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Compensation and Fees/ Program Details
AMERICAN 1ST REALTY agents may chose one the following Individual or Group Compensation Plans (CPs).
COMPENSATION PLAN
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Plan
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Agent/ Loan Officer’s percentage of net commission
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Monthly Branch Fee
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EXECUTIVE
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100%
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$795
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PER TRANSACTION
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REAL ESTATE 100%
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$795 per closing
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PER TRANSACTION
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LOAN OFFICER 100%
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$595 per closing
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We have Group, Married Couples, partnerships and Team plans available... Call for details
GROUP CPs
Agents are allowed to do both Real Estate and Loans, training is available at no cost.
LOAN OFFICER CP
FEES
An administration fee in the amount of 6% of the gross broker commission (after deduction of referral fee, if any) is charged for each real estate and loan transaction.
Agent may earn administrative fee “off-sets” or credits as follows:
- 3% if the lender is Priority 1st Mortgage (on real estate transactions).
- 2% if title/escrow services are provided by Commerce Title or their affiliated title/ escrow companies.
A transaction coordination fee in the amount of $285 is charged for each “side” of a real estate transaction unless “double-ended” by the agent, in which case the total transaction fee is $385. Agents have the option to pass this fee on to clients.
A loan processing fee in the amount of $495 is charged for each loan transaction (an additional fee of $200 for a second loan in the same transaction)
An administrative loan compliance fee in the amount of $250 will be charged on those loans requiring review for regulatory compliance and quality control.
An errors and omissions insurance fee in the amount of $100 per residential real estate transaction and $100 per commercial real estate transaction and loan transaction is charged at closing.
REVENUE SHARING PROGRAM Call for details
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