New Real Estate Agent Q&A
New to the Real Estate Industry?
The entrepreneurial spirit is still strong in America. People look around and see others rapidly improving their incomes and Financial futures and wonder, “Why not me?”
Are you one of those people? Like hundreds of thousands of others, you may and your answer in a career in real estate.
The real estate industry has changed dramatically over the past several years. Buyers now start their home search on the Internet and want all the information at their fingertips. Sellers expect competent, professional service and an available agent who communicates regularly. In the past, many people entered real estate as a way to earn extra spending money to supplement their “real job”.
Today, real estate has become a compelling option for sophisticated entrepreneurs looking for an opportunity to earn what they are worth.
Are you one of those people? Like hundreds of thousands of others, you may and your answer in a career in real estate.
The real estate industry has changed dramatically over the past several years. Buyers now start their home search on the Internet and want all the information at their fingertips. Sellers expect competent, professional service and an available agent who communicates regularly. In the past, many people entered real estate as a way to earn extra spending money to supplement their “real job”.
Today, real estate has become a compelling option for sophisticated entrepreneurs looking for an opportunity to earn what they are worth.
Let's answer some questions
Can I start on a part-time basis?
Many top producing sales associates start their successful, full-time career as a part-time real estate agent. However, many that start out part-time do not succeed. The difference is the time, effort, and passion put in to getting started.
New full-time agents are required to spend 60 - 80 hours per week to get off the ground. Part-time agents must be willing and able to spend 20 - 40 hours building their real estate career in addition to their other obligations. Agents who do not succeed typically find themselves unable to devote the necessary hours to develop a thriving career.
To start at iPro Realty Network as a part-time agent requires your commitment to move to full-time within 6 months. We will work with you to create a business plan to outline a set of mutual expectations between you and the Brokerage, which includes everything from setting a time commitment to identifying personal goals.
Simply put, professionals that remain devoted to their business plan and commit to going full-time in a matter of months are welcome to start on a part-time basis. We also consider part-time professionals with a ready flow of clients such as teachers or firemen.
New full-time agents are required to spend 60 - 80 hours per week to get off the ground. Part-time agents must be willing and able to spend 20 - 40 hours building their real estate career in addition to their other obligations. Agents who do not succeed typically find themselves unable to devote the necessary hours to develop a thriving career.
To start at iPro Realty Network as a part-time agent requires your commitment to move to full-time within 6 months. We will work with you to create a business plan to outline a set of mutual expectations between you and the Brokerage, which includes everything from setting a time commitment to identifying personal goals.
Simply put, professionals that remain devoted to their business plan and commit to going full-time in a matter of months are welcome to start on a part-time basis. We also consider part-time professionals with a ready flow of clients such as teachers or firemen.
What there minimum competency requirements?
Our integrity requires that every single sales associate is thoroughly competent to represent Clients in a professional manner.
Graduating from 120 hours of real estate school and passing the State Exam is not near enough for you to professionally represent clients. Most of what is learned at real estate school does not directly relate to representing a client in a transaction or marketing a listing.
Therefore, every real estate agent associated with iPro Realty Network is required to attend our eight (8) "core competency" classes within their first 90 days of associating with us as well as participate in our mentorship program for your first four transaction sales to include at least one seller-side listing.
Graduating from 120 hours of real estate school and passing the State Exam is not near enough for you to professionally represent clients. Most of what is learned at real estate school does not directly relate to representing a client in a transaction or marketing a listing.
Therefore, every real estate agent associated with iPro Realty Network is required to attend our eight (8) "core competency" classes within their first 90 days of associating with us as well as participate in our mentorship program for your first four transaction sales to include at least one seller-side listing.
Do you have a Mentorship Program?
Yes. We recognize how difficult it is to get started in the Real Estate business. To provide the best possible avenue for success, we offer a hands-on approach to learning that has yielded tremendous results by allowing new licensees to pair with a seasoned Realtor to learn, practice, and gain experience and competency.
Our mentorship program allows you to grow at your own pace with a highly experienced agent. You are encouraged to shadow your Mentor while he/she finds new clients, goes on appointments, fills out paperwork, negotiates with buyers and/or sellers, completes electronic transaction management, solves problems, and closes transactions.
Perhaps even more importantly, your Mentor will be there to teach you how to find clients, to help you work with your own buyers and sellers, accompany you on appointments, provide assistance with the contracts and addenda, advise you on negotiations, instruct you on the "offer to close" process, and answer your many, many questions.
Since all real estate agents work on straight commission, to compensate your mentor and the company for their time, energy, attention, and effort building your competency and confidence, you will pay a 30% referral fee at the close of your first four transactions to include at least one seller-side transaction.
After that, you have the option to continue in the mentorship program by paying a 30% referral fee for as many transactions as you feel necessary.
Our mentorship program allows you to grow at your own pace with a highly experienced agent. You are encouraged to shadow your Mentor while he/she finds new clients, goes on appointments, fills out paperwork, negotiates with buyers and/or sellers, completes electronic transaction management, solves problems, and closes transactions.
Perhaps even more importantly, your Mentor will be there to teach you how to find clients, to help you work with your own buyers and sellers, accompany you on appointments, provide assistance with the contracts and addenda, advise you on negotiations, instruct you on the "offer to close" process, and answer your many, many questions.
Since all real estate agents work on straight commission, to compensate your mentor and the company for their time, energy, attention, and effort building your competency and confidence, you will pay a 30% referral fee at the close of your first four transactions to include at least one seller-side transaction.
After that, you have the option to continue in the mentorship program by paying a 30% referral fee for as many transactions as you feel necessary.
Is having a mentor required?
Yes. Every new licensee is paired with a mentor. We have discovered over the years that new agents are much more likely to succeed and willmdo so substantially faster when they have one-on-one help for their first few transactions and their first listing.
Our goal is the same as yours - for you to have a long and prosperous career in real estate. We both desire that you quickly become confident and competent enough to start closing transactions right away.
Just as important, we feel a deep obligation for each client on every transaction to experience outstanding representation and service. To provide that, a new licensee needs hand-holding and constant direction. Your mentor will provide that.
Our goal is the same as yours - for you to have a long and prosperous career in real estate. We both desire that you quickly become confident and competent enough to start closing transactions right away.
Just as important, we feel a deep obligation for each client on every transaction to experience outstanding representation and service. To provide that, a new licensee needs hand-holding and constant direction. Your mentor will provide that.
how are real estate agents paid?
Real estate agents only earn income through commission when a transaction closes. You will be an independent contractor. Becoming a real estate agent is like starting your own business.That means you receive no income until you represent a Client in the successful sale or purchase of a property. You receive no hourly pay or salary as a real estate agent. In addition, real estate agents are responsible for their own business expenses.
It is typical for a real estate agent to receive between 2% and 3% of a property's sales price for representing a client. This is paid when a transaction closes escrow. For example, on a $300,000 sale, the agent representing the buyer receives up to $9,000 and the agent representing the seller receives up to $9,000. Of course, these amounts are before your brokerage takes their share of the commission.
NOTE: Because no State or Federal income taxes, Social Security taxes, or Medicare taxes are withheld, it is imperative that you save at least 20 - 25% of your commissions for self-employment taxes. On the bright side, there are many expenses than can be deducted from your gross income as business expenses. Search the Internet for "Independent Contractor Income Taxes" and visit with a licensed tax accountant for additional details.
It is typical for a real estate agent to receive between 2% and 3% of a property's sales price for representing a client. This is paid when a transaction closes escrow. For example, on a $300,000 sale, the agent representing the buyer receives up to $9,000 and the agent representing the seller receives up to $9,000. Of course, these amounts are before your brokerage takes their share of the commission.
NOTE: Because no State or Federal income taxes, Social Security taxes, or Medicare taxes are withheld, it is imperative that you save at least 20 - 25% of your commissions for self-employment taxes. On the bright side, there are many expenses than can be deducted from your gross income as business expenses. Search the Internet for "Independent Contractor Income Taxes" and visit with a licensed tax accountant for additional details.
WHAT IS AN INDEPENDENT CONTRACTOR?
An Independent Contractor differs from an employee.
- Being an Independent Contractor allows you to enjoy family time, vacations, and other commitments without first obtaining a boss's permission.
- As an independent contractor your income is not guaranteed nor capped; what you earn is a reflection of the work and skill you put in. Therefore, it is important for independent contractors to set aside time for planning, training, and mentorship and to focus on acquiring new clients by prospecting, advertising, and marketing yourself.
- The company doesn't direct the activities of an independent contractor. The time you put in, how you generate business, and what meetings you attend are your choice.
- No State or Federal income, Social Security, or Medicare taxes are withheld from your commissions making it imperative to save at least 20% of your commissions for tax payments.
Am I required to be in the office?
No. You are not required to put in office time. You control your own schedule and work the hours and the days that you want.
This can be difficult for someone without an entrepreneurial spirit, who can't conduct their own business affairs, or who doesn't want to be their own boss. Before entering a career in real estate, it is important to determine if you are willing to set and live by regular work hours, be disciplined enough to talk to people about real estate every day, and face your fears of not knowing everything at the start.
Some real estate companies have an "employee" based philosophy, even for agents. They require you to take a turn answering the phones by taking "floor-time". They may limit parts of town you can work in. They may even require you to pay a "desk-fee" for the privilege of coming into the office. We are not one of those.
We strongly urge you to attend our monthly Team Meetings, our free continuing education classes, and our free comprehensive in-office training courses. You will be given door keys and have 24 hour access to our beautiful offices with their conference rooms, computers, copiers, and restrooms, but it is always up to you when you come in.
iPro Realty Network allows you the opportunity and freedom to run your own business as you see fit and does not require office hours or scheduled days.
This can be difficult for someone without an entrepreneurial spirit, who can't conduct their own business affairs, or who doesn't want to be their own boss. Before entering a career in real estate, it is important to determine if you are willing to set and live by regular work hours, be disciplined enough to talk to people about real estate every day, and face your fears of not knowing everything at the start.
Some real estate companies have an "employee" based philosophy, even for agents. They require you to take a turn answering the phones by taking "floor-time". They may limit parts of town you can work in. They may even require you to pay a "desk-fee" for the privilege of coming into the office. We are not one of those.
We strongly urge you to attend our monthly Team Meetings, our free continuing education classes, and our free comprehensive in-office training courses. You will be given door keys and have 24 hour access to our beautiful offices with their conference rooms, computers, copiers, and restrooms, but it is always up to you when you come in.
iPro Realty Network allows you the opportunity and freedom to run your own business as you see fit and does not require office hours or scheduled days.
How much do real estate agents make?
Predicting how much money you will make in real estate is difficult. Your earnings will be affected by sales ability, people skills, hard work, and market conditions. Agents who follow a business plan, work 10 - 12 hours per day, and quickly become competent frequently make over $100,000 or more their first year. We have experienced agents with a great sphere of influence who make $500,000 or more while others struggle to make a few sales each year.
The amount of income you will earn depends greatly upon your ability to overcome your fear and discomfort. The only way to succeed in real estate is to talk to people about real estate on a daily basis. Almost always, this requires you to initiate conversations, often with strangers. The unwillingness to regularly talk to new people is what dooms many aspiring agents.
The amount of income you will earn depends greatly upon your ability to overcome your fear and discomfort. The only way to succeed in real estate is to talk to people about real estate on a daily basis. Almost always, this requires you to initiate conversations, often with strangers. The unwillingness to regularly talk to new people is what dooms many aspiring agents.
do you provide me with leads?
We don't provide leads. We do teach you how to generate your own leads. If you are willing to follow our lead source training, you will generate enough quality lead to be highly successful.
Companies that provide leads typically charge a referral fee for each lead (25% - 50%) on top of your commission split and any other fees or share you are paying the brokerage.
If you feel you need to be provided leads, we recommend you join a team. Many top agents have formed a sales team where the lead agent provides leads, training, and supervision for a portion of your commission (typically 50% before the brokerage their share of the commission). Some agents have found this beneficial to their career and are satified with the lower commission per transaction for the security of regular leads.
Companies that provide leads typically charge a referral fee for each lead (25% - 50%) on top of your commission split and any other fees or share you are paying the brokerage.
If you feel you need to be provided leads, we recommend you join a team. Many top agents have formed a sales team where the lead agent provides leads, training, and supervision for a portion of your commission (typically 50% before the brokerage their share of the commission). Some agents have found this beneficial to their career and are satified with the lower commission per transaction for the security of regular leads.
What does it cost to get started in a real estate career?
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Starting a real estate career is similar to opening your own small business. It is not like a job. You are the CEO of your own business and you will need the mindset of an entrepreneur.
Compared to "looking for a job", becoming a real estate agent is very expensive. However, compared to opening any other type of business, such as a McDonalds, a flower shop, or a cupcake store, entering business as a real estate agent is very inexpensive. You will need a total of about $3,000 to get up and running. Also take into consideration the cost and time necessary to establish a business that meets your individual expectations. You should have sufficient capital or alternative sources of income to support yourself while you are building a clientele and making your first sales. |
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Start-up Costs
How much are my start-up costs in salt lake county?
Licensing Fees in Utah
Pre-licensing School: $400 - $600
Utah Real Estate Exam: $66
Utah Real Estate License: $158 ($100 Application, $18 Recovery Fund, $40 Fingerprint Card)
Association of Realtors
Salt Lake County brokerages are part of the Salt Lake Board of Realtors "SLBOR", the Utah Association of Realtors "UAR", and the National Association of Realtors "NAR". All associates of iPro Realty Network are required to join the Local, State, and National Associations of Realtors.
When you join and pay dues at SLBOR, you are simultaneously registered and pay for UAR and NAR.
Dues are prorated monthly with a July to July fiscal year, so they vary depending upon which month you join. In addition to the annual dues, SLBOR charges a new member fee of $450.
Maximum Annual Board Dues in Salt Lake County = $895 + $450 New Member Fee + $200 prorated SLBOR, UAR, & NAR = $1545
Annual renewal dues for combined SLBOR, UAR, and NAR are $895 due on June 30th of each year.
Multiple Listing Service (MLS)
Salt Lake County brokerages participate in the Wasatch Front Regional Multiple Listing Service (WFRMLS). All associates of iPro Realty Network are required to join the WFRMLS.
When a REALTOR® acquires a property listing, the next step is to take the listing to the market. A Multiple Listing Service is a cooperative tool and service that helps REALTORS® sell the property. When a REALTOR® inputs a listing into the WFRMLS, it will be broadcast to our entire REALTOR® subscriber base. The listing is also made available to the general public through their website, UtahrealEstate.com and on the websites of all REALTOR® subscribers, who then display listings through the MLS's Internet Data Exchange (IDX) program.
The set-up fee for WFRMLS is $200 and the monthly dues are $39/mo (or $444 if paid annually).
SUPRA Key
With active Realtor membership a benefit you receive is access to Supra lockboxes by way of digital app on your mobile phone. You are required to sign a Supra key holder agreement at the UCAOR office to redeem an authorization code. A UCAOR team member will help walk you through how to use your Supra key.
The SUPRA Key App is free.
SUPRA Lockbox
The SUPRA iBox lockbox uses infrared technology allows smartphones using the Supra eKEY® app to access the listing keys stored in the iBox key container. Real estate agents can simply point and beam their phone with the eKEY app the lockbox to interact with it. Each time an lockbox is opened, both the key and lockbox record the date, time, and the identify of the key-holder. The information is delivered to Supra’s secure database. The listing agent can also read the lockbox to view recent access information. When you obtain a listing, you will need to purchase a Supra Lockbox ($116/ea)
Marketing and Business Materials to Start
Marketing Materials Once You Obtain a Listing
iPro Realty Network Start-up Fee
Independent Contractor Considerations
As an independent contractor you will have many tax advantages (search Google for Independent Contractor Tax Deductions.) However, your are now responsible for costs and expenses you may not be used to including:
It is tempting to spend your entire commission check but remember, no taxes have been withheld. Most agents find saving 20% to 25% of each commission check provides enough for income tax.
Pre-licensing School: $400 - $600
Utah Real Estate Exam: $66
Utah Real Estate License: $158 ($100 Application, $18 Recovery Fund, $40 Fingerprint Card)
Association of Realtors
Salt Lake County brokerages are part of the Salt Lake Board of Realtors "SLBOR", the Utah Association of Realtors "UAR", and the National Association of Realtors "NAR". All associates of iPro Realty Network are required to join the Local, State, and National Associations of Realtors.
When you join and pay dues at SLBOR, you are simultaneously registered and pay for UAR and NAR.
Dues are prorated monthly with a July to July fiscal year, so they vary depending upon which month you join. In addition to the annual dues, SLBOR charges a new member fee of $450.
- Salt Lake Board of Realtors Annual Dues: $500
- Utah Association of Realtors Annual Dues: $210
- National Association of Realtors Annual Dues: $150
- National Association of Realtors Annual Ad Fund: $35
Maximum Annual Board Dues in Salt Lake County = $895 + $450 New Member Fee + $200 prorated SLBOR, UAR, & NAR = $1545
Annual renewal dues for combined SLBOR, UAR, and NAR are $895 due on June 30th of each year.
Multiple Listing Service (MLS)
Salt Lake County brokerages participate in the Wasatch Front Regional Multiple Listing Service (WFRMLS). All associates of iPro Realty Network are required to join the WFRMLS.
When a REALTOR® acquires a property listing, the next step is to take the listing to the market. A Multiple Listing Service is a cooperative tool and service that helps REALTORS® sell the property. When a REALTOR® inputs a listing into the WFRMLS, it will be broadcast to our entire REALTOR® subscriber base. The listing is also made available to the general public through their website, UtahrealEstate.com and on the websites of all REALTOR® subscribers, who then display listings through the MLS's Internet Data Exchange (IDX) program.
The set-up fee for WFRMLS is $200 and the monthly dues are $39/mo (or $444 if paid annually).
SUPRA Key
With active Realtor membership a benefit you receive is access to Supra lockboxes by way of digital app on your mobile phone. You are required to sign a Supra key holder agreement at the UCAOR office to redeem an authorization code. A UCAOR team member will help walk you through how to use your Supra key.
The SUPRA Key App is free.
SUPRA Lockbox
The SUPRA iBox lockbox uses infrared technology allows smartphones using the Supra eKEY® app to access the listing keys stored in the iBox key container. Real estate agents can simply point and beam their phone with the eKEY app the lockbox to interact with it. Each time an lockbox is opened, both the key and lockbox record the date, time, and the identify of the key-holder. The information is delivered to Supra’s secure database. The listing agent can also read the lockbox to view recent access information. When you obtain a listing, you will need to purchase a Supra Lockbox ($116/ea)
Marketing and Business Materials to Start
- Professional Personal Photographs: $40 - $200
- 1000 Business Cards: $50
- Name Badge: $6 - $12
- Laptop Computer: $400 - $1,000
- Gas to drive to view listings and show homes: $100 - $200/mo
- High-speed Internet connection
- Cell phone with plenty of minutes
- A real estate Customer Relationship Manager (CRM) - We recommend RealtyJuggler.com, ReferralMaker, or IXACTContact although there are dozens on-line to choose from.
Marketing Materials Once You Obtain a Listing
- Personalized Yard Sign: $25 - $39/
- Yard Sign Post: $25 - $75/ea
- SUPRA Lockbox: $116
- Open House materials and snacks: $25
iPro Realty Network Start-up Fee
- We charge $99 for set-up and orientation.
Independent Contractor Considerations
As an independent contractor you will have many tax advantages (search Google for Independent Contractor Tax Deductions.) However, your are now responsible for costs and expenses you may not be used to including:
- Health Insurance
- Self-employment Income Taxes
It is tempting to spend your entire commission check but remember, no taxes have been withheld. Most agents find saving 20% to 25% of each commission check provides enough for income tax.
How Much are my start-up costs in utah county?
Licensing Fees in Utah
Pre-licensing School: $400 - $600
Utah Real Estate Exam: $66
Utah Real Estate License: $158 ($100 Application, $18 Recovery Fund, $40 Fingerprint Card)
Association of Realtors
Utah County brokerages are part of the Utah Central Association of Realtors "UCAOR", the Utah Association of Realtors "UAR", and the National Association of Realtors "NAR". All associates of iPro Realty Network are required to join the Local, State, and National Associations of Realtors.
When you join and pay dues at UCAOR, you are simultaneously registered and pay for UAR and NAR.
Dues are prorated monthly from June to June so they vary depending upon which month you join. In addition to the annual dues, UCAOR charges a new member fee of $350. Since dues change periodically, please refer to the UCAOR website for the most current fees and dues.
Maximum Annual Board Dues in Utah County = $920 + $350 New Member Fee + $680 prorated UCAOR, UAR, & NAR = $1600.00
Annual renewal dues for UCAOR, UAR, and NAR are $920 due on June 30th of each year.
Multiple Listing Service (MLS)
Utah County brokerages participate in the Wasatch Front Regional Multiple Listing Service (WFRMLS). All associates of iPro Realty Network are required to join the WFRMLS.
When a REALTOR® acquires a property listing, the next step is to take the listing to the market. A Multiple Listing Service is a cooperative tool and service that helps REALTORS® sell the property. When a REALTOR® inputs a listing into the WFRMLS, it will be broadcast to our entire REALTOR® subscriber base. The listing is also made available to the general public through their website, UtahrealEstate.com and on the websites of all REALTOR® subscribers, who then display listings through the MLS's Internet Data Exchange (IDX) program.
The Set-up fee for WFRMLS is $200 and the monthly dues are $39/mo (or $444 if paid annually).
SUPRA Key
With active Realtor membership a benefit you receive is access to Supra lockboxes by way of digital app on your mobile phone. You are required to sign a Supra key holder agreement at the UCAOR office to redeem an authorization code. A UCAOR team member will help walk you through how to use your Supra key.
SUPRA Lockbox
The SUPRA iBox lockbox uses infrared technology allows smartphones using the Supra eKEY® app to access the listing keys stored in the iBox key container. Real estate agents can simply point and beam their phone with the eKEY app the lockbox to interact with it. Each time an lockbox is opened, both the key and lockbox record the date, time, and the identify of the key-holder. The information is delivered to Supra’s secure database. The listing agent can also read the lockbox to view recent access information. When you obtain a listing, you will need to purchase a Supra Lockbox ($116/ea)
Marketing and Business Materials to Start
Marketing Materials Once You Obtain a Listing
iPro Realty Network Start-up Fee
Independent Contractor Considerations
As an independent contractor you will have many tax advantages (search Google for Independent Contractor Tax Deductions.) However, your are now responsible for costs and expenses you may not be used to including:
It is tempting to spend your entire commission check but remember, no taxes have been withheld. Most agents find saving 20% to 25% of each commission check provides enough for income tax.
Pre-licensing School: $400 - $600
Utah Real Estate Exam: $66
Utah Real Estate License: $158 ($100 Application, $18 Recovery Fund, $40 Fingerprint Card)
Association of Realtors
Utah County brokerages are part of the Utah Central Association of Realtors "UCAOR", the Utah Association of Realtors "UAR", and the National Association of Realtors "NAR". All associates of iPro Realty Network are required to join the Local, State, and National Associations of Realtors.
When you join and pay dues at UCAOR, you are simultaneously registered and pay for UAR and NAR.
Dues are prorated monthly from June to June so they vary depending upon which month you join. In addition to the annual dues, UCAOR charges a new member fee of $350. Since dues change periodically, please refer to the UCAOR website for the most current fees and dues.
- Utah Central Association of Realtors: $525
- Utah Association of Realtors: $210
- National Association of Realtors: $150
- National Association of Realtors Ad Fund: $35
Maximum Annual Board Dues in Utah County = $920 + $350 New Member Fee + $680 prorated UCAOR, UAR, & NAR = $1600.00
Annual renewal dues for UCAOR, UAR, and NAR are $920 due on June 30th of each year.
Multiple Listing Service (MLS)
Utah County brokerages participate in the Wasatch Front Regional Multiple Listing Service (WFRMLS). All associates of iPro Realty Network are required to join the WFRMLS.
When a REALTOR® acquires a property listing, the next step is to take the listing to the market. A Multiple Listing Service is a cooperative tool and service that helps REALTORS® sell the property. When a REALTOR® inputs a listing into the WFRMLS, it will be broadcast to our entire REALTOR® subscriber base. The listing is also made available to the general public through their website, UtahrealEstate.com and on the websites of all REALTOR® subscribers, who then display listings through the MLS's Internet Data Exchange (IDX) program.
The Set-up fee for WFRMLS is $200 and the monthly dues are $39/mo (or $444 if paid annually).
SUPRA Key
With active Realtor membership a benefit you receive is access to Supra lockboxes by way of digital app on your mobile phone. You are required to sign a Supra key holder agreement at the UCAOR office to redeem an authorization code. A UCAOR team member will help walk you through how to use your Supra key.
SUPRA Lockbox
The SUPRA iBox lockbox uses infrared technology allows smartphones using the Supra eKEY® app to access the listing keys stored in the iBox key container. Real estate agents can simply point and beam their phone with the eKEY app the lockbox to interact with it. Each time an lockbox is opened, both the key and lockbox record the date, time, and the identify of the key-holder. The information is delivered to Supra’s secure database. The listing agent can also read the lockbox to view recent access information. When you obtain a listing, you will need to purchase a Supra Lockbox ($116/ea)
Marketing and Business Materials to Start
- Professional Personal Photographs: $40 - $200
- 1000 Business Cards: $50
- Name Badge: $6 - $10
- Laptop Computer: $400 - $1,000
- Gas to drive to view listings and show homes: $100 - $200/mo
- High-speed Internet connection
- Cell phone with plenty of minutes
- A real estate Customer Relationship Manager (CRM) - We recommend RealtyJuggler.com, ReferralMaker, or IXACTContact although there are dozens on-line to choose from.
Marketing Materials Once You Obtain a Listing
- Personalized Yard Sign: $25 - $39/ea
- Yard Sign Post: $25 - $75/ea
- SUPRA Lockbox: $116
iPro Realty Network Start-up Fee
- We charge $99 for set-up and orientation.
Independent Contractor Considerations
As an independent contractor you will have many tax advantages (search Google for Independent Contractor Tax Deductions.) However, your are now responsible for costs and expenses you may not be used to including:
- Health Insurance
- Self-employment Income Taxes
It is tempting to spend your entire commission check but remember, no taxes have been withheld. Most agents find saving 20% to 25% of each commission check provides enough for income tax.
How much are my start-up costs in davis/weber counties?
Licensing Fees in Utah
Pre-licensing School: $400 - $600
Utah Real Estate Exam: $66
Utah Real Estate License: $158 ($100 Application, $18 Recovery Fund, $40 Fingerprint Card)
Association of Realtors
Davis and Weber County brokerages are part of the Northern Wasatch Association of Realtors "NWAOR", the Utah Association of Realtors "UAR", and the National Association of Realtors "NAR". All associates of iPro Realty Network are required to join the Local, State, and National Associations of Realtors.
When you join and pay dues at NWAOR, you are simultaneously registered and pay for UAR and NAR.
Dues are prorated monthly with a July to July fiscal year, so they vary depending upon which month you join. In addition to the annual dues, NWAOR charges a new member fee of $450 plus midyear prorations if joining from June - December.
Maximum Annual Board Dues in Davis/Weber County = $805 + $450 New Member Fee + $338 prorated NWAOR, NAR, & UAR = $1593.50
Annual renewal dues at the combined NWAOR, UAR, and NAR are $805 due by June 30th of each year.
Multiple Listing Service (MLS)
Davis and Weber County brokerages participate in the Wasatch Front Regional Multiple Listing Service (WFRMLS). All associates of iPro Realty Network are required to join the WFRMLS.
When a REALTOR® acquires a property listing, the next step is to take the listing to the market. A Multiple Listing Service is a cooperative tool and service that helps REALTORS® sell the property. When a REALTOR® inputs a listing into the WFRMLS, it will be broadcast to our entire REALTOR® subscriber base. The listing is also made available to the general public through their website, UtahrealEstate.com and on the websites of all REALTOR® subscribers, who then display listings through the MLS's Internet Data Exchange (IDX) program.
The set-up fee for WFRMLS is $200 and the monthly dues are $39/mo (or $444 if paid annually).
SUPRA Key
With active Realtor membership a benefit you receive is access to Supra lockboxes by way of digital app on your mobile phone. You are required to sign a Supra key holder agreement at the UCAOR office to redeem an authorization code. A UCAOR team member will help walk you through how to use your Supra key.
The SUPRA Key App is free.
SUPRA Lockbox
The SUPRA iBox lockbox uses infrared technology allows smartphones using the Supra eKEY® app to access the listing keys stored in the iBox key container. Real estate agents can simply point and beam their phone with the eKEY app the lockbox to interact with it. Each time an lockbox is opened, both the key and lockbox record the date, time, and the identify of the key-holder. The information is delivered to Supra’s secure database. The listing agent can also read the lockbox to view recent access information. When you obtain a listing, you will need to purchase a Supra Lockbox ($116/ea)
Marketing and Business Materials to Start
Marketing Materials Once You Obtain a Listing
iPro Realty Network Start-up Fee
Independent Contractor Considerations
As an independent contractor you will have many tax advantages (search Google for Independent Contractor Tax Deductions.) However, your are now responsible for costs and expenses you may not be used to including:
It is tempting to spend your entire commission check but remember, no taxes have been withheld. Most agents find saving 20% to 25% of each commission check provides enough for income tax.
Pre-licensing School: $400 - $600
Utah Real Estate Exam: $66
Utah Real Estate License: $158 ($100 Application, $18 Recovery Fund, $40 Fingerprint Card)
Association of Realtors
Davis and Weber County brokerages are part of the Northern Wasatch Association of Realtors "NWAOR", the Utah Association of Realtors "UAR", and the National Association of Realtors "NAR". All associates of iPro Realty Network are required to join the Local, State, and National Associations of Realtors.
When you join and pay dues at NWAOR, you are simultaneously registered and pay for UAR and NAR.
Dues are prorated monthly with a July to July fiscal year, so they vary depending upon which month you join. In addition to the annual dues, NWAOR charges a new member fee of $450 plus midyear prorations if joining from June - December.
- Northern Wasatch Association of Realtors Annual Dues: $410
- Utah Association of Realtors Annual Dues: $210
- National Association of Realtors Annual Dues: $150
- National Association of Realtors Annual Ad Fund: $35
Maximum Annual Board Dues in Davis/Weber County = $805 + $450 New Member Fee + $338 prorated NWAOR, NAR, & UAR = $1593.50
Annual renewal dues at the combined NWAOR, UAR, and NAR are $805 due by June 30th of each year.
Multiple Listing Service (MLS)
Davis and Weber County brokerages participate in the Wasatch Front Regional Multiple Listing Service (WFRMLS). All associates of iPro Realty Network are required to join the WFRMLS.
When a REALTOR® acquires a property listing, the next step is to take the listing to the market. A Multiple Listing Service is a cooperative tool and service that helps REALTORS® sell the property. When a REALTOR® inputs a listing into the WFRMLS, it will be broadcast to our entire REALTOR® subscriber base. The listing is also made available to the general public through their website, UtahrealEstate.com and on the websites of all REALTOR® subscribers, who then display listings through the MLS's Internet Data Exchange (IDX) program.
The set-up fee for WFRMLS is $200 and the monthly dues are $39/mo (or $444 if paid annually).
SUPRA Key
With active Realtor membership a benefit you receive is access to Supra lockboxes by way of digital app on your mobile phone. You are required to sign a Supra key holder agreement at the UCAOR office to redeem an authorization code. A UCAOR team member will help walk you through how to use your Supra key.
The SUPRA Key App is free.
SUPRA Lockbox
The SUPRA iBox lockbox uses infrared technology allows smartphones using the Supra eKEY® app to access the listing keys stored in the iBox key container. Real estate agents can simply point and beam their phone with the eKEY app the lockbox to interact with it. Each time an lockbox is opened, both the key and lockbox record the date, time, and the identify of the key-holder. The information is delivered to Supra’s secure database. The listing agent can also read the lockbox to view recent access information. When you obtain a listing, you will need to purchase a Supra Lockbox ($116/ea)
Marketing and Business Materials to Start
- Professional Personal Photographs: $40 - $200
- 1000 Business Cards: $50
- Name Badge: $6 - $10
- Laptop Computer: $400 - $1,000
- Gas to drive to view listings and show homes: $100 - $200/mo
- High-speed Internet connection
- Cell phone with plenty of minutes
- A real estate Customer Relationship Manager (CRM) - We recommend RealtyJuggler.com, ReferralMaker, or IXACTContact although there are dozens on-line to choose from.
Marketing Materials Once You Obtain a Listing
- Personalized Yard Sign: $25 - $39/ea
- Yard Sign Post: $25 - $75/ea
- SUPRA Lockbox: $105
iPro Realty Network Start-up Fee
- We charge $99 for set-up and orientation.
Independent Contractor Considerations
As an independent contractor you will have many tax advantages (search Google for Independent Contractor Tax Deductions.) However, your are now responsible for costs and expenses you may not be used to including:
- Health Insurance
- Self-employment Income Taxes
It is tempting to spend your entire commission check but remember, no taxes have been withheld. Most agents find saving 20% to 25% of each commission check provides enough for income tax.
How much are my start-up costs in Cedar City?
Licensing Fees in Utah
Pre-licensing School: $400 - $600
Utah Real Estate Exam: $66
Utah Real Estate License: $158 ($100 Application, $18 Recovery Fund, $40 Fingerprint Card)
Association of Realtors
Iron County brokerages are part of the Iron County Board of Realtors "ICBR", the Utah Association of Realtors "UAR", and the National Association of Realtors "NAR". All associates of iPro Realty Network are required to join the Local, State, and National Associations of Realtors. When you join and pay dues at ICBR, you are simultaneously registered and pay for UAR and NAR.
Dues are prorated monthly with a July to July fiscal year, so they vary depending upon which month you join. In addition to the annual dues, ICBR charges a new member fee of $300.
BREAK DOWN OF FEES
START-UP TOTAL - Maximum un-prorated Annual Board Dues in Iron County
$890 for ICBR, UAR, and NAR
+ $300 New Member Fee
= $1,190
ANNUAL RENEWALS
After joining for the first time, annual renewal dues for combined ICBR, UAR, and NAR are
Multiple Listing Service (MLS)
Iron County brokerages participate in the FLEX Multiple Listing Service (FMLS). All associates of iPro Realty Network are required to join the FMLS just like every other real estate company.
When a REALTOR® acquires a property listing, the next step is to put the property on market for sale.
A Multiple Listing Service ("MLS") is a cooperative computerized data-base service that helps REALTORS® sell property. When a REALTOR® inputs a listing into the ICBR-MLS, it will be broadcast to the entire REALTOR® subscriber base. The listing is also made available to the general public on the websites of all REALTOR® subscribers, who then display listings through the MLS's Internet Data Exchange (IDX) program.
The set-up fee for FMLS is $ and the monthly dues are $/mo
SUPRA Key
With active Realtor membership a benefit you receive is access to Supra lockboxes by way of digital app on your mobile phone. You are required to sign a Supra key holder agreement at the UCAOR office to redeem an authorization code. A UCAOR team member will help walk you through how to use your Supra key.
The SUPRA Key App is free.
SUPRA Lockbox
The SUPRA iBox lockbox uses infrared technology allows smartphones using the Supra eKEY® app to access the listing keys stored in the iBox key container. Real estate agents can simply point and beam their phone with the eKEY app the lockbox to interact with it. Each time an lockbox is opened, both the key and lockbox record the date, time, and the identify of the key-holder. The information is delivered to Supra’s secure database. The listing agent can also read the lockbox to view recent access information. When you obtain a listing, you will need to purchase a Supra Lockbox ($116 - $150/ea)
Marketing and Business Materials to Start
Marketing Materials Once You Obtain a Listing
iPro Realty Network Start-up Fee
Independent Contractor Considerations
As an independent contractor you will have many tax advantages (search Google for Independent Contractor Tax Deductions.) However, your are now responsible for costs and expenses you may not be used to including:
It is tempting to spend your entire commission check but remember, no taxes have been withheld. Most agents find saving 20% to 25% of each commission check provides enough for income tax.
Pre-licensing School: $400 - $600
Utah Real Estate Exam: $66
Utah Real Estate License: $158 ($100 Application, $18 Recovery Fund, $40 Fingerprint Card)
Association of Realtors
Iron County brokerages are part of the Iron County Board of Realtors "ICBR", the Utah Association of Realtors "UAR", and the National Association of Realtors "NAR". All associates of iPro Realty Network are required to join the Local, State, and National Associations of Realtors. When you join and pay dues at ICBR, you are simultaneously registered and pay for UAR and NAR.
Dues are prorated monthly with a July to July fiscal year, so they vary depending upon which month you join. In addition to the annual dues, ICBR charges a new member fee of $300.
BREAK DOWN OF FEES
- Iron County Board of Realtors Annual Dues: $495
- Utah Association of Realtors Annual Dues: $210
- National Association of Realtors Annual Dues: $150
- National Association of Realtors Annual Ad Fund: $35
- New Member Fee: $300
START-UP TOTAL - Maximum un-prorated Annual Board Dues in Iron County
$890 for ICBR, UAR, and NAR
+ $300 New Member Fee
= $1,190
ANNUAL RENEWALS
After joining for the first time, annual renewal dues for combined ICBR, UAR, and NAR are
- $890 Board Dues and MLS Fees due on June 30th each year.
Multiple Listing Service (MLS)
Iron County brokerages participate in the FLEX Multiple Listing Service (FMLS). All associates of iPro Realty Network are required to join the FMLS just like every other real estate company.
When a REALTOR® acquires a property listing, the next step is to put the property on market for sale.
A Multiple Listing Service ("MLS") is a cooperative computerized data-base service that helps REALTORS® sell property. When a REALTOR® inputs a listing into the ICBR-MLS, it will be broadcast to the entire REALTOR® subscriber base. The listing is also made available to the general public on the websites of all REALTOR® subscribers, who then display listings through the MLS's Internet Data Exchange (IDX) program.
The set-up fee for FMLS is $ and the monthly dues are $/mo
SUPRA Key
With active Realtor membership a benefit you receive is access to Supra lockboxes by way of digital app on your mobile phone. You are required to sign a Supra key holder agreement at the UCAOR office to redeem an authorization code. A UCAOR team member will help walk you through how to use your Supra key.
The SUPRA Key App is free.
SUPRA Lockbox
The SUPRA iBox lockbox uses infrared technology allows smartphones using the Supra eKEY® app to access the listing keys stored in the iBox key container. Real estate agents can simply point and beam their phone with the eKEY app the lockbox to interact with it. Each time an lockbox is opened, both the key and lockbox record the date, time, and the identify of the key-holder. The information is delivered to Supra’s secure database. The listing agent can also read the lockbox to view recent access information. When you obtain a listing, you will need to purchase a Supra Lockbox ($116 - $150/ea)
Marketing and Business Materials to Start
- Professional Personal Photographs: $40 - $200
- 1000 Business Cards: $50
- Name Badge: $6 - $10
- Laptop Computer: $400 - $1,000
- Gas to drive to view listings and show homes: $100 - $200/mo
- High-speed Internet connection
- Cell phone with plenty of minutes
- A real estate Customer Relationship Manager (CRM) - We recommend RealtyJuggler.com, ReferralMaker, or IXACTContact although there are dozens on-line to choose from.
Marketing Materials Once You Obtain a Listing
- Personalized Yard Sign: $35 - $59/ea
- Yard Sign Post: $25 - $75/ea
- SUPRA Lockbox: $116
iPro Realty Network Start-up Fee
- We charge $99 for set-up and orientation.
Independent Contractor Considerations
As an independent contractor you will have many tax advantages (search Google for Independent Contractor Tax Deductions.) However, your are now responsible for costs and expenses you may not be used to including:
- Health Insurance
- Self-employment Income Taxes
It is tempting to spend your entire commission check but remember, no taxes have been withheld. Most agents find saving 20% to 25% of each commission check provides enough for income tax.
How much are my start-up costs in st. George?
Licensing Fees in Utah
Pre-licensing School: $400 - $600
Utah Real Estate Exam: $66
Utah Real Estate License: $158 ($100 Application, $18 Recovery Fund, $40 Fingerprint Card)
Association of Realtors
Washington County brokerages are part of the Washington County Board of Realtors "WCBR", the Utah Association of Realtors "UAR", and the National Association of Realtors "NAR". All agents at iPro Realty Network are required to join the Local, State, and National Associations of Realtors. This will be the same at any real estate company you choose to associate with.
When you join and pay dues at WCBR, you are simultaneously registered and pay for UAR and NAR.
Dues are prorated monthly from October to October so they vary depending upon which month you join. In addition to the annual dues, WCBR charges a new member application fee of $200. Since dues change periodically, please refer to the WCBR for the most current fees and dues.
BREAK DOWN OF FEES
START-UP TOTAL
Maximum Annual Board & MLS Dues to Join in Washington County:
$741 for WCBR, UAR, and NAR
+ $200 New Member Fee
+ $240 MLS Dues
+ $118 (3 mo) prorated UAR & NAR
= $1299
ANNUAL RENEWALS
After joining for the first-time, annual combined renewals for NAR, UAR, and WCBR are:
$741 Board Dues
+ $240 MLS Fees each year due by June 30th each year.
NOTE: Call the WCBR for current fees and dues.
Multiple Listing Service (MLS)
Washington County brokerages participate in the Washington County Board of Realtor Multiple Listing Service (WCBR-MLS). All associates of iPro Realty Network are required to join the WCBR-MLS just like every other real estate brokerage.
When a REALTOR® acquires a property listing, the next step is to put the listing on the market for sale.
A Multiple Listing Service ("MLS") is a cooperative computerized data-base service that helps REALTORS® sell property. When a REALTOR® inputs a listing into the WCBR-MLS, it will be broadcast to the entire REALTOR® subscriber base. The listing is also made available to the general public on the websites of all REALTOR® subscribers, who then display listings through the MLS's Internet Data Exchange (IDX) program.
Washington County Board of Realtor MLS annual dues are $240 and collected along with the Board of Realtor Dues (see WCBR-MLS for current fees).
SUPRA Key
With active Realtor membership a benefit you receive is access to Supra lockboxes by way of digital app on your mobile phone. You are required to sign a Supra key holder agreement at the UCAOR office to redeem an authorization code. A UCAOR team member will help walk you through how to use your Supra key.
SUPRA Lockbox
The SUPRA iBox lockbox uses infrared technology allows smartphones using the Supra eKEY® app to access the listing keys stored in the iBox key container. Real estate agents can simply point and beam their phone with the eKEY app the lockbox to interact with it. Each time an lockbox is opened, both the key and lockbox record the date, time, and the identify of the key-holder. The information is delivered to Supra’s secure database. The listing agent can also read the lockbox to view recent access information. When you obtain a listing, you will need to purchase a Supra Lockbox ($100 - $150/ea)
Marketing and Business Materials to Start Up
Marketing Materials Once You Obtain a Listing
iPro Realty Network Start-up Fee
Independent Contractor Considerations
As an independent contractor you will have many tax advantages (search Google for Independent Contractor Tax Deductions.) However, your are now responsible for costs and expenses you may not be accustomed to including:
It is tempting to spend your entire commission check but remember, no taxes have been withheld. Most agents find saving 20% to 25% of each commission check provides enough for income tax.
Pre-licensing School: $400 - $600
Utah Real Estate Exam: $66
Utah Real Estate License: $158 ($100 Application, $18 Recovery Fund, $40 Fingerprint Card)
Association of Realtors
Washington County brokerages are part of the Washington County Board of Realtors "WCBR", the Utah Association of Realtors "UAR", and the National Association of Realtors "NAR". All agents at iPro Realty Network are required to join the Local, State, and National Associations of Realtors. This will be the same at any real estate company you choose to associate with.
When you join and pay dues at WCBR, you are simultaneously registered and pay for UAR and NAR.
Dues are prorated monthly from October to October so they vary depending upon which month you join. In addition to the annual dues, WCBR charges a new member application fee of $200. Since dues change periodically, please refer to the WCBR for the most current fees and dues.
BREAK DOWN OF FEES
- Washington County Board of Realtors: $346
- Utah Association of Realtors: $210.00
- National Association of Realtors: $150.00
- National Association of Realtors Ad Fund: $35.00
- Washington County Board of Realtors MLS Dues: $240
- Application Fee: $200
START-UP TOTAL
Maximum Annual Board & MLS Dues to Join in Washington County:
$741 for WCBR, UAR, and NAR
+ $200 New Member Fee
+ $240 MLS Dues
+ $118 (3 mo) prorated UAR & NAR
= $1299
ANNUAL RENEWALS
After joining for the first-time, annual combined renewals for NAR, UAR, and WCBR are:
$741 Board Dues
+ $240 MLS Fees each year due by June 30th each year.
NOTE: Call the WCBR for current fees and dues.
Multiple Listing Service (MLS)
Washington County brokerages participate in the Washington County Board of Realtor Multiple Listing Service (WCBR-MLS). All associates of iPro Realty Network are required to join the WCBR-MLS just like every other real estate brokerage.
When a REALTOR® acquires a property listing, the next step is to put the listing on the market for sale.
A Multiple Listing Service ("MLS") is a cooperative computerized data-base service that helps REALTORS® sell property. When a REALTOR® inputs a listing into the WCBR-MLS, it will be broadcast to the entire REALTOR® subscriber base. The listing is also made available to the general public on the websites of all REALTOR® subscribers, who then display listings through the MLS's Internet Data Exchange (IDX) program.
Washington County Board of Realtor MLS annual dues are $240 and collected along with the Board of Realtor Dues (see WCBR-MLS for current fees).
SUPRA Key
With active Realtor membership a benefit you receive is access to Supra lockboxes by way of digital app on your mobile phone. You are required to sign a Supra key holder agreement at the UCAOR office to redeem an authorization code. A UCAOR team member will help walk you through how to use your Supra key.
SUPRA Lockbox
The SUPRA iBox lockbox uses infrared technology allows smartphones using the Supra eKEY® app to access the listing keys stored in the iBox key container. Real estate agents can simply point and beam their phone with the eKEY app the lockbox to interact with it. Each time an lockbox is opened, both the key and lockbox record the date, time, and the identify of the key-holder. The information is delivered to Supra’s secure database. The listing agent can also read the lockbox to view recent access information. When you obtain a listing, you will need to purchase a Supra Lockbox ($100 - $150/ea)
Marketing and Business Materials to Start Up
- Professional Personal Photographs: $40 - $200
- 1000 Business Cards: $50
- Name Badge: $6 - $10
- Laptop Computer: $400 - $1,000
- Gas to drive to view listings and show homes: $100 - $200/mo
- High-speed Internet connection
- Cell phone with plenty of minutes
- A real estate Customer Relationship Manager (CRM) - We recommend RealtyJuggler.com, ReferralMaker, or IXACTContact although there are dozens on-line to choose from.
Marketing Materials Once You Obtain a Listing
- Personalized Yard Sign: $40- $90/ea
- Yard Sign Post: $25 - $75/ea
- SUPRA Lockbox: $100 - $150
iPro Realty Network Start-up Fee
- We charge $99 for set-up and orientation.
Independent Contractor Considerations
As an independent contractor you will have many tax advantages (search Google for Independent Contractor Tax Deductions.) However, your are now responsible for costs and expenses you may not be accustomed to including:
- Health Insurance
- Self-employment Income Taxes
It is tempting to spend your entire commission check but remember, no taxes have been withheld. Most agents find saving 20% to 25% of each commission check provides enough for income tax.
How much are my start-up costs in summit/wasatch counties
Licensing Fees in Utah
Pre-licensing School: $400 - $600
Utah Real Estate Exam: $66
Utah Real Estate License: $158 ($100 Application, $18 Recovery Fund, $40 Fingerprint Card)
Association of Realtors
Summit and Wasatch County brokerages are part of the Park City Board of Realtors "PCBOR", the Utah Association of Realtors "UAR", and the National Association of Realtors "NAR". All associates of iPro Realty Network are required to join the Local, State, and National Associations of Realtors.
When you join and pay dues at PCBOR, you are simultaneously registered and pay for UAR and NAR.
Dues are prorated monthly with a July to July fiscal year, so they vary depending upon which month you join. In addition to the annual dues, PCBOR charges a new member fee of $450.
Un-prorated Annual Board Dues in Salt Lake County = $695 + $300 New Member Fee = $995
Multiple Listing Service (MLS)
Summit and Wasatch County brokerages participate in both the Wasatch Front Regional Multiple Listing Service (WFRMLS) and the Park City Board of Realtors MLS (PCMLS). All associates of iPro Realty Network are required to join either the WFRMLS or the PCMLS or both.
When a REALTOR® acquires a property listing, the next step is to take the listing to the market. A Multiple Listing Service is a cooperative tool and service that helps REALTORS® sell the property. When a REALTOR® inputs a listing into the WFRMLS or PCMLS, it will be broadcast to our entire REALTOR® subscriber base. The listing is also made available to the general public through their website, UtahrealEstate.com and on the websites of all REALTOR® subscribers, who then display listings through the MLS's Internet Data Exchange (IDX) program.
SUPRA Key
With active Realtor membership a benefit you receive is access to Supra lockboxes by way of digital app on your mobile phone. You are required to sign a Supra key holder agreement at the UCAOR office to redeem an authorization code. A UCAOR team member will help walk you through how to use your Supra key.
The SUPRA Key App is free.
SUPRA Lockbox
The SUPRA iBox lockbox uses infrared technology allows smartphones using the Supra eKEY® app to access the listing keys stored in the iBox key container. Real estate agents can simply point and beam their phone with the eKEY app the lockbox to interact with it. Each time an lockbox is opened, both the key and lockbox record the date, time, and the identify of the key-holder. The information is delivered to Supra’s secure database. The listing agent can also read the lockbox to view recent access information. When you obtain a listing, you will need to purchase a Supra Lockbox ($116/ea)
Marketing and Business Materials to Start
Marketing Materials Once You Obtain a Listing
iPro Realty Network Start-up Fee
Independent Contractor Considerations
As an independent contractor you will have many tax advantages (search Google for Independent Contractor Tax Deductions.) However, your are now responsible for costs and expenses you may not be used to including:
It is tempting to spend your entire commission check but remember, no taxes have been withheld. Most agents find saving 20% to 25% of each commission check provides enough for income tax.
Pre-licensing School: $400 - $600
Utah Real Estate Exam: $66
Utah Real Estate License: $158 ($100 Application, $18 Recovery Fund, $40 Fingerprint Card)
Association of Realtors
Summit and Wasatch County brokerages are part of the Park City Board of Realtors "PCBOR", the Utah Association of Realtors "UAR", and the National Association of Realtors "NAR". All associates of iPro Realty Network are required to join the Local, State, and National Associations of Realtors.
When you join and pay dues at PCBOR, you are simultaneously registered and pay for UAR and NAR.
Dues are prorated monthly with a July to July fiscal year, so they vary depending upon which month you join. In addition to the annual dues, PCBOR charges a new member fee of $450.
- Park City Board of Realtors Annual Dues: $300
- Utah Association of Realtors Annual Dues: $210
- National Association of Realtors Annual Dues: $150
- National Association of Realtors Annual Ad Fund: $35
Un-prorated Annual Board Dues in Salt Lake County = $695 + $300 New Member Fee = $995
Multiple Listing Service (MLS)
Summit and Wasatch County brokerages participate in both the Wasatch Front Regional Multiple Listing Service (WFRMLS) and the Park City Board of Realtors MLS (PCMLS). All associates of iPro Realty Network are required to join either the WFRMLS or the PCMLS or both.
When a REALTOR® acquires a property listing, the next step is to take the listing to the market. A Multiple Listing Service is a cooperative tool and service that helps REALTORS® sell the property. When a REALTOR® inputs a listing into the WFRMLS or PCMLS, it will be broadcast to our entire REALTOR® subscriber base. The listing is also made available to the general public through their website, UtahrealEstate.com and on the websites of all REALTOR® subscribers, who then display listings through the MLS's Internet Data Exchange (IDX) program.
- The set-up fee for WFRMLS is $200
- Monthly dues for the WFRMLS are $39/mo (or $444 if paid annually)
- The set-up fee for PCMLS is $200
- Annual Dues for the PCMLS are $200/yr
SUPRA Key
With active Realtor membership a benefit you receive is access to Supra lockboxes by way of digital app on your mobile phone. You are required to sign a Supra key holder agreement at the UCAOR office to redeem an authorization code. A UCAOR team member will help walk you through how to use your Supra key.
The SUPRA Key App is free.
SUPRA Lockbox
The SUPRA iBox lockbox uses infrared technology allows smartphones using the Supra eKEY® app to access the listing keys stored in the iBox key container. Real estate agents can simply point and beam their phone with the eKEY app the lockbox to interact with it. Each time an lockbox is opened, both the key and lockbox record the date, time, and the identify of the key-holder. The information is delivered to Supra’s secure database. The listing agent can also read the lockbox to view recent access information. When you obtain a listing, you will need to purchase a Supra Lockbox ($116/ea)
Marketing and Business Materials to Start
- Professional Personal Photographs: $40 - $200
- 1000 Business Cards: $50
- Name Badge: $6 - $10
- Laptop Computer: $400 - $1,000
- Gas to drive to view listings and show homes: $100 - $200/mo
- High-speed Internet connection
- Cell phone with plenty of minutes
- A real estate Customer Relationship Manager (CRM) - We recommend RealtyJuggler.com, ReferralMaker, or IXACTContact although there are dozens on-line to choose from.
Marketing Materials Once You Obtain a Listing
- Personalized Yard Sign: $25 - $39/ea
- Yard Sign Post: $25 - $75/ea
- SUPRA Lockbox: $116
iPro Realty Network Start-up Fee
- We charge $99 for set-up and orientation.
Independent Contractor Considerations
As an independent contractor you will have many tax advantages (search Google for Independent Contractor Tax Deductions.) However, your are now responsible for costs and expenses you may not be used to including:
- Health Insurance
- Self-employment Income Taxes
It is tempting to spend your entire commission check but remember, no taxes have been withheld. Most agents find saving 20% to 25% of each commission check provides enough for income tax.
Real Estate School Discounts
We have arranged discounts for you at the following Utah Real Estate Schools
We have arranged discounts for you at the following Utah Real Estate Schools
Pass rates up to 30% higher. No school beats our pass rates. Period. If they advertise 90%, ask them how many times you have to take the test to get that rating. Our first time pass rates are second to none, and range as high as 30% higher than other leading schools. We have the stats to back that up.
$50 Off Using Broker Referral Code: 1REFERRAL |
Utah Real Estate School, TSG consistently has a higher pass rate than the state average. They are dedicated to helping you pass your exams by having certified instructors available every day of the week. They also offer FREE LIVE TEST PREPARATION CLASSES on the first Saturday of each month. RSVP is required.
$50 Off when you mention iPro Realty Network at Sign-up |
How do real estate Commissions work?
iPro Realty Network offers the most net income to agents, with the most benefits, of any real estate company in Utah. You may not be familiar with how agents earn commissions.
When a Realtor lists a home for sale, the Listing Brokerage contracts with the Seller to pay a commission. That Listing Brokerage then offers all other Brokerages (and their agents) a Buyer's Agent Commission (BAC) to present and represent a buyer for that listing through the Realtor property listing data-base called the Multiple Listing Service (MLS). In this example, we are using a 6% listing commission which is then split 50/50 between the Listing Brokerage and the Buyer Brokerage.
When a Realtor lists a home for sale, the Listing Brokerage contracts with the Seller to pay a commission. That Listing Brokerage then offers all other Brokerages (and their agents) a Buyer's Agent Commission (BAC) to present and represent a buyer for that listing through the Realtor property listing data-base called the Multiple Listing Service (MLS). In this example, we are using a 6% listing commission which is then split 50/50 between the Listing Brokerage and the Buyer Brokerage.
New Licensee Mentorship
Succeed Faster. Start your career off learning from the best.
There are hundreds of little details to take care of when professionally representing a client. You will be receiving many thousands of dollars to represent a home buyer or home seller and they deserve the highest level of professionalism. Right now, you don't know what you don't know and that puts you, your clients, and the company in jeopardy!
Our iPro Realty Network New Licensee Program guides you through every detail. Just a text, email, or phone call away, your own personal mentor is available to assure the transaction goes smoothly - while preparing you to work independently:
Because all real estate agents work strictly on commission and the time spent with you is time not spent building their own individual businesses, you must agree to pay your mentor a 30% referral fee on your first five transactions including at least one listing. You will definitely find this arrangement well worth the money.
Our new licensee mentor program has proven to dramatically increase the success rate for new agents. Call us today to see how we can help you.
There are hundreds of little details to take care of when professionally representing a client. You will be receiving many thousands of dollars to represent a home buyer or home seller and they deserve the highest level of professionalism. Right now, you don't know what you don't know and that puts you, your clients, and the company in jeopardy!
Our iPro Realty Network New Licensee Program guides you through every detail. Just a text, email, or phone call away, your own personal mentor is available to assure the transaction goes smoothly - while preparing you to work independently:
- Shadow a top producing agent while they are working with buyers, consulting with sellers, negotiating, finding new clients, and just doing their routine paperwork and computer-work.
- Learn and practice how to complete an accurate home pricing analysis (commonly referred to as a CMA)
- Develop your own business plan and start building your own clientele with the guidance of a top-seller.
- Obtain hands-on help with your first transactions to ensure contracts, addenda, negotiations, time-lines, inspections, re-negotiations, and settlement are successfully and accurately completed.
Because all real estate agents work strictly on commission and the time spent with you is time not spent building their own individual businesses, you must agree to pay your mentor a 30% referral fee on your first five transactions including at least one listing. You will definitely find this arrangement well worth the money.
Our new licensee mentor program has proven to dramatically increase the success rate for new agents. Call us today to see how we can help you.
