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I have no idea what's a legit fee as I'm not a re agent but that sounds like it sucks to pay all those. Some of them seem hokey-$300 printer? Do you have to buy it from them or is that just a list of estimates?
The commission split on the last page doesn't seem very clear
I have no idea what's a legit fee as I'm not a re agent but that sounds like it sucks to pay all those. Some of them seem hokey-$300 printer? Do you have to buy it from them or is that just a list of estimates?
The commission split on the last page doesn't seem very clear
Actually, the fees seem fairly clear and fairly common to me.
I appreciate that the agency is noting a list of expenses that a beginner may experience, like printer, laptop, etc. Yes, I would expect those to be out of pocket expenses.
Many people go into real estate without considering additional expenses and are surprised that they have to reach into their pockets to fund their business.
I work at Lyon (not Lyons) now. Most of the fees shown are their estimation of what you will need to spend, and are not charged by Lyon. MLS, CAR, and expenses to get started. E&O insurance is required and paid to Lyon.
As a new agent, you are required to have a mentor and pay that mentor for your first 4 transactions. Some are better than others and if you don't feel that your mentor is providing the value that you are paying for, go to the office manager/broker and ask for a different mentor or additional help. The mentor should be helping you both with the technical/legal side of things and the marketing/prospecting side of the business.
The fee structure is pretty good for a new agent since very little is required to pay to Lyon once you get started if you don't have any transactions ($100/mo). The split isn't bad but not great, but once you get your business going the split gets better and better.
I have found Lyon to be a great place to work, very supportive and friendly atmosphere, and great for training when I was new. Good luck with your new venture.
FYI - you can buy a printer and laptop, but all the offices have work rooms with printers (free printing) and computers you can use. I recommend that you as a new agent spend a lot of time in the workroom rather than at home or a desk, because it helps you meet the other agents and you can hear the discussions about the market that will help you in your business.
Actually, the fees seem fairly clear and fairly common to me.
I appreciate that the agency is noting a list of expenses that a beginner may experience, like printer, laptop, etc. Yes, I would expect those to be out of pocket expenses.
Many people go into real estate without considering additional expenses and are surprised that they have to reach into their pockets to fund their business.
I agree. They seem pretty normal. Not sure what that risk management fee is, as I haven't heard a fee called that before.
I work at Lyon (not Lyons) now. Most of the fees shown are their estimation of what you will need to spend, and are not charged by Lyon. MLS, CAR, and expenses to get started. E&O insurance is required and paid to Lyon.
As a new agent, you are required to have a mentor and pay that mentor for your first 4 transactions. Some are better than others and if you don't feel that your mentor is providing the value that you are paying for, go to the office manager/broker and ask for a different mentor or additional help. The mentor should be helping you both with the technical/legal side of things and the marketing/prospecting side of the business.
The fee structure is pretty good for a new agent since very little is required to pay to Lyon once you get started if you don't have any transactions ($100/mo). The split isn't bad but not great, but once you get your business going the split gets better and better.
I have found Lyon to be a great place to work, very supportive and friendly atmosphere, and great for training when I was new. Good luck with your new venture.
FYI - you can buy a printer and laptop, but all the offices have work rooms with printers (free printing) and computers you can use. I recommend that you as a new agent spend a lot of time in the workroom rather than at home or a desk, because it helps you meet the other agents and you can hear the discussions about the market that will help you in your business.
I like this program! Sounds like a firm that builds great professionals from gen-you-wine rookies. I applaud this approach. To the OP, if you can get this education and get paid, you would be a fool to go anywhere else, at least to start.
Wow! I do like this. We do a very good job with rookies, but I just may add some of these ideas to our mix.
As a brand, I love the balloon, and find that with certain local exceptions, it's always a winner for professionals, but this firm is doing local extremely well.
As a brand, I love the balloon, and find that with certain local exceptions, it's always a winner for professionals, but this firm is doing local extremely well.
Well, as an independent, we are the #1 firm in the greater Sacramento area based on $$ and volume.
OP, you picked a great place to begin your career.
Wow. That's really high from my perspective, but CA is much more litigious than we are here.
Yes, yes we are.
But Lyon also pays any deductible as long as we meet our checklist of items needed in an escrow (or have our very helpful transaction coordinators do it for us).
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