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Real Estate Agent FAQ Section

Many agents who are not familiar yet with how REeBroker does business allowing real estate agents to keep 100% commissions without paying monthly or enrollment fees keep asking us, “How in the world do you guys do it?”
We have put together a list of most frequently asked questions hoping it will allow us to stop acting like parrots on the phone repeating the same answers to the same questions.

Please read through following list and we hope it will help you to appreciate the work we have done so far to help our agents to make more money per transaction and sell more homes.

Why REeBroker?

The conventional real estate brokerage office takes lots of extra money from their real estate agents in the form of commission split and other fees of all sorts. At REeBroker, we charge only $500 or 10% (whichever is less) per closed transaction to all of our real estate agents. We automated administrative part of the office and you get to enjoy all the training, support and guidance without paying any fees.

How much will it cost to join REeBroker?

Absolutely nothing, simply fill out the application online and you will become our agent/salesperson in less than 20 minutes.

Is there a minimum sales volume at REeBroker?

No. You can do none, one or hundreds of transactions per year. You will pay only $500 or 10% (whichever is less) per closed transaction plus $135 risk management fee.

What about the cost of the risk management?

As we said above, there is a risk management fee of $135 per closed transaction. This fee includes the costs of E&O insurance, legal advice, settlements, judgments, legal fees, claims and litigation and other risk-management costs.

How much is the total charge per closed transaction?

We will charge $500 transaction or 10% from the transaction (whichever is less) and $135 risk-management fees. A simple math - $635 per any closed transaction. The remainder of the commission is yours.

How soon do I get paid after an escrow has been closed?

You will get paid on the same day when escrow is closed and the transaction’s file satisfies our requirements. You may get paid right out of escrow.

Can I negotiate my commissions with clients?

Yes. You are free to set your own sales commissions, as low as $2000 or as high as you want.

As to be the buyer's agent, I agreed to give part of my commission to buyer. Is it legal? Do I need disclose this commission refund to somebody? What is the best way to do that?

It is legal to make a refund to the principal (buyer or seller) only. Here are the options:

1. If you want refund to be distributed from escrow, you have to mention this fact in the purchase agreement or addendum. Escrow will include this refund in their commission distribution instructions and it will be included in the final statement. We recommend this option.
2. REeBroker can distribute this refund. We will cut one check to you and one to the buyer.
3. You can make this refund to the buyer yourself but you may have to pay income tax on this refund. Ask your tax adviser before choosing this option.
4. Please note: Buyer's W-9 form is required. Otherwise refund will be taxable to the agent.

When can I begin doing transactions under REeBroker?

When you initiate the change of employment on DRE web site and we make a confirmation (usually in same day).

What kind of license do I need to join REeBroker?

You need a valid California Real Estate Salesperson's (agent's) or broker’s license.

Can I use a local source for business cards, business signs and other materials?

Yes you can. As long as your marketing materials have REeBroker's trademark logo, you are free to outsource them anywhere you choose. The vendors we have chosen have a template of our logo already set up, and we have negotiated discounts and you are welcome to take advantage of that offer. If you prefer to have your business cards made elsewhere, you can download all needed files from our website.

Am I free to use any lender, title company or escrow company in my transactions?

Yes. You're free to select the services that best suit your clients' needs. We have in-house mortgage processing service.

What about the Board of Realtor membership and MLS Access?

REeBroker is a member of the CAR, NAR and many regional boards. Our affiliates individually access their MLS. Please inquire with your local Board of Realtors about MLS access and/or membership costs, dues and requirements.

How do I get broker support?

Broker assistance is provided through our Web site, via e-mail at support@reebroker.com, by phone (800) 944-1560 or fax. 619-399-7089. Our team will assist you 24/7 and will guide you through transaction process.

What forms do you use?

We use standard CAR-approved forms. You may obtain them at your local board of realtors, download them directly from www.winforms.com or from REeBroker’s Document Library. Note: CAR. forms are provided at no additional cost as part of your CAR membership benefits.

Do you provide office space or a conference room?

No, allow us to explain why. In today’s market, most successful agents are relying on mobile and home offices and we are strongly encouraging everyone to adapt to a more progressive way of thinking. A flashy realtor’s office carries a tremendous ongoing expense. What is better, a 100% commission or an office that you may use once a month? Besides, contrary to the popular belief, an expensive office does not project success to your clients, especially in today’s economy. Many of them are thinking, “I guess I am paying for this too.”

How can I join REeBroker?

We made it so easy, it hurts. Click HERE and follow the simple steps and quickly start your new real estate employment.