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With so many different 100% real estate brokerages in California, agents often wonder which company has the best plan? It’s been our goal at BalboaReal Estate to create a flat-fee-per-transaction-inspired commission model that allows full-service real estate agents to pocket as much commission as possible. Our company started in 2011, and in that short time we have tested just about every low-cost commission option for real estate agent. The goal was that despite agents keeping more money, there would be no compromise on the service. On the contrary, the expectation is that our 100% commission plan is a reward only available to deserving agents that offer excellent service to their clients. In turn, we offer excellent broker support to Balboa Real Estate agents.
As mentioned before, 100% commission is not all the same. Basically every company has their own take on what that is. Many companies charge a monthly fee; we do not. In fact we don’t charge any sort of application fee, initiation fee, risk management fee, E&O fee, desk fee, franchise fee, or other fee. We just charge one simple flat fee per transaction. This begs the question: what is Balboa Real Estate’s flat fee per transaction? The answer is simple: 10 basis points of the sales price. Written another way, it is 1/10th of 1%. This means that if the sales price of a property is $500,000 then the broker fee is $500, that’s it, no other fees. Another example would be if the sales price is $800,000 then the broker fee is $800. You can multiply .001 times the sales price to find the broker fee. The licensee keeps the rest.
Real estate agents mught ask if this is the best 100% commission brokerage program. Our answer is unequivocally yes. An agent typically earns 2.5% of the sales price as the gross commission when it’s all said and done. This means that 2.4% goes to the agent. If the agent earns 3% then 2.9% goes to the agent. Some times agents will ask about transactions with the sales prices in the seven-figures. They notice that the higher the sales price the higher the broker fee. This is correct, however, it’s commensurates with how much an agent is earning too. If a licensee sells a home for $2,000,000 then the broker fee is $2000 while the licensee keeps $48,000 in a 2.5% commission scenario, or $58,000 in a 3% commission scenario. We sell a fair amount of homes in the seven-figure range and our overhead does increase with larger transactions. This is why we feel the “basis points” model is fair for the company and generous for the licensee. If you have any questions about this program please email admin@balboateam.com or CLICK HERE
For years, many real estate agents have left the traditional office model of paying 20%-50% of their commission to the brokerage. These agent go to brokerages that charge agents a flat fee instead instead of a percentage of the commission. This flat fee commission arrangement between brokers and agents is what is referred to as a “100% commission brokerage.”
Once a real estate agent decides that the 100% commission brokerage model is right for them, they have several options to consider when choosing the right brokerage.
Does the agent want to pay monthly fees? Many 100% commission real estate offices charge a monthly fee, but some don’t.
Is errors and ommissions insurance included in the flat fee or is is paid separately? Find out if the E&O fee is included in the flat fee or paid separately, If it is paid separately find our how much and how often.
Is there a workspace or conference room to use?
Is there any sort of application or initial fee to start with a 100% commission real estate brokerage?
Can you buy or sell your own home as a real estate agent with a 100% commission real estate brokerage? Some brokerages have rules against this and require agents to use another agent within the brokerage to represent them on their own home sale.
Is there broker support, and how often is the broker available?
These are the basic questions that should be asked by any prospective agent looking for a 100% commission real estate brokerage.
Balboa Real Estate does not charge monthly fees. Errors and ommissions is included in the low flat fee.
To find our more about our 100% commission brokerage, please CLICK HERE
Often, we have ideas about how to grow our real estate agency business. Some are good and some aren’t, but many ideas never get a chance. This is because we think about something to do, or maybe a way to do something better, but never do it. Just think about it for a second, have you thought of something that you should do, or something that can be done better, a more “right” way, but just never do it?
Everyone has, they just don’t always admit it.
Now think of why you do it? What is the reason that you know you should be doing something, the right thing, but are not?
Wait! Save that answer for a therapy session. To be successful in real estate agency you don’t need to know why, you just need to do something when you realize there is a better way to do it.
Wasn’t it Confuscious, or maybe Phil Knight, that said “just do it.”
Don’t get “analysis paralysis,” if you know there is something that you should be doing, or perhaps a better way to do it, then take control in one easy step: make it so.
When you got licensed as a real estate agent, it was extremely important to decide which broker is best to work with and get trained. A strong start at the beginning of your career from a 100% commission broker will make a huge impact for those who are new to real estate field. Some larger and renowned brokers, like Balboa Real Estate, offer an extensive training programs to new real estate agents. Before joining a real estate firm, it is important to check certain factors like the business image, environment, size and so on. Let’s have a look at what you as a newly licensed real estate required to know about a broker before giving interview.
Size
Size does matter. In states like California, where you can find companies which range from 10 agents to hundreds of agents. It is important to be. With a real estate company with the best commission program and statewide coverage. Always consider to join a reputable company with statewide coverage that gives the support that you need while working.
Facilities
Facilities are important and one of the more important factors to look for. You surely don’t want to take your clients in an office without basic facilities. Its important to check whether broker office has basic amenities like computer, fax machine, copier, adequate parking space, etc.
Management
Management of the broker company is as important as you contact with potential buyers. In large company, salaried managers will be in your primary contact list while in small real estate company, owner of the company will manage your work. It is your duty to ask about how many full-time and part-time agents the company have. How managers will manage the work of all agents and how they all will communicate.
Training
As a new in real estate field, it is essential for very real estate agent to get trained under experts who have decades’ experience in real estate field. Broker companies should offer training for their new agents. It is important to the principals and fundamentals. For example, how to write purchase agreements, you will learn about real estate law and contract law, how to finance real estate, how to list property for sale, and how to evaluate real estate property. Proper guidance and training is important to get for acquiring skills in such areas as negotiating and sales techniques.
Administrative Support
In many real estate company, brokers handle MLS listings and processing of paperwork transaction. Ask account department about how long you will get your commission after closing the deal.
Recognition
Your personal goal determines how successful you can become in real estate. Making money is goal of every real estate person, but you should get recognition for your achievements from your broker or the real estate company for which you are working. Successful real estate companies recognize their top agents.
Balboa Real Estate is looking for agents to join their team on a 100% commission basis. There is no need to pay the monthly or yearly fee. Just pay a transaction fee and we provide training and guidance from experienced real estate professionals. successful
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.
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.
A blog on your real estate website is essential for adding the quality marketing content we always talk about.
This video reveals a secret tip to use for automatically generating content for you blog.
Here are the instructions:
Remember that original targeted content is best.
Put targeted words into Google Alerts and have them e-mailed to you daily.
When you receive relevant articles from Alerts, read them and then type a brief summary and introduction followed by the article link.
Do not copy and paste the article as duplicate content is bad.
Contact me with any questions.
info@BalboaTeam.com | 100% Commission Real Estate | 949.891.1094
I came across a phenomenal article that gives several great examples as to why real estate agents should have community pages for marketing.
Before I post the link to this wonderful in-depth article I must offer offer my own marketing insight along with it:
Your website should be as targeted as can be. Such as a Neighborhood, tract of homes, an enclave, even one complex.
If you are targeting more than one area then you need more than one website.
Your website should be loaded with valuable content on your niche area.
You should utilize a blog to add updated niche information.
Your website should be associated with these social media tools:
I’ve said enough for now. Please enjoy the marketing information you’ll learn from this article:
What is a Virtual Assistant (VA) for Real Estate?
Virtual Assistants are people that work remotely and can do any number of online services.
For real estate, virtual assistants offer marketing services for prospects, lead generation, data entry, article writing, website or blog content, market research, social media management and so much more. Balboa Real Estate offers virtual assistant (VA) services for a discount for our agents.
Visit our Virtual Assistant page by CLICKING HERE
Balboa Real Estate offers 100% Commission + Residual Income CLICK HERE
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 best 100% commission plan in the industry: CLICK HERE for more information
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