Hidden Details In REAL Broker's ICA You Missed!
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- เผยแพร่เมื่อ 31 พ.ค. 2024
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Joining REAL Broker offers you many benefits compared to other brokerage models however, there is some fine print to a few of these benefits. Today we are taking an in-depth look at the REAL Broker Independent Contractor Agreement and I point out several specific policies and rules you should be aware of BEFORE joining REAL broker.
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Malcolm Lawson
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ICA's can only have policies in them - not rules and regs on IC's - that then makes them a W2.
I have a couple questions.
1- You can flip, wholesale and develop as long as it’s your own separate llc ?
2- I heard you can’t call agents to recruit. How can I continue to build my traditional team? This is one way I connect with new agents and see if they are interested in joining my team ( not Rev share team).
3- Can you retire and still have Rev share come in? Or Is it done once you are?
4- Lastly, I understand not incentivizing agents to join your line but would I still be able to sell paid courses through my agent education company? ( Not give them away)
1. That is my understand. I do know agents here who are flipping homes. You can email support directly if you want to confirm. support@TheRealBrokerage.com
2. Yes, you can do things like that to grow your real estate team, just not to grow your downline. For example, I know agents who run ads to grow their team, and of course they also join their downline when they join. It's kind of a grey area or a loophole. But as long as you have the intention of growing a team, it's fine.
3. As of RIGHT NOW, you have to be a producing agent to receive your rev share. This means you need to earn at least $3,000 in commission every 6 months. They do this because they don't want full time recruiters joining real, they want actual agents. They HAVE announced they are launching a "retirement plan" this year where you can continue to receive rev share even if you are not in production. In my interview with Sharran, the president of REAL, he talks briefly about it. We have a conference at the end of this month and I think they may announce the details of it there. In Q1 they rolled out Willable Rev Share, where if you pass away you can leave your rev share to a non-agent like a child or grandchild who will continue receiving your monthly checks.
4. Yes, we have several agents selling online course, including myself. There is no problem there.
Would you like to hop on a video call and we can talk more? I can even show you some of the technology REAL gives to it's agents.
@@next-genagents7731 I’m going to contact support, are there alot of mega teams there and is team building encouraged by the brokerage?
Yeah, we have alot of big teams. If you watch my interview with Darren Langille, he transfered his 100 agent brokerage to REAL and turned it into a team. We have alot of others who have done the same.
That commission language violates The Sherman Antitrust Act there is no standard commission charged in a geographic area, and dual agency is also prohibited in some states. I’m debating if I should open my own brokerage or join real 😅 and doing all my research, thank you for the info !
Oh interesting. How would you like to hop on a video call and we can talk more about your options?
I agree And I’ve been taught that it violates Sherman antitrust to discuss commission outside of your brokerage too
I see BC has broken some of the recruiting rules already by promising a lot of BS to join under him. Overall all too many rules and fees on Real. One more thing to make Real and EXP better those recruiter should not just recruit but they have to preform as well to earn rev share
Oh really? I have not seen that. I'll look at his channel and see if I can find those videos, I absolutely will report him to leadership. REAL takes that stuff very seriously. If you know of any videos, can you link it here?
I looked some of BC's videos but did not see him really talking about REAL at all. And also, to your point, at REAL you ONLY receive revenue share if you are a "producing agent". This helps stop full time recruiters from joining.
is it wroth it , to get stocks in REAL as a solo agent?
yeah! I am very confident that cloud brokerages are the future of the real estate industry! I'm trying to accumulate as much stock as I can.
Does REAL broker have a "Luxury" presence or marketing or Luxury logo?
Same logo for luxury but we have a few different designs and branding choices. If you watch this video here, they go over REAL's new branding and logos th-cam.com/video/fObK0JUL81A/w-d-xo.html&lc=UgxLbWecaTesRG_KkpB4AaABAg
I’d like a copy of the ICA for USA
Hi Melissa, shoot me an email at Malcolm@livingInMaryland.com and I'll send it over to you.