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We have a FLAT FEE policy of hiring new agents. For more information please refer to the following documents.
- Agreement
- Policy & Procedure
- W-9
- Check list
If interested in joining our team of professional, please complete the above documents, add a copy of your DRE License and submit them to:
Red Hot Realty; 5530 Corbin Ave. Ste 270, Tarzana, CA 91302
You need to inform Department of Real Estate of transferring your license to us. Use their elicensing on line system to transfer your license to Red Hot Realty, it is quick and easy to do. Our Broker License is#01523401
- Sales Associate’s compensation as provided in the Agreementt will be ONE HUNDRED PERCENT (100%) of Net Commission collected by Broker, less Broker charges, on all residential transactions. Non residential transactions are not part of this agreement; a separate arrangement must be made with Broker in advance for compensation.
- Fees payable to the Broker are ONE THOUSAND DOLLARS ($1000.00) for properties under a million dollars and ONE THOUSAND FIVE HUNDRED DOLLARS ($1,500.00) for properties over a million dollars, per “completed residential real estate transaction” including transactions in which Associate acts as a principal. The fee will be deducted from Sales Associate’s Net Commission. A dual agency is considered two transactions and two fees will be charged.
- Broker shall deduct $10 per $1,000.00 of commission, for local licenses and board’s membership fees. For Example: If your commission is $10,000 you pay only $100 for local licenses and board's commission.
- Sales Associate agrees to permit Broker to deduct from the Sales Associate’s portion of Net Fees on each transaction for Error & Omissions insurance, the following amounts:
1. A residential transaction less than a million dollars, will be charged TWO HUNDRED DOLLARS ($200) and over a million FOUR HUNDRED DOLLARS ($400)
2. A nonresidential transaction, under a million dollars will be charged THREE HUNDRED DOLLARS ($300) and for properties over a million dollars SIX HUNDRED DOLLARS ($600). A dual agency is considered two transactions.
3. In case of a lawsuit, Associate is responsible for the payment of Error & Omissions insurance deductible. The deductible must be paid to the Broker immediately when a lawsuit against Broker is filed due to the Sales Associate activities.
4. Sign up fee: (A saving of $400 to $500) FREE
5. Brokerage Management Fee: (A saving of $40-50/month) FREE
6. Annual Administrative Fee : (A saving of $200/year) FREE
7. File Review by Broker: (A Saving of $100/transaction) FREE
8. New Licensees Training & Coordination Fee: (A saving of $1000/first three transactions) FREE
9. Franchise fee (A saving of 8 to 10% of your commission) Free
- The fees set above are subject to review and change by Broker. Sales Associate understands and agrees that fees are not refundable.
- To process and pay commission to associate a completed file including all necessary documents with closing statement must be ready for final review by Broker or authorized staffs no later than 12:00 Noon of business day in the Broker’s main office.
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