Are REALTORS® really independent?
Let’s take a look at the definition of an “independent contractor” as applied to a REALTOR® in Canada:
A REALTOR® working as an independent contractor is a natural person, business, or corporation that provides real estate services to another entity under terms specified in a contract or within a verbal agreement. A REALTOR® works as and when required, during which time he or she is subject to the Law of Agency.
A REALTOR® is paid according to the commission specified on a multiple listing contract, or if there is no contract, the fee is negotiated with the home buyer or seller. A REALTOR® is licensed and regulated by the Real Estate Council in each respective provinces, and works through a Real Estate Brokerage, which they themselves own, or through an umbrella company.
Costs of Association
The costs incurred by a REALTOR® include desk/admin/tech/franchise fee that is paid monthly to the Brokerage which may be from $200 to over $700 a month. All licensed Realtors are members of the Real Estate Boards where they operate, and pay additional fees like real estate board fee, errors & omission insurance, etc.
Each time when a REALTOR® makes a deal, his or her Brokerage charges a deal fee from $225 to $300. Deal fee covers the administrative costs incurred by the Brokerage to handle the real estate transaction in the back office. This includes handling of trust deposits, accounting, communication with real estate lawyers, taxation etc.
Team 3000 “Deal Clearance Service”
Team 3000 Realty Ltd, a Real Estate Brokerage in Richmond now offers to handle all BC REALTORS®’ real estate deals for a fee of $300 to process a real estate deal. Team 3000’s life-time members do not pay any monthly admin/desk/tech/franchise fees. The cost to join as a life-time member is a one-time payment of $1,000.
Team 3000’s Deal Clearance Service is available to all BC REALTORS®. As the company do not charge any monthly admin/desk/franchise fees, the money saved by REALTORS who joined Team 3000 can be used for other marketing expenditures.
Team 3000 is offering FREE business card and signs for Realtors who are joining the Deal Clearance Program. For more information, you can contact Louie Pulice at 778-279-3000 or James Wong at 604-721-4817.
