Frequently Asked Questions

Why REeBroker Group?
What kind of license do I need to join REeBroker Group?
When can I begin doing transactions under REeBroker Group?
How much will it cost to join REeBroker Group?
Is there a minimum sales volume at REeBroker Group?
What about the cost of the risk management?
How much is the total charge per closed transaction?
How soon do I get paid after an escrow has been closed?
Can I negotiate my commissions with clients?
May a real estate agent credit a portion of the agent‘s commission to the borrower? If so, how should the rebate be listed on the HUD-1?
Can I use a local source for business cards, business signs and other materials?
Are my clients free to use any lender, title company, or escrow company for my transactions?
What about Board of REALTOR® memberships and MLS Access?
How do I get broker support?
What forms do you use?
Do you provide office space or a conference room?
As an Agent, can I charge buyer and/or seller a fee on top of my commission?
How can I join REeBroker?

 

Why REeBroker Group?

Because traditional real estate brokerages take a lot of extra money from their agents in the form of commission splits and other fees. At REeBroker Group, agents only pay $500 or 10% (whichever is less) plus a risk management (includes E&O) fee of $135.00 (fees stated are based on a sales price up to $1M and single agency).

What kind of license do I need to join REeBroker Group?

A valid California Real Estate Salesperson or Broker’s license.

When can I begin doing transactions under REeBroker Group?

When the Broker certifies your change of employment on the CalBRE website, we will notify you and then you may begin working under our license. Certification is generally completed the same business day.

How much will it cost to join REeBroker Group?

Absolutely nothing. Simply fill out the application online and you will become our agent/broker associate in less than one business day.

Is there a minimum sales volume at REeBroker Group?

No. You can do none, one, or several transactions per year. You will only pay $500 or 10% (whichever is less) plus a risk management (includes E&O) fee of $135.00 (fees stated are based on a sales price up to $1M and single agency).

What about the cost of the risk management?

There is a risk management fee of $135.00 (fees stated are based on a sales price up to $1M and single agency) per closed transaction. This fee includes the costs of E&O insurance and other risk-management costs.

How much is the total charge per closed transaction?

You will only pay $500 or 10% (whichever is less) plus a risk management (includes E&O) fee of $135.00 (fees stated are based on a sales price up to $1M and single agency). The remainder of the commission is yours.

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

With an accepted file and broker permission, you may be paid directly, as soon as escrow is closed.

Can I negotiate my commissions with clients?

Yes. You are free to set your own sales commissions, as low as $2000 or lower if the broker office’s written permission is obtained. The Broker fee will be calculated based on 3% agent commission.

May a real estate agent credit a portion of the agent‘s commission to the borrower?

Yes. As long as the following requirements are met: 1. The credit must be disclosed in writing to all parties involved in the transaction 2. Credit/rebate must be done through escrow and stated on the final HUD.

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

Yes. As long as your marketing materials have our trademark logo and your CalBRE license number, you are free to purchase them from wherever you choose. If your marketing material contains more than basic contact information, Broker’s approval is required.

Are my clients free to use any lender, title company, or escrow company for their transactions?

Yes. You are free to select the services that best suit your needs.

What about Board of REALTOR® memberships and MLS Access?

REeBroker Group is a member of the C.A.R., NAR, and many local boards. Each agent is required to obtain their own MLS access. Please inquire with your local Board of REALTORS® about MLS access and/or membership costs, dues and requirements.

In addition, we offer an MLS only option where you can save on local, C.A.R. and NAR dues while still having access to view and list properties on the MLS, as well as access to the key and lock box system.

Click this link to view our current memberships

How do I get broker support?

Broker assistance is provided through our website, via e-mail at info@reebrokerca.com, by phone 760-722-3222, or fax 619-399-7089.

What forms do you use?

Standard C.A.R.-approved forms. You may obtain them at the office of your local board of REALTORS® or download them directly from http://www.car.org/ Note: C.A.R. forms are provided at no additional cost as part of your C.A.R. membership benefits. You may also purchase these forms directly from a local Association or C.A.R. without having a membership. Also, if you use our Transaction Coordination Service the forms required for your transaction will be provided.

Do you provide office space or a conference room?

For our local agents, we provide a computer and conference area that may be used during our normal office hours Monday - Friday 8-5pm. The conference room is available by appointment only and the agent workstations are first come, first served.

As an agent, can I charge the buyer and/or seller a fee on top of my commission?

Yes, an agent is entitled to charge a transaction fee to a buyer and/or seller. These fees are negotiable; rates can vary and must be agreed upon with the client in writing. As an example the agent may charge a client for holding an open house, document preparation, clean up, broker’s office fee, transaction coordinating, marketing and other fees. The fee must be paid through escrow and stated on the HUD. No fee can be collected before or after the close of escrow and/or accepted directly by the agent.

How can I join REeBroker Group?

Click HERE to follow our easy application steps.

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