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 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 and digital and mobile technologies have fundamentally changed many aspects of the real estate business. Telework, Virtual offices, and the use of today's mobile communication tools make centralized back-office administration, streamlined accounting, and deal processing drastically reduce the many costs that traditional brokerages have to carry. Saba Realty is able to take advantage of these cost savings, and pass on the savings to its agents. The management at Saba Realty is compensated based on a hybrid remuneration system that guides the company to achieve its short and long term goals.
Q. How Saba Realty makes money when the company charges no monthly desk fees?
A. The company has various income streams to support the company's business operations. The partners at Saba are active working REALTORS® and the management has a long term view of its business to build up its network of realtors. The management envisions that over a period of 3 to 5 years, the company can grow steadily to add many more happy agents who will stay with the company. In addition to the one-time joining fee and yearly admin/accounting fee, the company's agents are producing deals that generate deal/transaction fees to the company.
Q. What is the cost to join Saba Realty's "No Monthly Desk/Admin Fees" program?
There is a one-time $500 joining fee to become a Lifetime Member of Saba Realty. The monthly cost an agent pays to his/her brokerage can be from $250 to over $500 a month in addition to their licensing and real estate board fees. The cost savings for agents at Saba Realty, when compared to traditional brokerages, can be as much as 75% to 95%.
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 in 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?
Besides paying for your 2-year licensing and Errors & Omissions Insurance, you are responsible to pay your own real estate membership fee (around $95 a month) and other charges for lockbox access. dues that are payable to the real estate board where you are licensed. All agents are required to pay their Paragon MLS® Portal Access fee which can be paid by:
- $225 per deal "pay-as-you-go" option, or
- elect to pay the monthly MLS Access charge around $70 a month (this option is cheaper if you are doing more than 4 deals a year).
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 $350.00 + GST for each deal processed by the company.
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. You will also receive from us the required notification 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 license 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 (Alderbridge Business Plaza @ Shell Road/Alderbridge Way) and we have a second office in Surrey near to Surrey City Centre. For agents who need to use closing rooms to meet their clients, we are looking into working with Co-working Offices in various cities around Greater Vancouver. Additional support facilities in other areas will be considered 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.