Have a question that I can't seem to find the answer to anywhere else. I'm an investor but I recently became a licensed real estate broker and realtor in California.
My current management/investment company is an LLC so I can't legally hang my broker's license on that company.
Can I simply purchase E&O insurance for myself and practice as an individual without joining another brokerage company?
Or is it recommended that I start a brokerage company for the purpose of transacting? Some benefits into doing this would be that I would look more professional and I could one day hire agents, but what else?
Jason, I signed up with an e-broker and pay $495 for each transaction. They have escrow, transaction coordinator, free website, and more. I'm a Ca. Broker Associate and I don't have the time to manage other agents, training, their headaches etc.
Premier Realty Associates
Call me for more information or PM me.
@Larry Cabading Wow - I think that literally solves all my problems! Thanks for the recommendation.
Quick question - for MLS and access to forms, do you still keep your membership to a local real estate organization?
congrats Jason, i'd like to be a broker in a couple years and would face that decision as well- whether to be another broker's associate or be an independent agency.
mehh, i'll decide later on =D
but Larry's option sounds like its less hassle.
is being an associate broker less costly than being an idependent broker, in terms of CA BRE dues?
hey neil, as far as I'm concerned the due are the same. However, i'm also discovering 100% split brokerages and will probably go down this path. His company, Premier Realty Associates sounds like a good one
yep it does, do seasoned agents (working out of their own home office, etc) also get 100% split from such a firm, or just brokers?
are there other CA 100%s that have a lower transact fee? gonna do some homework before i commit to some franchise that wants 50%
nope, even Agents get the 100% split. They just make their money by charging you a $500 +$135 E&O insurance (total $635) per transaction
You still have to join your own realtor organization if you want access to MLS though (but you have to do this anyways)
so Premier Realty Associates total transact fee including the E/O is how much, 635?
are there any financial options here in LA county as to which realtor organization to join in order to get on the MLS?
http://100split.com/ is the website.
I joined PFAR.org since that is my local realtor organization. I still have to pay my MLS Dues, as well as lockbox dues but I think everyone would have to pay it regardless of what brokerage they are at.
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