$60 per month to hang my real estate license..??

Buying & Selling Real Estate
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$60 per month to hang my real estate license..??

James Mudd
Real Estate Agent · Realtor - Dallas, TX · Member since 2013 · 342 posts · 55 votes

Do you'll think that $60 per month to pay a sponsoring broker to hang my license is worth it? They charge $250 per transaction and I keep 100% of commission. No other fees (desk, etc) I have a place to meet clients if I ever want to bring someone in.

I plan on using license for my own personal investing. Around 4 transactions per year. Do you think this is worth it..??

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Johnson Ejalu
Waldorf, MD · Member since 2012 · 43 posts · 5 votes
12y

I'm with Fairfax realty and all I pay is $450/ transaction and no monthly fees for 100% commission!...no desk duty, office charge or any other Micky mouse fees and I have access to office 24/7

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  • Account Closed
    Full-Time Investor · Charlotte, NC · Member since 2009 · 2k+ posts · 1k+ votes
    12y

    I think that sounds very fair for an agent. When we were looking for a brokerage for my wife to hang her license at, this is similar to the deal I was hoping for. Of course, it depends on your price point when you buy and sell.

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  • Bill Gulley
    Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    12y

    That is very cheap, I don't think $250 covers the E&O per deal and a decent profit to keep the processor paid and lights on. In fact, that's the cheapest 100% commission structure I've ever heard of, around here you're looking at a grand a month! Jump on it! :)

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  • James Mudd
    OP
    Real Estate Agent · Realtor - Dallas, TX · Member since 2013 · 342 posts · 55 votes
    12y

    Thank you for the replies !!!

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  • Darren SagerPro Member
    Investor · Tampa, FL · Member since 2013 · 2k+ posts · 1k+ votes
    12y

    That's a very good deal. Does it include access to the MLS or is that an additional fee?

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  • Bill Mitchell
    Mansfield, TX · Member since 2013 · 207 posts · 26 votes
    12y

    @James Mudd What brokerage is this? I am looking for a cheap one too. Thanks

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  • James Mudd
    OP
    Real Estate Agent · Realtor - Dallas, TX · Member since 2013 · 342 posts · 55 votes
    12y

    @Bill Mitchell ….it's called United Real Estate…here ya go: http://www.unitedrealestate.com

    Let me know what you think!

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  • James Mudd
    OP
    Real Estate Agent · Realtor - Dallas, TX · Member since 2013 · 342 posts · 55 votes
    12y

    …correction: I miss quoted the fee per transaction. It's actually $330 per transaction and that includes E&0.

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  • Bill Mitchell
    Mansfield, TX · Member since 2013 · 207 posts · 26 votes
    12y

    Sounds like a good deal to me. I wonder if they allow contract assignments.

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  • Ned CareyPro Member
    Moderator
    Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
    12y

    When I was with a 100% commission broker I paid $275 a month. I paid a higher transaction fee too. Sixty dollars sounds like a very good deal.

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  • David Beard
    Investor · Cincinnati, OH · Member since 2010 · 1k+ posts · 928 votes
    12y

    I used to be with a similar broker, and I paid about $100/mth before transaction fees. The $100 covered MLS fees, E&O fees (about $9/mth), and local/state/national realtor fees. The transaction fee was $300/deal for the first 12 in a calendar year, and $99/deal after that. They have a nice "virtual office" with all the forms and items you need, and a conference room if you need to meet with clients or close transactions there.

    http://ownerlandrealty.com/

    The company below is similar, but they charge a flat $300/mth total for transaction fees, whether you do zero or 10 deals/mth.

    http://transaction-realty.com/

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  • Bill Gulley
    Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    12y

    Still a good deal. The fees I mentioned running a grand provide a true 100%, no "transaction fee" to a million in production credits and above we had E&O as that's a variable cost to the number of deals and amounts.

    It's the $60 bucks that makes it nothing, IMO keeping the license active, with the MLS that may be the broker's MLS fee per agent or the lion's share. You'll also, probably, have your dues to the MLS.

    That just isn't available around here that I know of with our local brokers, had it been that way, I probably would have hung my license just for occasional grins! :)

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  • James Mudd
    OP
    Real Estate Agent · Realtor - Dallas, TX · Member since 2013 · 342 posts · 55 votes
    12y

    Thank you @Ned Carey @David Beard @Bill Gulley ….I appreciate your input. I know it probably varies, but what are the typical MLS dues monthly ??

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  • Bill Gulley
    Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    12y

    Don't really recall, been awhile, like 250/300 a year, the broker pays more too.

    If you're considering, you'll have about the same average costs for continuing education and required training by the locals if they do that in your area, I know not all do. :)

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  • J ScottPro Member
    Moderator
    Investor · Sarasota, FL · Member since 2008 · 18k+ posts · 17k+ votes
    12y

    My wife and I are affiliated with the largest broker in Georgia, and the baseline commission structure is similar -- $68/month and $300/transaction.

    In Maryland, we're paying $99/month and about $200/transaction (I believe).

    So, that's pretty similar to both, which I consider to be good prices...

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  • Bryan L.
    Residential Real Estate Agent · Cookeville, TN · Member since 2013 · 1k+ posts · 948 votes
    12y

    @James Mudd - in TN, my MLS is about $40 per month. And that includes CRS.

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  • Johnson Ejalu
    Waldorf, MD · Member since 2012 · 43 posts · 5 votes
    12y

    I'm with Fairfax realty and all I pay is $450/ transaction and no monthly fees for 100% commission!...no desk duty, office charge or any other Micky mouse fees and I have access to office 24/7

    1Reply
  • James Mudd
    OP
    Real Estate Agent · Realtor - Dallas, TX · Member since 2013 · 342 posts · 55 votes
    12y

    …thank you for the replies !!!

    0Reply
  • Eric Decker
    Real Estate Agent · Marietta, GA · Member since 2014 · 6 posts · 4 votes
    12y
    Originally posted by @J Scott:

    My wife and I are affiliated with the largest broker in Georgia, and the baseline commission structure is similar -- $68/month and $300/transaction.

    In Maryland, we're paying $99/month and about $200/transaction (I believe).

    So, that's pretty similar to both, which I consider to be good prices...

     Hi J - I'm a new investor in the Atlanta area and want to get my license.  May I ask what broker in Georgia you are affiliated with?  Thanks!

    0Reply
  • Jerry M.
    Investor · Smithfield, NC · Member since 2014 · 69 posts · 8 votes
    12y

    My girl friend is looking to hand her license in the Raleigh, NC market. Does anyone from Raleigh know of a agency with similar pricing in Raleigh or surrounding area?     

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  • Jerry M.
    Investor · Smithfield, NC · Member since 2014 · 69 posts · 8 votes
    12y

    hang not hand

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  • Kyle Oxford
    Fort Worth, TX · Member since 2014 · 11 posts · 2 votes
    12y

    I have my license at a small local brokerage without an office building in Wataugua. There are no fees, just a 75/25 split on any properties that I do, traditionally or my own. I was also given docusign free for a year. I'm pretty happy so far.  

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    12y

    @Jerry M. 

      that's a great deal.. not sure how the broker makes any money unless he has 100's of agents.

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  • Jerry M.
    Investor · Smithfield, NC · Member since 2014 · 69 posts · 8 votes
    12y

    I agree @Jay Hinrichs 

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  • J ScottPro Member
    Moderator
    Investor · Sarasota, FL · Member since 2008 · 18k+ posts · 17k+ votes
    12y
    Originally posted by @Eric Decker:

     Hi J - I'm a new investor in the Atlanta area and want to get my license.  May I ask what broker in Georgia you are affiliated with?  Thanks!

     Solid Source Realty...

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  • Mark Creason
    Real Estate Lender and Broker · Dallas, TX · Member since 2013 · 966 posts · 500 votes
    12y

    James,

    Are you currently at Ambiance Realty? They are in the office building next to mine. If so, why are you considering switching offices? MLS fees in Texas will get you for about a grand and most offices will make you pay it yourself.

    Mark

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