All Forum Posts by: Joseph Delossantos

Hey, everyone! I have a question, should I join REBNY, or RealtyMX? I was told RealtyMX was like $50 to $100 a month depending on what you select, and REBNY charges $300 a year . Heard that REBNY is popular. NYC RE Agents/Brokers, which trade association should I pick? Are there any trade associations of similar capacity besides REBNY and RealtyMX? I am concerned about leveraging my costs to start up, so many choices but want to make the right one.

Thank You!!

Thanks man! totally, it helps to be careful to not get scammed when looking for a brokerage to hang the license with, since it's very easy to get tricked by them ( I saw reviews of KW branches from various locations stating that KW charges like a $25,000 cap on commission to cut the check for the agent. It scared me when I read that. I think knowing their leadership would help alot and it would be very insightful for me because that way I know right away if the leaders - brokers know what they are talking about and know the industry enough to give me advice on how to avoid legal pitfalls and financial pitfalls. 

Hey, everyone. I hope you are safe during the pandemic. So I passed my licensing and school exams in December-January. I have a question about joining an NYC brokerage - team as a new agent that will be able to provide new agent support until I acquire the necessary experience. I had my eyes on a brokerage that was called "Kian Realty" but  I found out that it was bought by a bigger brokerage, Oxford Realty. I saw a review or two about Oxford that they post fraudulent listings. By the bigger brokerage, Oxford Realty, I have been recommended brokerages like Keller Williams, Compass and Remax, which all have several reviews with questionable reputation, as I have seen on Glassdoor & Yelp, so I am doing this with extreme caution. I am still in search of an NYC broker that can train me on how to properly conduct real estate, that won't scam me. At a meeting at Kian Realty, I was told to be careful about how much money I invest when I'm starting out. Knowing that this is an industry fraught with scams, greed and fraud. How should I go about this as a brand new agent and to avoid the pitfalls in the process?  I was sure about Kian because I had gone to the founder's meetings & he seemed very much that he knew what he was talking about.

Thanks!! 

Thank You for your insight, David!! Yeah , I quickly noticed these fees amongst many NYC Brokers.

Thank You For Your Insight!! I am in NYC , by the way.

I have been looking for brokers for a while and I found out (Broker A) is based on the 100% commission model, charges for errors and omissions insurance ($5 dollars per thousand) & I found out it was 20% out of the 100% commission, plus $100 for membership with REBNY, but no transaction fees. Another broker (Broker B) charges $100 for RealtyMX membership and 50/50 commission for the first 6 deals & no transaction fees, then 100% commission after 6 deals, but Broker B's fees are:

$200 Transaction Fee for rentals that are $1800

$400 for any rental from $1,801-$3,000

$600 if the rental is over $3,000

$1000 if the sale is for any sale up to $1.5 million

$2000 for any sales over $1,500,000

and business cards are $65 for 500 or $95 for 1000 business cards.

 I am aware that I need to pay $55 to obtain the license, but I am worried about choosing the right broker. Will I have to pay these kinds of fees at every broker I sponsor with? (I am trying to make sure I am not getting scammed, that's why I ask, if not, what is the best way to go about this and avoid paying so much in desk fees/startup fees? , I only ask because I am new to this & I want to build my experience without any problems) What worries me too is that the fact that real estate is a serious business and the fact that people can get sued easily in this business by the buyer/owner. Your insight is appreciated!!

Thank You!