Technology and now the economy are changing the real estate industry. Here at Green Gates, we are embracing those changes and putting them to work for you. Is it time for you to take a look at how much you pay to do your business and the value you are receiving? Here are a couple of comparisons of Green Gates and Other Companies: |
| What is provided: | We are here to support you and help your business grow. We do not lease you office space or equipment | Based on 6 transactions a year @ a gross commission of $5,000.00 per closing | Based on 20 transactions a year @ a gross commission of $5,000.00 per closing | Bull pen office or semi private office, desk, telephone, copier and fax plus hopefully some staff and supplies | Based on 6 transactions a year @ a gross commission of $5,000.00 per closing (50/50 split) | Based on 20 transactions a year @ a gross commission of $5,000.00 per closing |
How are Company Referrals Handled | company provides referrals to agents by area and "next on the list" system | 25% referral fee | each office handles referrals in unique manners.. most charge a 35% referral fee plus most put a limit on your "split" | 35% referral fee |
| | Green Gates | Green Gates Annual Totals | Other Companies | Other Company Annual Totals |
| "Split" | NONE | None | None | being conservative for a full service agency | $15,000.00 | $25,000.00 |
Transaction Processing fee | $395.00 | 2,370.00 | 7,900.00 | $100.00 | 600.00 | 2,000.00 |
| Franchise Fee | 0 | 0 | 0 | 6% off the top to 100k (or more) | 1,800.00 | 6,000.00 |
Referral & BPO Check Processing fee | 1% or $75.00 which ever is less | 0 | $75.00 | included above | included | included |
Monthly Agent Fee | 55.00 | 660.00 | 660.00 | 45.00 office fund 5.00 donation mine always seemed to be higher @ JLS (color copies, long distance?) | 600.00 | 600.00 |
Agent email (optional) | 5.00 | 60.00 (optional) | 60.00 (optional) | included | included | included |
Company Website with IDX | included | included | included | included | included | included |
Basic Services Total | | $ 3,090.00 (includes one time fee) | $ 8,695.00 (includes one time fee) | | $18,000.00 | $33,600.00 |
| You Keep | | $26,910.00 | $91,305.00 | | $12,000.00 | $66,400.00 |
The Difference to You | Green Gates does not lease you office space, therefore the difference is in the cost is the environment you work in - | +$14,910.00 | +$24,905.00 | does your current office provide you with a return on your 15k-24k investment? | | 
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Other Expenses associated with the office some are one time investments in your business, some are re-occurring monthly or annual expenses |
Local Paper | estimate based on full service agency averages | | 2000.00 | Let's say they run ad a week for you in the local paper - company branded page ad | | included |
Homes and Land Advertising | estimate based on full service agency averages 1/8th page 13 x's a year @ $125.00 each | | 1625.00 | 17 spaces for 60 agents = one ad each month average? | | included |
| "Virtual" Assistant | per the menu we are there for you when you need help We do more for you - for less money | | | costs vary some offices have listing and escrow coordinater(s) we have a menu of services | | |
myfax.com access fax's online thru your greengatesonline.com email | included w/ agent email | | included | generally the office has a fax and work room | | office fax included |
Primary For Sale Signs | included | | included | included | | included |
| Business Cards, Name Riders, Open House signs etc. | not included - estimate initial expense | | 500.00 | varies | | varies |
| Keyboxs | estimate over time expense | | 700.00 | some include them, some not JLS has agents paying for company key boxes, why not buy them for yourself? At least you can sell them if you don't want them and get some of your money back | | 240.00 (JLS) |
| Education | See Overtones School | | in-house education available for a fee | competitive - some do, some don't | | in-house education available for a fee |
| Marketing Material Templates | included | | included | some templates or help usually provided? | | included |
Office Supplies ink, paper, | Home Office only, so I'll estimate an annual amount | | 600.00 | my estimate is based on working in a full service agency.... it has not changed | | 600.00 |
Office Equipment, phones, computers, copier, fax, etc | Home Office only so I'll estimate an annual amount based on my expenses | | 1,200.00 + | again based on when I worked in a full service agency, it probably won't change for you because we all have this "stuff" anyway - and you can spend on equipment till your heart desires. | | 1,200.00 + |
| E & O | .90% of each transaction | | 900.00 | .75 % to $75.00 a transaction | | 750.00 to 1,050.00 |
| B & O | 1.5% of each transaction | | 1,500.00 | same everywhere in WA State | | 1,500.00 |
Other items | | 0 | 0 | NAR | 525.00 | 525.00 |
Green Gates put's you in the drivers seat deciding what your overhead will be. If you decide you want to operate from an office rather than from home, there are many low cost office spaces available and we encourage you to share / invest with your fellow agents. Your overhead will still be quite low. Let's say you want an office to work from rather than working out of your house. I have done some homework and found that you can rent a professional office space in Seattle with room for 3-6 people for $800.00 a month, in Port Orchard for $400.00 a month, your area is probably similar. As a Green Gates real estate agent you will be in a position to respond to market changes quickly. We are a full range of services company. We offer, but do not limit you to the "traditional" commission structure. The menu of services has been received by the public very well and offers you choices. You are an independent contractor. Your business is yours to manage. Our goal is to help you be there for your client before, during and after the sale. We are here to support you and help your business grow. |