F.A.Q.s

( Frequently Asked Questions )

Here are  answers to typical questions asked by agents contemplating joining Independence Realty. If you have other questions or concerns,  please call us toll-free at (877)825-6064 or by e-mail: info@independencerealty.net

Q: Why Independence Realty?
A:  Because traditional real estate brokerages take lots of extra money from their real estate agents in the form of commission split and other fees. We do not. We only charge a nominal fee of 5% of your gross earned commission, or $595, whichever is greater.

Q: Some "E-Brokers" charge even less, why should I join this team?                                         A: Some brokerages offer "cheaper" versions of Independence Realty's program. We also know that there is a new crop of  "E-Brokers" out there that are offering ultra-low commissions splits in order to gain market share quickly. If you are on a quest for the absolute lowest-cost place to hang your license, find out if your prospective broker is more skilled at designing catchy websites and sending blast emails than running a real estate organization. Ask how many years of experience he or she has.   Ponder  this important question:  "will I receive qualified broker support if I need it?" Above all, will substantial professional liability insurance protection be in place if an unexpected legal issue arises? - Remember the old saying before making an important decision, " don't be penny-wise and pound-foolish"! The absolute lowest-cost provider may not always the best choice for you!

Q: I prefer working in an office environment. Can I open a Branch?
A: Yes you can. Several Independence Realty affiliates have already done so. See the "BRANCH OUT" link on our main web page or call us toll-free (877)825-6064 for more details.

Q: What can I expect to get paid when I close an escrow?
A: Our per-transaction broker fee is limited to the greater of $595 OR 5% based on the gross  commission amount. You always get this commission split, regardless of number of sales you close per year. There are no minimum sales requirements to meet, you always get this split. To use our commission calculator, click on the "Make More Money" link, see for yourself how much more you'll net at Independence Realty!

Q: How fast will I get paid upon closing an escrow?
A: You will get paid on the same day escrow is closed. You may get paid right out of escrow.

Q: Is your Commission Split subject to change?
A: Our commission split formula has been in effect since 1991. There are no plans to modify our 5-95% commission split structure now or in the future.

Q: What Does E&O Liability Insurance Cost?
A : $700 due upon affiliation, which covers all your transaction closings for a 12-month period from the date of your affiliation. $700 is billed each year thereafter. Beware of copy-cat E-Brokers  offering "No E&O costs" coupled with unrealistically low commission splits, or similar gimmicks.  All Independence Realty affiliates' transactions are covered by our Corporate Errors & Omission Liability Insurance Policy, underwritten by a "AAA"-rated, insurance company.

 Q: What are your advertising requirements?
A: All Independence Realty affiliates must use Independence Realty's trademark name and logo on all promotional / marketing materials while engaging in real estate activity.   This includes signs, flyers, brochures, webpages, business cards, etc.

Q: Can You recommend a sign company?
A: Try www.oakleysigns.com, a national graphics and sign company,  or www.championsigns.com in the greater San Diego area, or you may use a sign company of your choice in your local area. We do not endorse any specific company, the choice is entirely yours. Independence Realty's Trademark Logo must appear on all your marketing materials. 

Q. Can I negotiate my sales commissions with clients?
A. Yes. You are free to set your own sales commissions, as low or as high as you want. There are no minimum commission requirements, which gives you a competitive advantage over other brokerages.

Q. If I agree to give part of my commission to buyer or seller, is it legal? What is the best way to do that?
A. It is legal, and it should be done through escrow, to ensure that there is a written record of it.

Q: Can I broker loans? What is your commission split for loans?
A: Yes, you can broker loans through Independence Mortgage Company. We are approved with several wholesale lenders offering a variety of loan programs. Our commission split for loans is 10-90% or a minimum of $595 per transaction, whichever is greater.

Q: Can I take a loan application and refer my applicants to one of our in-house loan agent?
A: Yes. See our  agents list for agents' contact info. When you take a loan application from a client and refer it to one of our loan agents, you'll  receive a commission rebate.

Q: Does it matter where my home base is in California?
A: There are no geographical restrictions,  you can operate from your  own "virtual branch" anywhere in the State of California.

Q: What about Board of Realtors membership and MLS Access?
A: Independence Realty is a member of the C.A.R. , N.A.R and several regional MLS boards. Our affiliates access the MLS individually. Please inquire with your local Board of Realtors about  MLS access  and / or membership  costs, dues  and requirements. Affiliates are responsible for their individual MLS access fees.

Q: Can I get Broker Support When Needed?
A: Broker assistance and support is available via e-mail, through our toll-free number or via Fax. You'll  also receive Independence Realty's monthly E-Newsletter.

Q: Do I have to use company-designated Lenders, Escrow or Title Cos.? 
A: NO. You are free to select the services that are best suited for your clients' needs. As a policy, we do not sponsor or recommend any specific vendors or service providers, in order to prevent conflict-of-interest issues.

Q: What forms do Independence Realty Agents use ?
A: As REALTORS, we use  N.A.R. / C.A.R. - approved forms only. You may obtain forms at your local Board of Realtors’ office or simply download them from www.winforms.com. 

Q: Can I do property management through Independence Realty?
A: No. Property management is not allowed under Independence Realty's license.

Q: Do You Use Company-Specific Forms?
A:  The following Independence Realty-specific forms are required in all transactions:  3-Page Supplement To The Purchase Agreement, and DRE Transaction Checklist Form, required to report all your new transaction  activity, such as escrow, earnest money deposit, new property listings and completed transactions.  Activity reporting is  done via  Fax, U.S. Mail, or via Email. You may also  be required to use specific disclosure forms in your area, depending on the type of property, its  geographic location. To see our Company-Specific Forms, click on our "FORMS" link.  

Q: Do you provide a desk or office space ?
A: No. Our agents typically work from their home office. We have favored this mode of operation since 1991. Minimizing overhead is what helps our team members save and earn more. 
 
A: Is Independence Realty suitable for me?
A: Our business style and our mode of operation may not suitable for new or inexperienced agents. However, if you are a self-reliant professional who values autonomy, you'll find Independence can be very rewarding. 

Q: How can I join Independence Realty?
A: Call (877)825-6064 or email us at independencerealty@cox.net to request a broker-salesperson agreement to be sent to you by email.  

Q:How long will it take to complete my broker affiliation change?
A: As soon as you initiate your change of employment on the DRE's website and we certify your request through the DRE's E-Licensing process. (this only takes a couple minutes).

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