Frequently Asked Questions
We know that sometimes it can be scary to take that first step to change the 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 "MEMBERSHIP PLAN FOR REALTORS®".
Real Estate Membership Brokerage
Q. In what way Saba Realty is different from other real estate brokerages?
A. Unlike traditional brokerages, Saba Realty is a 'REALTOR® Membership Brokerage'. There are no commission split, no franchise fee, extra E&O insurance, tech fee, or other hidden charges to pay. You receive 100% of your real estate commission, subject to the payment of your transaction (deal) fee. Saba Realty is a FULL SERVICE real estate brokerage that provides you the management support, trust accounts, deal conveyancing, sales administration, training, marketing, and tech support to operate your real estate business.
Q. How the Saba Realty business system works, and why it is different from the traditional brokerage system?
Saba Realty is a realtor membership brokerage, and unlike the traditional brokerages we don't charge a month office admin/desk fees and many of other office fees like Franchise, extra E&O insurance, broker fee, tech fee, etc. The membership fee that our agents pay to the company is charged one a year to support and pay for our company's office expenses, staff payrolls, and other agent support services.
We operate a centralized Head Office, with satellite offices in various parts of the lower mainland of Vancouver and Fraser Vallley. This allows us to operate and streamlined our accounting, adminstration, conveyance, accounting and other support services efficiently. In turn, we pass on the huge savings to our agents through our membership business system.
How the two (2) Saba Realty's membership plans operate and what are the differences?
- BASIC MEMBERSHIP: This is $600.00 a year plan which is inclusive of our $240.00 a year admin/accounting charge. This yearly charge is prepaid, non-refundable and due on the first week of January each year.
- LIFETIME MEMBERSHIP: There is a ONE-TIME $1,000.00 one-time payment to join the company's "Lifetime Memberbership" plan. There is a yearly $240.00 admin/accounting charge which is prepaid, non-refundable and due on the first week of January each year.
Q. How much is Saba Realty's deal fee for a residential real estate transaction?
The deal fee is $350.00 + GST for each residential real estate transaction. For other fees and cahrges, kindly refer to Schedule "A" under the Independent Contractor Agreement.
Q. What are the fees and charges for Saba Realty?
The fees and charges are outlined as per "Schedule A" under the company's Independent Contractor Agreement. The charges and fees are subject to 5% GST which is to be added to the amount billed.
Agents at our branches in Greater Vancouver under REBGV are on "Agent Pay" system whereby REBGV will bill an agent directly for their board membership fee, sentricard access charge (and MLS® fee if the agent is on monthly pay option).
Agents who are members of FVREB, their membership fee and other charges are billed through Saba Realty each month. Upon receipt of the board invoices, Saba Realty in turn bills the agents their respectively monthly charges from FVREB.
Q. How Do I Transfer My License To Saba?
A. This is a simple process. We'll provide you the real estate council license 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.
For a new agent, a "New Membership Application Form" from REBGV or FVREB is required to be completed to become a member of the real estate board where he/she wishes to operate.
Q. Does Saba Pay The $250 Licence Transfer Fee?
A. No. You are responsible to pay your $250 license transfer fee to the Real Estate Council of B.C. when you transfer your license to Saba Realty. The council requires you to provide your credit card information and authorize payment of your transfer fee before the Real Estate Council of B.C. will process your license transfer application.
Q. Is Saba Planning To Open An Office Near To Where I Work?
A. Yes, we are planning to have branches at strategic locations to support our agents. Currently, our Head Office is based in Richmond (Alderbridge Business Plaza @ Shell Road/Alderbridge Way). We have a second office in Surrey, near to Surrey City Centre. We are planning to set up our Vancouver office in the very near future. Other branch locations we are interested to have a branch to connect with the local agents in their neighborhoods include Burnaby, Burquitlam and the North Shore.
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.