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Broker Plans
Qualifications
Setup Fee
Monthly or Annual Fees
Transaction Fees
Commission Split
Yearly Commission & Fee Cap
Beginning Broker
20%
split
For New Brokers or Brokers with less than 10 Lifetime Closings
1 Time $395 Setup Fee
No Monthly or Annual Fees if 1 transaction minimum met. Otherwise $395 per year.
No Transaction Fee (Except Tax Deductions)
20% Commission Split
$20,000
Intermediate Broker
$395
per transaction
For Brokers with 10 or more Lifetime Closings
1 Time $395 Setup Fee
$39.95 Monthly or $395 Annual Fee
$395 Transaction Fee ( + Tax Deductions)
No Commission Split
$15,000
Advanced Broker
$195
per transaction
For Brokers with 10 or more Lifetime Closings
1 Time $395 Setup Fee
$195.00 Monthly or $1950 Annual Fee
$195 Transaction Fee ( + Tax Deductions)
No Commission Split
$10,000
Service
choose your plan
DOL and MLS Setup
E&O & Liability Insurance
Workers Comp Insurance
B&O Taxes
1 Time License Application & Test Fee (New Brokers Only)
Clock Hour Classes
License Renewal
MLS Dues
SUPRA E-Key Subscription
Email Address
Website Profile Setup
Google Drive & Transaction Desk Access
Training
Ongoing Contract & Deal Support
Marketing
Lead Generation
Lockboxes
Yard Signs
Sold Riders
Name Riders & Directional Arrows
Cost
$30
per month
N/A
Varies (Appx $800 - $1200 per year)
$79.87 (Quarterly)
1.5% of Gross Revenue Yearly
$284.50
$0 -$299 (Varies, Every 2 Years)
$146.25 (Every 2 Years)
$240 Semi-Annually
$177.21 Annually (2016 Rate)
$50 Per Year
Appx $350 per year for website maintenance
Appx $50 Per Year
Varies
Varies
Varies
Varies
$105 Per box
$76.88 per sign
Appx $6 per sign
Varies (About $27 per Name Rider, and about $16 per Directional Arrow)
Cost Responsibility
$30
per month
N/A
Locality & Broker
Locality
Locality & Broker
Broker
Broker
Broker
Broker
Broker
Locality
Locality
Locality
Locality
Locality
Locality & Broker
Locality & Broker
Locality & Broker
Locality
Locality & Broker
Broker
Locality Responsibility
$99
per month
Completes & Files Broker Setup or Transfer Forms
Provides Brokerage Coverage (Covers Broker while at company)
Provides L&I Workers Compensation Insurance as required by WA Law
Pays B&O Taxes on a Yearly Basis
Provides localitybrokers.com Email Address, Calendar & Google Apps Account (all provided via Google)
Uploads Broker Profile to localitybrokers.com
Provides access to Google Drive & Transaction Desk for Brokers to store contracts and documents.
Provides training for new Brokers and Brokers who need additional help. Training provided by experienced Brokers and includes classroom and field training.
Provides ongoing support and advice on contracts and negotiations
Provides website marketing with rotating "buy box" for Brokers. Provides expert advice on building your own marketing campaigns, including advertising on Zillow, building your own website, and other tried and true lead generation syustems.
New Brokers under the Beginning Broker plan are provided leads via REALTOR.com, paid for by Locality.
Locality provides lockboxes that can be borrowed.
Provides yard sign for listings.
Provides generic sold signs..
Broker Responsibility
$30
per month
Completes & Signs Required Forms
Enrolls in Broker Coverage (Covers Broker regardless of what brokerage license is at. Strongly encouraged.)
Has 1.5% of gross commission revenue withheld from paycheck
Pays fees to WA Department of LIcensing to take the real estate exam and get original license. Applies to new brokers only.
Enrolls in Clock Hour Classes to obtain or renew license. Clock Hour Classes are often provided free of charge by Title Companies or can be taken online for a fee.
Renews license every 2 years or as required by the WA Department of LIcensing.
Pays MLS Dues directly to NWMLS.
Enrolls in Supra E-Key Subscription (A Supra E-Key subscription is required to obtain the key needed to show houses.)
Writes Public Profile and Provides Profile Picture
Uploads all contracts and state required documents to comply with DOL regulations.
Invests time and money into building business through proven marketing campaigns. Build your own website, use lead generation tools, and more.
Lead generation may be purchased through Zillow, REALTOR.com, Trulia or other vendors.
Broker may purchase their own lockboxes through NWMLS.
Broker may order personalized sold signs
Brokers may purchase personalized name riders and arrows at their discreation.
Deals per year
(using average sale price of $400,000)
0 Deal a Year
1 Deal a Year
5 Deals a Year
10 Deals a Year
20 Deals a Year
30 Deals a Year
40 Deals a Year
Beginning Broker
(Excluding Setup Fee, Assuming Annual Fee)
$0
$2795
$12,395
$20,395
$20,395
$20,395
$20,395
Intermediate Broker
(Excluding Setup Fee, Assuming Annual Fee)
$395
$790
$2370
$4345
$8295
$12,245
$15,395
Advanced Broker
(Excluding Setup Fee, Assuming Annual Fee)
$1950
$2145
$2925
$3900
$5850
$7800
$9750
Compare to Traditional Brokerage
(50/50 Split, $20,000 Cap, $295 Desk Fee)
$3540
$9540
$23,540
$23,540
$23,540
$23,540
$23,540
