

Connect with us on Facebook!

 

Is 100 Percent Commission Really 100%?

,


100 commission real estate100 percent comission, but is it really? Avoid additional and hidden fees with Balboa Real Estate.

Real Estate firms have adopted to the trend of offering agents 100 percent commission but through research of competing agencies in California there seems to be few that truly stand by their 100 percent commission tagline.

100 percent commission serves as a motivational strategy to keep agents and brokers engaged because this ideally works to ensures that the agents get the most out of their hard work. However, many of the leading firms in California have other fees that agents, new and seasoned, should be aware of. There is usually a start-up fee, a key charge for using the office, plans requiring monthly or quarterly fees and payments for E&O. Many firms will charge you unneccesary fees going towards benefits that are rarely used by agents. Don’t be fooled by firms stating 100 percent commission. The list of additional fees seems never ending and not even near the 100 percent commission mark once everything is calculated.

At Balboa Real Estate we won’t ask you to pay for services you don’t need or services that should be provided without additional costs. We believe that you should keep all of the commission that you earn and we are a firm that wants to make sure our agents are taken care of. There is a reason why Balboa Real Estate is one of the few true firms that stick as close to the essence of 100 percent commission as possible. Balboa Real Estate wants you to keep as much of the commission at possible and avoid charging our agents all the hidden fees that many other real estate firms charge. Our 100 percent commission plan is as simple, easy and the best in the industry!

Contact us to join and get the 100 percent commission you work hard to earn!

Cloud Storage for Real Estate

,

 What is cloud storage and how it applies to Real Estate

By now most agents know what cloud storage is and how beneficial it can be for real estate agents.

Balboa Real Estate Turbo Transaction

To put it simply, cloud storage is a way for all your real estate documents and forms to be loaded onto a server that allows an agent to access them from any computer at any giventime. This server where all your files are stored on is called the “cloud.”

If you have gmail, hotmail, or any web-based e-mail then you are essentially already usually cloud storage. This is because all your e-mail and pictures that people send is stored somewhere else. An e-mail cloud is remote storage so you can access your e-mail from any computer with internet access.

If a real estate agent applies the same concept of accessing an e-mail cloud and applies it to accessing real estate transactions online, then they are using a real estate cloud.

Balboa Real Estate has developed a proprietary cloud exclusively for real estate transaction management.  It is entirely free for agents to use and the fastest and easiest way to submit completed files.

Once a listing is taken an agent can log on and in a matter of seconds upload the listing agreement. Same idea working with buyers. Any document uploaded can be accessed online and sent to any e-mail address at any time. Lost documents become a problem of the past.

When an offer is received on a listing an agent can open escrow, request a preliminary title report, and order and NHD all with a click of the button. This gives the agent a running start on expediting the transaction.

When an agent or the transaction coordinator uploads transaction documents throughout the escrow the the file will be complete so that there won’t be any last minute paper shuffling.

Turbo Transaction is another member service available for Balboa Real Estate agents. We offer agents 100% commission and residual income.

 

 

 

The #1 Mistake Agents Make with Their Website

,

This video explains the #1 mistake agents make with their website and how not to make them

Summary:  You may have noticed that most real estate agents have websites loaded with content. Usually everything a prospective resident would want to know about the community they would be moving to, school info, demographic statistics, even the weather. The problem is that the content is too general. Realtors try to cover too much area.
It is extremely challenging for agents to elbow their way into first page search engine ranking with the monsters like zillow, trulia, and redfin dominating most search results. The first step in having a change is to provide abundant quality, targeted, and specific content pertaining to a niche. Your website should be branded to a neighborhood, subdivision, or condo community. The more niche the better.

Balboa Real Estate offers agents Free Websites.

100% Commission + Residual Income for Real Estate Agents

 

100% Commission Real Estate in Southern California

,

Balboa Real Estate is Bringing 100% Commission Real Estate to the Inland Empire.

Balboa Real Estate is headquartered in Orange County, but quickly expanded south to San Diego and north to the San Fernando Valley.

Naturally, as we expand we join the local associations or realtors.  Below is a list of associations of realtors of which Balboa Real Estate is a member.

100% commission real estate in Orange County | Orange County Association of Realtors (OCAR)

100% commission real estate in the San Fernando Valley | Southland Regional Association of Realtors (SRAR)

100% commission real estate in Ventura County | Ventura County Coastal Association of Realtors (VCCAR)

100% commission real estate in San Diego County | San Diego Association of Realtors (SDAR)

100% Commission real estate in the East Valley Riverside County | East Valley Association of Realtors (EVAOR)

100% Commission real estate in the Inland Valley Riverside County | Inland Valley Association of Realtors (IVAR)

We offer the two best 100% commission plans in the industry:

Option #1: Agents pay $900 a year and keep every penny of commission.

Option #2: Agents pay $495 per transaction or 10%, whichever is less.

 

Methods of Compensating Real Estate Agents – Commissions and Splits

,

This article gives a great  overview of real estate commission plans. More evidence that our commission plan is undoubtedly the best in the industry.

You can read the article below or click here for the original, enjoy:

The Broker/Agent Traditional Commission Split Model:

The vast majority of real estate agents are compensated by a broker via sharing the gross commission amount that the broker collects. Here’s an example:
1. Gross commission amount of a transaction = $12,000.
2. Broker/Agent split of 50% broker/50% agent = $6000 to the agent.
3. The percentage split is an amount agreed to by the broker and the agent and usually reflects the amount of services and support the broker provides. It can also reflect the volume of business the agent brings in.

The 100% Commission Model:

In this compensation model, the agent gets the entire commission. This model can pay 100% to the agent because the agent is paying a “desk fee” or monthly office fee. This can be a significant amount/month, but experienced producers prefer it because their costs are capped while their income is not.
Example from above would be $12,000 to agent, but office fee could be $1000/month or more.
New agents generally are not interested in this model because of the fixed cost they must pay monthly.As of 2013, this model has almost disappeared, with even REMAX taking on new agents with less than a 100% commission.

Referral Fees from One Brokerage to Another and Agent Split:

Referrals come “off the top” before commission is split. The referral is a negotiated percentage paid to another company for sending a client, either as a seller or a buyer. Here’s an example of a typical buyer referral:
1. Brokerage A refers a buyer to Brokerage B in another state.
2. Using the $12,000 gross commission from above, and an agreed referral fee of 25% would give Co. A $3000, and Co. B agent and broker would split the remaining $9000.

Percentage Paid to Franchise for Business:

Some of the major franchises charge a percentage fee “off the top” of each commission to their franchisees. This fee would come off the top of whatever amount the Broker receives before splitting with the agent. Using a 7% franchise fee as an example:
1. $12,000 gross commission from deal would pay franchise $840, while broker and agent would split the remaining $11,160.
2. On the referral deal from above, the franchise percentage would come off of the $9000. Agent and broker split $8370.

Other Compensation Models:

With differing models appearing regularly for how brokerages charge their listing and buyer clients, there are many other ways an agent might be compensated….even by a salary.
For a new agent, the split negotiated with the broker should be carefully considered based on the services and anticipated prospect leads that will be received. Sometimes a 45% agent share can be better than a 60% share with little business coming from the broker.

100% Commission Real Estate in the 1980’s?

,
This is quite hilarious, apparently 100 percent commission real estate is a relatively old concept.

This article, dated September 16, 1985, talk about the 100% commission trend in Florida

It’s surprising to see he charged $400 a month plus a transaction fee. Even in 2013 dollars that is way pricier than what current going rates are. 

You can find the original here or just read below:

Brokerage Trend: 100% Commissions Wall Street Company Switches To New Concept

September 16, 1985|By Jack Snyder of The Sentinel Staff

If real estate broker Jim Weinberg is right, the 100 percent real estate commission concept is going to be the coming thing in the residential real estate sales industry.

Weinberg has just converted his Wall Street Company residential brokerage from the conventional commission split structure to the 100 percent commission approach.

That means sales associates working out of Weinberg’s offices will get all of the commission they make on a sale. Previously, the associate got anywhere from 50 percent to 75 percent of the commission,depending on how much business the sales agent was producing.

In return for getting the entire commission, sales associates will now pay a $400 per month desk rental fee plus a small transaction fee on each sale. The associate also pays personal expenses such as long distance telephone calls, car expense and advertising. Associates in conventional brokerages pay a certain amount of their personal expenses now — car expense, for example.

Weinberg provides receptionist-secretarial help, access to the Realtor board computer, plat books, a full-time noncompetitive sales manager, training and a relocation system.

”It’s a win-win situation for both the broker and the agent,” Weinberg said.

The 100 percent commission concept surfaced several years ago, but has grown slowly in this market. A couple of years ago there was just one office — 100 Percent Realty — in the Orlando area utilizing the concept.

But the REMAX 100 percent franchise system moved into the area about a year ago and ”has done quite well,” Weinberg said.

Under the old commission system, for every 20 sales agents a broker had, four might be top producers, four might be so-so and the rest might be coming and going, he said.

Weinberg said all four Wall Street Company offices — Lake Mary, Maitland, Altamonte Springs and Winter Park — will be converted to the new system.