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?
A. Saba Realty is a realtor membership brokerage, and unlike the traditional brokerages we don't charge a month office admin/desk fees and many other office fees like franchise fee, extra E&O insurance, brokerage fee, tech fee, etc that traditional brokerages may be charging. The yearly membership fee agents pays to the company is $600.00 that covers the company's office rental, business operation expenses, staff payrolls, and other support services provided by the company.
Q. How many offices and where are the Saba Realty's offices located?
A. The company currrently has 3 office locations; our Head Office is located in Richmond, with branch offices in Vancouver and Surrey. The company has a centralized operation for accounting, administration, conveyance/accounting and other support services.
Q. How the Saba Realty's membership plan operates?
A. Unlike a traditional real estate brokerage that charges a monthly fee from $150.00 to over $700.00 a month, Saba Realty's MEMBERSHIP Plan has a $600.00 a year charge. This charge helps to pay for the company's business costs which include office rental charges, management salaries, payroll expenses and other costs associated with running a business. This yearly cost is payable by the company's agents in early January each year. The fee is prepaid at the beginning of each year and it is non-refundable should an agent leave the company during the year.
Q. How much is Saba Realty's deal fee for a residential real estate transaction?
A. The deal fee is $350.00 + GST for each residential real estate transaction. The deal fee for pre-sale condos and townhouses is $400.00 due to extra time required to process the each presale deal. For other fees and charges, kindly refer to Schedule "A" under the Saba Realty's Independent Contractor Agreement.
Q. What are the fees and charges for Saba Realty?
A. The fees and charges beside the yearly membership fee and deal fee as explained above, are outlined as per "Schedule A" of the company's Independent Contractor Agreement. The charges and fees are subject to 5% GST.
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 and a third office in Vancouver (West Broadway & Oak Street).
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.