Start-Up Costs
For new agents, initial costs include:
Membership in the local association of Realtors® is required for all active agents at this office, in compliance with the membership rules of our local association of Realtors®- the Beverly Hill Greater Los Angeles Association of Realtors (BHGLAAR). Membership also incorporates membership to the National Association of Realtors (NAR) and California Association of Realtors (CAR). Annual fee is $503.00. This fee is pro-rated for agent depending upon date of their association. Mandatory attendance to an ORIENTATION is required for all new members. This will enable the agent to access CAR Zipforms® for all contract and disclosure forms.
Coldwell Banker requires all agents to participate in a Legal Assistance program, also commonly referred to as “Errors & Omissions” or “E & O”. The annual fee is $2,560.00. The coverage is for one year from date of hire – or a 12 month program. Agents may pay in one lump sum [the “Early Option” in the amount of $2,460.00; monthly payments of $235.00; quarterly installments in the amount of $675.00. Membership in the Multiple Listing Service (MLS) is required of all agents. A fee of $210.00 is semi-annual and not pro-rated.
Business cards are recommended. They may be ordered in a minimum quantity of 500 starting at $35.00. There is a selection of card choices offered and prices vary.
It is recommended that new agents purchase PERSONALIZED “flip” or sandwich signs to be used when hosting an Open House – for the purpose of meeting new clients. The vendor is DEE SIGNS and a minimum order is 3 signs at a cost of $50.00 each. I also recommend new agents purchase a professional name tag to wear at Open Houses, Broker Previews and networking events!
Membership in the local MLS is also a requirement. This will enable the agent to access listing information. Dues are $210.00 semi-annually. Fees are pro-rated!
It is also recommended for all agents to purchase an electronic SUPRA LOCK BOX and LOCK BOX KEY from the MLS. This lox box is used by all MLS services participating in the CARETS system.
A SUPRA lock box is now required for all properties listed with the participating brokers and made accessible with a lock box. A combination lock box may also be used, in addition to a SUPRA lock box, not in place of one!
Cost of the electronic box is $105.00 or discounted if purchasing multiple lock boxes.
You must LEASE THE KEY .
Annual costs currently are: $224.67 including, activation fee, taxes, insurance, and programming. Fee is pro-rated May- January. Annual renewal subscription cost is around $170.00.
Category: New Agent Program
