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Old 01-20-2008, 02:56 PM
theguy theguy is offline
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Default monthly fees

I just received a letter from my office saying after 3 months of working there I would have to start paying monthly fees.
$100 a month for phone fax and terrible leads.
are you guys all paying this much?
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Old 01-20-2008, 04:46 PM
papaul1621 papaul1621 is offline
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Default Re: monthly fees

Nope, I am paying 0
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Old 01-20-2008, 06:28 PM
doosk doosk is offline
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Default Re: monthly fees

I work for Long & Foster, we don't have any monthly fees but we do have a yearly volume that we must reach.
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Old 01-20-2008, 06:58 PM
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Default Re: monthly fees

My wife was paying over $400.00 a month with her first firm. It was a big name firm in the area Plus we were restricted to their MLS feed. This is pretty common in our area if you want to be with a bigger name.
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Old 01-20-2008, 08:26 PM
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Default Re: monthly fees

140/mo with E&O and $275 a transaction (1st 2 of the month then $25/ a transaction for any others)
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Old 01-20-2008, 08:41 PM
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waynelong waynelong is offline
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Default Re: monthly fees

What kind of split are you on? Some places pay more fees, some pay more in splits, some pay less of everything and typically get less of everything. Like everything else in Real Estate it is about ROI. What do you get for what you pay? Where do you feel the most comfortable and motivated?

I can tell you this - brokerages are not a get rich quick scheme. In most brokerages the top producing agents make more money than the broker with a lot less headaches.
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Old 01-21-2008, 12:57 AM
escapeso escapeso is offline
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Default Re: monthly fees

I have heard that brokerages are asking for more money as the market has slowed. Personally I think its a bad idea to change the structure on someone that has already joined.
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Old 01-21-2008, 05:03 AM
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Default Re: monthly fees

You are right. Brokerages like agents need to just buckle down now and cut out any frivolous expenses so they can ride it out. Raising charges on agents at this point will just decrease the # of agents in their office further. Agents are kind of disgruntled now anyway because the markets are slow.
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Old 01-21-2008, 06:26 AM
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Bigtoe Bigtoe is offline
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Default Re: monthly fees

What does it say about the fees in your independent contractor agreement?
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Old 01-21-2008, 11:12 AM
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Default Re: monthly fees

Evaluate your broker/agent agreements as whole. You should consider the split, monthly fees, benefits, office arrangement, etc...
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