Real Estate Sales Exam?

How much does it cost to be a real estate sales person in the state of Washington?

• How much does it cost to be a real estate sales person in the state of Washington? I already know the fee for class that you need to attend. (60 hours of class) and the license fee for the exam etc etc. but I heard that you can’t just be a sales person. You have to join a broker. And broker will charge you a fee. Fees to hold your license in their office, fees for MLS service. Etc etc. I want to know how much is it run on year base? Thanks.

• Answer:

  It all depends on the broker you work for. Some may charge a monthly desk fee with a split, others may not charge a desk fee & only a commission split. In my office 100% commission split costs a monthly desk fee of $900. (This is not usually offerred to most new agents) Lower agent/broker splits are available for a lower desk fee. Some shops have rock bottom desk fees of $250 per month for 100%, but don't count on getting a whole lot of training or assitance. In that scenario, you will only rack up desk fees & flounder. Most Brokers have their options outlined in their Broker/Salesperson Agreement as to their commission plans, monthly fees. They may also charge you for photo copies, color copies, long distance faxing, signs, installation of signs, the use of their keyboxes, marketing materials such as nice file folders. It will be typical to have more expenses that are deducted from your commission checks, such as E&O insurance, B&O tax, franchise fee (if a franchised office), a transaction fee. Our MLS dues for NWMLS (out of Kirkland, WA) are $180 semi-annually. The annual lease for your MLS Supra key will be $100, unless you have a Treo or BlueBerry compatible PDA phone. If your broker's office belongs to the Board of Realtors, that membership will cost you $401 per year (SCCAR, if King County might be more) If the office belongs, you have no choice & MUST pay & maintain membership. Other insidentals might be the cost of an in-house transaction coordinator ($100 - $350 (prices vary) for each transaction you place with them to follow up on), or a marketing director that makes nice color home flyers for you. There are too many variables with the numerous brokerages to get much closer than that. You can call offices & ask what their typical fees are to get more specific numbers.