Frequently asked question
Welcome to our Frequently Asked Questions page. If you have a question that is not addressed below, please send us an EMAIL or give us a call at 877-449-7653. We ALWAYS return calls/emails PROMPLTY!
- What is your commission structure?
We offer 2 different 100% Commisison plans.
- Monthly: $99/mo – $99/Closing
- Flat Fee: Only $599/Closing
- Do you have Errors and Omissions Insurance?
YES!!! We are insured with an AM BEST A-Rated Insurance Carrier. You can be assured that we will always carry adequate amounts of insurance. Our insurance includes free legal support, agent-owned property coverage, and the lowest available deductible of $2500.
- How are you different than other &quot;100%&quot; or &quot;e&quot; brokers?
We actually do as we promise, offer incredible support, have no hidden fees, and offer the highest commission in California. Just because you earn 100% Commission, does not mean you should sacrifice support. We offer 100% Commission and 100% support. Click here to COMPARE 100% BROKERS.
- Do you have a Transaction Coordinator?
YES! We have an In-House Transaction Coordinator that ONLY works for Realty Source.
T.C. Prices: $299 per side (Includes copy of every file for you and your client)
*This is an optional fee
- What do I do If I have a question or a problem?
All of our agents have DIRECT access to the broker daily from 7am – 7pm, EVEN WEEKENDS! All inquiries are answered within 3 hours. All of
our agents also have access to our FREE “Stress Less” legal hotline. The level of support we offer is what sets us apart from our competitors.
- Are there any hidden fees?
NO! We offer exactly what we advertise. No Penalties, Hidden Fees, Startup Fees, Quit Fees, etc.
- How much will it cost to join Realty Source?
After becoming affiliated with Realty Source, you will only be responsible for your initial business card purchase. We have negotiated deep discounts on high quality
- I currently have a transaction in escrow, do I have to wait for it to close?
There is many different answers to this question. It all depends on your employment agreement with your current broker. Our employment agreement allows our agents to take their business with them if they decide to move. Most employment agreements allow you to leave and still earn your commission as long as you complete all of your duties.
- Does Realty Source do property management or loans?
No. We are a Real Estate sales company. Our agents are permitted to do listings, sales, and leases.
- When I close a transaction, when will I get paid?
Most of our agents get paid DIRECTLY from escrow. The only requirement is that we have a complete file uploaded prior to close of escrow.
- How long does it take to become affiliated with Realty Source?
We can have the paperwork completed in as little as 15 minutes. The advancements in technology have given us the luxury of completing the required paperwork in a very quick manner.
- Can I change commission plans after I start?
Yes. To change between commission plans, you must have closed at least 1 transaction and been on your current plan for at least 6 months.
- Do I have to be located near the corporate office?
NO! We are licensed to conduct business in all of California and have agents throughout the entire state. We can complete most of our transactions through our online transaction management program or Fax/E-mail/Mail Etc. Our mode of operation allows agents to work from wherever they choose and enjoy the benefits of an increased commission split.
- Do you have a physical office?
Yes, Our Corporate Office is located at 2727 Camino Del Rio South, Suite 323, San Diego, CA 92108. Agents are free to use the office for mail, pick up/drop off, business
address, faxing, copies, etc. Our philosophy is by minimizing overhead we are able to offer our agents MUCH HIGHER commission splits. We also work with several satellite offices throughout California.
- Does Realty Source offer Websites or Marketing Materials?
YES! We are the first 100% Company to offer FREE Website design and exclusive marketing materials for our agents.
- How do I turn in my forms and documents?
We have an online transaction management system that assigns each agent a unique login and
password to view all curent and closed transations and upload/download forms.
- Can I have my own DBA at Realty Source?
Yes. There is an initial $2000 fee and all materials must state “a division on Realty Source, Inc.”.
We pay 100% of the initial design and setup of our Realty Source agent websites. To view a sample website, please click HERE.
We offer exclusive designs for our agents. We have a full marketing department which offers Business Cards, Postcards, Flyers, Signs, Vehicle graphics, etc.
- What would my NET commission be on a $10,000 commission check?
- Plan 1: $9901
- Plan 2: $9601
- Plan 3: $9401
- What Does Realty Source charge if I do a BPO?
On plans 1 and 2, we give you 100% commission on your BPO orders. For agents on plan 3 (no monthly fee) we will only deduct 10% if the checks are made payable to Realty Source. Most BPO companies
will pay the agent direct.
- Does Realty Source hire new agents?
only hire new agents that are sponsored/mentored by a current agent.
- I am interested in Realty Source, however you are not a member of my MLS Board. Will you join?
We are members of MANY associations throughout California. We are always open to joining new associations/MLS etc. For a list of current association memberships, and associations we would like to join, please click HERE.
- Are there any sales minimums at Realty Source?
NO! At Realty Source
we understand that all of our agents are hard working self motivated individuals. We DO NOT have any sales minimums or sales quotas.
- Are there any weekly office meetings?
NO! We feel that our agents are busy enough as it is. We do not require attendance at any weekly or monthly meetings. We do have occasional meetings to discuss changes to our business and any form/law changes if needed. We conduct our meetings via online conferencing.
- Is there a bonus for referring an agent to Realty Source?
YES! For every agent you refer to Realty Source, Inc. you receive a BONUS every year that the agent remains with the company. For more information please visit our Refer an Agent page.
- Are there any team building opportunities at Realty Source?
YES! For agents interested in building a team, we offer significant savings over our published rates. Please visit our TEAM LEADER LEADER page for more details.
- Are there any advertising requirements?
We require that the Realty Source, Inc. logo be
displayed on any advertisement materials our agents use while engaging in real estate activity. The Department of Real Estate also requires that ones license number is also on all “First Contact” marketing.
- Who do you use for signs?
We use Dee Signs (888-791-SIGN). They stock our standard company sign. If you would like to have a custom sign made, please contact them for pricing. You are free to use the sign provider of your choice.
- Can I determine what commission percentage I charge?
It is up to each individual agent to determine what the appropriate commission rate is for each transaction. However, we are not a discount brokerage; we are a full service real estate company.
- Do I have to use a specific Title Insurance Company, Escrow Office, or Home Warranty Company?
You have the right to choose who you would like to use. We do not believe in “In-House” escrows or lenders. These services are just another difficult requirement (income stream) many traditional brokers have. We urge all of our agents to develop working business relationships with various vendors to help serve their clients needs better.
- What Type of License do I need?
You will need a Salesperson, or Brokers license, in good standing, issued
by the California Department of Real Estate.
- If I have a question on a transaction, who do I contact?
For all questions regarding real estate transactions, you can call Scott Engle, Broker at (619)258-1000 x5 or by e-mail at Scott@goRealtySource.com