Anyone an agent with Premier Agent Network?

[Michael Furey]

I’m getting my license to flip houses and was looking at brokerages and found Premier Agent Network. Seems like the best way to keep most of my money. Is anyone with them?  Is it good?

[Shawn Mcenteer]

I am not familiar with premier agent.  I heavily attract a lot of agents to EXP so I tend to stay on top of what's happening amongst other brokerages if you are looking at the numbers around EXP for flipping homes depending on how many flips you do per year it may look more attractive at other brokerages short term (depends on the amount of flips, price point, etc).  If you look at the numbers long term at EXP (2 years or more) I can show you math equation that hands down other brokerages cannot compete against. What's most important to you @Michael Furey for making a decision like this?  

[Russell Brazil]

Keep in mind that if you are getting a license for your own deals, e&o insurance typically will not cover your own deals. Additionally if 25% or more of your transactions are your own deals, most e&o companies wont insure you at all.

[Michael Furey]

@Russell Brazil their plan has the E & O insurance for $100. It has a limit of $1M. Anything over is an extra $20 per $100k. It’s a $495 flat fee plus $100 for e o insurance. Another plan is a 90/10 split with a few other differences. 

[Russell Brazil]

Quote from @Michael Furey:

@Russell Brazil their plan has the E & O insurance for $100. It has a limit of $1M. Anything over is an extra $20 per $100k. It’s a $495 flat fee plus $100 for e o insurance. Another plan is a 90/10 split with a few other differences. 

ASk them if that E&O covers you when you are the principal in the transaction. I can almost guarantee it doesnt.

[Michael Furey]

@Russell Brazil I own the properties under an LLC, but there is a commercial EO fee for commercial, income properties, or business opportunities for $350.

[Jason Bott]

Quote from @Michael Furey:

@Russell Brazil I own the properties under an LLC, but there is a commercial EO fee for commercial, income properties, or business opportunities for $350.

Michael, the E&O will most likely exclude coverage for any deal you are an owner of. If you own the LLC, then it's your deal and no coverage would extend to that transaction. You will want them to send you a copy of the policy and have your insurance agent review.

[Kristi Miller]

I can confirm with Premier Agent Network that you can definitely do your own transactions. E&O fee is higher if you're on the deed, but they welcome all transactions. I can answer any questions about PAN. They don't do the downline gimmick that you see at EXP, so you don't get bugged about recruiting. They welcome agents who want to do their own thing for a low transaction fee.