Frequently Asked Questions Regarding Real Estate eBroker

Why REeBroker?

Because traditional real estate brokerages take lots of extra money from their real estate agents in the form of commission split and other fees of all sorts. At REeBroker, we charge only $500 per closed transaction to all of our real estate agents.

How much will it cost to join REeBroker?

Absolutely nothing. Simply fill out the application online and you will become our agent/salesperson in less then 20 minutes.

Is there a minimum sales volume at REeBroker?

No. You can do none, one or hundreds of transactions per year. You will pay only $500 per closed transaction.

What about the cost of the risk management?

There is a risk management fee of $135 per closed transaction. This fee includes the costs of legal advice, settlements, judgments, legal fees, claims and litigation and other risk-management costs.

How much is the total charge per closed transaction?

We will charge $500 transaction and $135 risk-management fees. The remainder of the commission is yours.

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

You will get paid same day when escrow is closed and the transaction's file satisfies our requirements. You may get paid right out of escrow.

Can I negotiate my commissions with clients?

Yes. You are free to set your own sales commissions, as low or as high as you want. There are no minimum commission requirements, which allows you better compete with discount brokerages.

As to be the buyer's agent, I agreed to give part of my commission to buyer. Is it legal? Do I need disclose this commission refund to somebody? What is the best way to do that?

It is legal to make a refund to the principal (buyer or seller) only.

1) If you want that the refund would be distributed from escrow, you need to mention this fact in the purchase agreement or addendum. Escrow will include this refund in their commission distribution instructions and it will be included in the final statement. This is the recommended way.

2) REeBroker can distribute this refund. We will cut one check for you and one for the buyer. REeBroker will provide one additional form for the buyer and take care of the 1099 forms. There is an additional $50 charge this way.

3) You can make this refund to the buyer by yourself but you may have to pay income tax on this refund. Ask your tax adviser before choosing this option.

No additional disclosure to any parties is required in any of these options.

When can I begin doing transactions under REeBroker?

When you initiate the change of employment.

What kind of license do I need to join REeBroker?

A valid California Real Estate Salesperson's (agent's) or broker's license.

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

Yes. As long as your marketing materials have REeBroker's trademark logo, you are free to buy them where you choose. The vendors we have chosen have a template of our logo already set up, and we have negotiated discounts, so you will probably find that you can get them cheaper here. However, if you prefer to have them made elsewhere, you can simply provide them with the REeBroker Logo on disk.

Am I free to use any lender, title company or escrow company in my transactions?

Yes. You're free to select the services that best suit your clients' needs.

What about Board of Realtor membership and MLS Access?

REeBRoker is a member of the CAR, NAR and regional MLS board. Our affiliates individually access their MLS. Please inquire with your local Board of Realtors about MLS access and/or membership costs, dues and requirements.

How do I get broker support?

Broker assistance is provided through our Web site, via e-mail at support@reebroker.com, or by phone or fax.

What forms do you use?

Standard CAR-approved forms. You may obtain them at the office of your local board of realtors, download them directly from www.winforms.com or from REeBroker. Note: CAR. forms are provided at no additional cost as part of your CAR membership benefits.

Do you provide office space or a conference room?

No. Our affiliates operate from their personal offices. At REeBroker, we believe that paying for a flashy office is not necessary to be successful in real estate. This also allows much higher commissions to go to you.

How can I join REeBroker?

Call me at (626) 354-4357 regarding our easy application.