Updated: May 13, 2020
Not all 100% Commission Brokers are the same. Some offers virtual offices, some offer auxiliary services like mortgages, leads or escrow. However, the key differentiator will be the preferences of the Agent itself. Some agents like the rapport of the broker, or the convenience of the office or even the branding "look" and feel. No two agents are the same. However, there is always a trade-off for a selected option. Eg: A brokerage that is too easy to sign up invites every agent out there, which also compromises your file attention and access to the broker. Similarly, an inexperienced broker can lead you to issues especially when a transaction gets complicated.
The STANFLES REALTY GOLD standard premium 100% commission broker was developed from the ground up. Lessons learnt and legal issues encountered in prior experiences and ventures have led to the current Premium branding. So what are the key differences here at STANFLES REALTY? Let's understand more about STANFLES REALTY.
What is the transaction fee per file?
The transaction fee is $395 per transaction for files less than $1M. >$1M is only 0.1% of Purchase Price. Eg: $1200 for $1,200,000 purchase.
Are there desk fees, monthly meetings, quotas, franchise fees?
NO - none of those
What is so special about this firm vs other 100% commission brokerages?
a) Our broker is a PhD in Marketing and practicing broker, who picks up calls 24/7. He manages operations here in California and overseas.
b) Inbound leads are passed off to agents - these leads can come from Indonesia, Singapore, China, Canada and S Korea.
c) 24/7 use of our own STANFLES BRANDED offices
d) Multi Language support
e) Efficient system that is streamlined form years of fine tuning.
Is there an E&O fee?
Agent E&O is zero if you close at least 1 transaction per year.
I am excited.. how do I sign up?
Just fill in the Contact us form, we will send you a fee breakdown sheet. After review if you are OK with it, reply that you are good to go and we will then send you a complete docusign sign up package.
What kinds of office support do you provide?
Our head office is in Downtown LA. We are having more satellite offices as we expand. Our offices are branded STANFLES REALTY offices and we do not share it with any other companies. They are accessible 24/7 with Wifi and printing/copying/scanning. Only our agents and clients have exclusive use of these offices. When we have more franchise offices opening up, agents can use any of these offices as well.
Do you have an in-house Escrow?
Yes, we do and agents will get a discount on fees plus faster turnaround and commission payment when utilizing STANFLES ESCROW - a non independent broker escrow.
How does the firm make money if the fees are so low?
Our broker is a practicing broker with a PhD and who conducts real estate investment seminars locally/overseas and transact in pocket listings as well. Our inbound leads come from China, Singapore, Canada and S Korea. The brokerage on its own business model is profitable already and the 100% commission structure is to provide associates with an alternative option to high cost franchise brokerages.
Do you do Commercial Real Estate?
For Commercial transactions, we will use Stanford Raffles Commercial for the transaction. This is to differentiate from the residential side of the business. This is a much better then referring it out at a low split.
Do I have access to Transaction Forms?
You will need to have access to ZIPFORMS due to copyright issues. As a Stanfles Realty agent you will have access to our in house document and template form library. Please login to access it. These are most frequently used forms, documents, contracts and other material that agents may need in his/her business.
Do I get Training?
Yes, we have both online self paced training OR REAL TIME via Video feed Broker Training OR In-person Broker Training by appointment.
Are there Leads?
Definitely, we get leads from our multiple advertising sources and will be allocated to Associates based on language, rotation and reliability.
Do I need to join an Association of Realtors?
Stanfles Realty is a member of many local Associations of Realtors® and MLS systems. Please enquire which Association you need. You are not obligated to be a member of any association to do business as a real estate agent with Stanfles Realty. You only need to have a valid DRE license and be associated with a Broker. However, without membership to a local association of realtors, you cannot use the Realtor designation, obtain a lock box key, list properties or see agent details on the MLS and receive other benefits that the associations may provide.
When you join any local association of realtors, you will be required to become a member of NAR (National Association of Realtors) and CAR (California Association of Realtors). You will need to ask your local association about NAR and CAR membership fees.
NAR Rules are that associates need to join BOTH Association of Realtor and MLS. They cannot just join MLS only memberships. So either join BOTH or join NONE.
Agents with a salesperson license may join an association only if Stanfles Realty is a member of that association. Associate brokers may join any association they prefer.
If there is a particular MLS that you wish to join and we are not a member of, just inquire and we will sign up to get you on board. Your satisfaction as a Realtor agent is very important to us.
Current and future memberships (to be added when associates request):-
Is there a Transaction Coordinator service?
Yes Basic TC service and compliance check services are provided for every transaction. Full TC at additional costs.
What is the referral split?
All broker leads to agents are 70-30 splits. Any commission received from other brokers for referrals are 80-20 splits (when STANFLES REALTY is not the primary brokerage but only refers a client out). New home transactions are referrals.
What if I refer a friend to join?
Yes we like your friend to join us as well and we will pay a referral flat fee to you for EVERY transaction that your friend closes FOREVER.
Can I be a Branch Manager or operate with my own team or office?
Of course!!! We are looking to expand through out California and are particularly interested in virtual Brokers with Association memberships or a physical small office. We can work out an agreement, please inquire. Currently we are expanding in China, Singapore, Canada, Korea and possibly Vietnam and Cambodia. Inquire with our franchising arm.
Do you do property management, commercial properties, loans or leasing?
We do not do property management. We use Stanford Raffles Commercial for commercial deals. We do not do loans but you are free to sign up with a separate Mortgage Broker. Leasing, yes we do.
Can I design my own marketing materials and business cards?
Business cards are always provided by STANFLES REALTY. You are free to design postcards using our vectors. Signs are already templated in Deesignca.com.
How do I transfer Listings?
There are two ways to do this:
1) Cancel your current listings, move to the new office and open the listings again under STANFLES REALTY.
2) The present broker may release your listings and allow you to transfer the listings to the new office. You need to ask the broker's permission for this option. The transfer form is available in our intranet.
For any option, you have to disclose the fact that you changed the office to your client.
Is there legal Consultation?
STANFLES REALTY provides support and consultation to our agents.
You may write your questions to email@example.com and we will answer them in 24 hours, but if you have any urgent matters, the broker's support is available at ext 3.
Also, the C.A.R. Member Legal Hotline 213-739-8282 is a free service to all our salespersons. It gives agents the opportunity to briefly talk to a C.A.R. attorney in a confidential telephone conversation about legal issues that they face in their practice. You may find more information at http://www.car.org/legal/