No desk Fee Online Real Estate Brokers... Washington State

[Jason Brinkley]

Hello BP.

Does anyone have any information on these "flat fee" based brokerages? 

I was researching where to hang an agent license with low or no fees in the Tacoma/Seattle area and found a couple companies online in other states that offer no desk fees, no monthly fees...etc... but charge a flat fee per transaction.  I don't know if I can post the company names here so I won't do that now. 

Their offerings seemed very reasonable for someone who is only using their license for their own investing purposes.

I could not find any such company in Washington state.  Are there any such companies that you all may know of in Washington?  What are your thoughts on this type of brokerage? 

Thanks in advance.

Jason

[Sam Shueh]

Try one of these brokerages 

http://rognow.com/about_343.html

It is essentially a 100% commission to you.  Flat fee transaction call them see if it meets your criteria. 

[Jason Brinkley]

Thank you Sam.  I appreciate your response.  I will check them out.

[Ryland Taniguchi]

There are restrictions for brokerages to qualify for E&O insurance that stipulate that the brokerage must get form of compensation. So there is a limit to how 100% a brokerage can be.

[Jason Brinkley]

Thanks Ryland,

Here is a sample of what the company that Sam linked offers.  I will call them to find out all the details.  Thanks again. 

Our Commission Plans

100% COMMISSION PLAN $100 monthly desk fee $250 transaction fee

80/20 COMMISSION PLAN until $12,000 paid to company 100% for rest of year $100 transaction fee

[Lam Dinh]

@Jason Brinkley - Hey Jason, did you end up deciding on a brokerage?

[Jonathan Balog]

@JasonBrinkley

I listened to a podcast about Big Block Realty, which INC 500 ranked as the fastest growing private real estate company last year, you may want to check them out.  They offer training and mentorship, something absent at most 100% commission brokerages.

[Ryan Evans]

I'm taking my broker exam this upcoming week and have a brokerage lined up already. No desk fees and plenty of free training and resources. They're growing fast because they're investing really heavily into training new agents rather than taking big commissions. And there are 50/50, 70/30, and 90/10 splits, depending on how much support you have and there are several offices around the south sound. 

I'm going with them because the monthly cost is literally just the MLS fee, which any realtor has to pay anyhow. I'm only doing it for the purposes of investing and there are some easy listings I have through my personal network.
 

 I won't post the name here, but feel free to PM me. 

[Xijiang Sun]

@Jonathan Balog  is big block realty also has doing business in WA. I saw a contact information of CA, not WA.      Thanks a lot.   I got my license exam passed.   thanks .  Sun

[Debbie LaRue]

Ryan,
I'm also in Tacoma and need to hang my license somewhere; I'm strictly in it for investment purposes. Can you tell me what brokerage you have found?
Thank you,

Debbie LaRue

[Sean Reardon]

@Debbie LaRue @Ryan Evans

Debbie and/or Ryan - Would you mind letting me know which brokerage this is? 

[Ed Andrea]

I'm not an agent, but have been in and around the real estate business for 30 years and am semi-retired. I do admin work for Realty Executives Brio in Bellevue, WA. Just my opinion, but the agents here seem extremely happy and are earning very well. The commission plans are simple with no franchise fees, no-caps and minimal expenses. If I were going to go back into business, I would hang my license here. Nice people, good management.

[Gene H.]

Does anyone know if you're allowed to sell/list your own commercial property/vacant land etc. if you're a licensed broker in WA? My current broker will not allow it - all commercial property/vacant land transactions need to be referred to another broker. Any firms out there that doesn't have this policy? 

[Adrian Chu]

Originally posted by @Gene H.:

Does anyone know if you're allowed to sell/list your own commercial property/vacant land etc. if you're a licensed broker in WA? My current broker will not allow it - all commercial property/vacant land transactions need to be referred to another broker. Any firms out there that doesn't have this policy? 

 Which firm are you with? My firm allows it.