Frequently Asked Questions
We know that sometimes it can be scary to take that first step 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. 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. Saba Realty offers realtors a ‘membership' business model whereby agents pay to the company just a norminal $360.00 a year administration and accounting charge. The company pays for works that are quantified in relation to the time required to complete the tasks. Moreover, the company's management cost is based on profit sharing, thereby there are minimal fixed overhead costs to operate Saba Realty's business.
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 adopted a long term view to build the company's business. The one-time $500 joining fee provides the company a small revenue during the growth phase of the company's development. The company 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 pay their transaction fees that are a part of the company's revenue streams. In addition, each agent pays $360 a year annual admin./accounting fee to support the company's operations. The company also receive commission income from other sources like referral commissions on deals referred out to its agents.
Q. What is the cost to join Saba Realty's "No Monthly Desk Fees" program?
There is a one-time $500 joining fee to becomme a member of Saba Realty too participate in the company's "A Dollar A Day" business platform. We also offer a $200 referral incentive to any of our agents who refers another agent to join Saba Realty. We believe in building a unique company culture and a community of agents who can share information and help one another in their business.
Q. What other revenues the company is getting to maintain its operations?
We offer agents a marketing program that our agents can participate to increase their business. For successful sales, Saba Realty will receive 25% referral commissions and the agent keeps 75% of the commission. The company is active on online marketing using its propriotery MLS® Search website to attract home sellers and buyers to use the company's service.
Q. How does the 'Saba Deal Centre' work?
A. Saba Deal Centre is a centralized real estate deal conveyance service for its REALTORS®. Saba Realty takes care of every aspect of a real estate deal, from accounting, conveyance and adminstration of a transaction, and pay out the real estate commission to the agent for the deal after deducting the appropriate deal fee.
Q. What Are Saba’s Fees And Charges?
A. Unlike other brokerages, Saba's business model being a membership brokerage, agents have "No Monthly Desk Fees" to pay. Instead, the agents only have to pay a yearly $360 admin/accounting fee. Saba Realty's Transaction/Deal 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. Are There Other Charges?
Other than the $500 one-time joing fee to be a member of Saba Realty, there is an annual administration/accounting fee of $360.00 + GST which works out to $30 a month. This yearly cost is prepaid for the year, and it is due and payable the first week of January each year. All other fees and charges payable to Saba are outlined in the agnet's Independent Contractor Agreement they signed with Saba Realty.
Q. How To 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: email@example.com. 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 new agents, REBGV and FVREB have their own new membership application forms that are required to be completed by a new agent to apply for membership with their respective real estate board.
Q. Does Saba Pays The $250 Licence Transfer Fee?
A. No. You will have to pay your $250 licence transfer fee to the real estate council. Saba can provide you some start up business cards.
Q. What About The Board's Membership Fees, Title Search, Lockbox And Other Board Charges?
A. Saba is operating on REBGV's 'Agent Pay' system which the Board will bill the agent directly their membership dues, MLS accesss, sentrilock fee, etc. For agents at the FVREB, the Board is planning to offer 'Agent Pay' system in the near future. As of now, agents at FVREB will bill Saba Realty an agent's board expenses. In turn, Saba Realty will bill the respective agent their monthly expenses.
Q. Is Saba Planning To Open An Office Near To Where I Work?
A. Yes, beside our current Richmond (Head Office) and Surrey offices, we have already identified Vancouver, Coquitlam and North Shore to locate our next 3 satellite offices. We will act on our agents' feedbacks to consider adding other satellite offices close to where they work.
Q. What If I Have Other Questions?
A. You are welcome to talk to us and ask any other questions you may have about your transfer or Saba’s support services.