Frequently Asked Questions
We know that sometimes it can be scary to take that first step to change company, and you probably have a few questions. So, to help you feel fully confident in the decision you're about to make, let us take a minute or two to answer some of the most commonly asked questions about Saba Realty and the company's business system.
Q. In what way Saba Realty is different from other real estate brokerages?
A. Unlike traditional brokerages, Saba Realty is a 'No Monthly Desk Fees' membership brokerage. You receive 100% of your real estate commission, subject to the payment of your transaction (deal) fee. There is no commission split or other hidden charges. You only pay a yearly $360.00 + GST fee for management support, trust accounts, conveyancing service, sales administration, training, marketing and tech support. This yearly cost is equivalent to A DOLLAR A DAY to operate your real estate business at Saba Realty.
Q. How Saba Realty can offer such a low cost business platform to agents?
A. The internet has fundamentally changed many aspects of the real estate business. On the brokerage front, centralized back-office administration, streamlined accounting and deal processing have resulted in huge cost savings for new brokerages like Saba Realty. The company has low overhead costs and it operates its business on a diffrent cost model than traditional brokerages. The management at Saba Realty is compensated based on a hybrid remuneration system when the company meets its performance targets.
Q. How Saba Realty makes money when the company charges no monthly desk fees?
A. The partners at Saba are active working REALTORS® who have a long term view in its business approach to build the company's business. The company receives various income streams to support the company's operations. The management envisions that over a period of 4 to 5 years, the company can be profitable when the company has 500 or more active agents. These agents are producing deals and they pay a transaction fee for each of their deals processed by the company.
Q. What is the cost to join Saba Realty's "No Monthly Desk Fees" program?
There is a one-time $500 joining fee to become a Lifetime Member of Saba Realty. This contributes additional revenue to the company to pay for some of the company's operating expenses.
Q. How Saba Realty's billing system operates?
Beside the joining fee payment of $500 billed at the time when your license is transferred to Saba Realty, your first year's cost of $360 + GST is calculated and invoiced according to the number of months ($30 + GST a month) you are effectively working at Saba Realty. The subsequent yearly $360 fee is billed on the first week of January each year. This fee is pre-paid for the whole year, and it is non-refundable should you decide to switch to another brokerage or quit the real estate business.
Q. What other costs I have to pay to operate my business at Saba Realty?
You are responsible to pay your own fees and dues that are payable to the real estate board where you are licensed. If you are a member of REGBV, you are billed directly by the Board your monthly membership fees around $95.00 + GST. As for your MLS® Access fee, you may choose the $225 per deal "pay-as-you-go" option, or elect to pay the monthly MLS Access charge around $70 a month. If you are doing more than 4 deals a year, you are better of paying the monthly $70 plan for MLS® access.
Q. How much Saba Realty charges to process a real estate deal?
A. Saba Realty's Deal Fee (also commonly referred to as transaction fee) is based on 3.5% of an agent's earned commission for the deal, with a minimum commission charge of $250.00 (where the earned commission is less than $7,142.86) and a maximum charge of $625.00 (when the earned commision is over $17,857.14) + GST. For example, if an agent's gross commission earning for a deal is $10,000, the deal fee is $350 + GST.
Q. How Do I Transfer My License To Saba?
A. This is a simple process. We'll provide you the real estate council licence application form "APPLICATION FOR REPRESENTATIVE, ASSOCIATE OR MANAGING BROKER LICENCE." Once completed, the form can be returned to us by email: firstname.lastname@example.org. Saba’s management will process your transfer application and send the form to the real estate council for processing. You will also receive from us the required notifiction form for your REBGV or FVREB membership change. For a new agent, a new membership application form from REBGV or FVREB is required to be completed to apply to become a member of the real estate board where the new agent wishes to operate.
Q. Does Saba Pays The $250 Licence Transfer Fee?
A. No. You will have to pay your $250 licence transfer fee by way of a credit card payment which the Real Estate Council of B.C. will deduct when the license is approved.
Q. Is Saba Planning To Open An Office Near To Where I Work?
A. Our Head Office is based in Richmond to cater to agents working in various cities around Greater Vancouver. We have a second office in Surrey to support our agents working in cities around Fraser Valley and Chilliwack District. As for other cities where the agents operate, we will response to our agents' feedbacks and needs to provide them additional support facilities in the future.
Q. What If I Have Other Questions?
A. You are welcome to talk to us and ask any other questions you may have about Saba Realty’s support services or how to transfer your license to Saba Realty.