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 "LIFETIME MEMBERSHIP" PLAN.
Q. In what way Saba Realty is different from other real estate brokerages?
A. Unlike traditional brokerages, Saba Realty is a '$600.00 a year '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 Saba Realty can offer such a low-cost business platform to agents?
A. The internet, mobile and digital technology have fundamentally changed many aspects of the real estate business and new brokerage like Saba Realty has much lower cost-base than traditional brokerages. Telework, Virtual offices, and the use of mobile communication tools make centralized back-office administration possible. With streamlined accounting and adminstration, many of the traditional brokerage costs are reduced dramatically. Saba Realty passes on the huge overhead savings to its agents. The management at Saba Realty is remunerated for their efforts based on a different compensation system.
Q. How Saba Realty makes money when the company charges only $600 a year to its agents?
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 agents to work at the company.
Basic Membership: This is 'pay-as-you-go' $600.00 a year, and an agent can opt to pay their $600.00 fee yearly or semi-yearly (@ $300.00 + GST). Under this plan, the real estate transaction fee is $350.00 for each deal processed by the company.
Q. How Saba Realty's billing system operates?
When you join the company, you pay the prorated quarterly charge under the Basic Membership or Membership Plus plan. The company's quearterly payments are billed at the begining of the month of January, April, July and October. There is a 5% GST to be added to the quarterly payments. The charges are pre-paid and non-refundable for each quarter - no credit or refund for the period remaining should you decide to switch brokerage, or quit the real estate business.
Q. What other costs I have to pay to operate my business at Saba Realty?
Beside your licensing fee payable to the Real Estate Council of B.C., every 2 years, you are responsible to pay your real estate board membership and MLS access fees. When you list a property, you are required to pay your MLS® listing fee around $48 for each listing at REGBV or FVREB where you are licensed. There is an extra MLS® listing charge of $125.00 for listings that are to be listed at other real estate boards in B.C.
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: email@example.com. 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), and we have a second office in Surrey near to Surrey City Centre.
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.