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 go ahead answer some of the most common questions we get asked right now.
Q. How SABA Realty makes money when the company charges no monthly desk fees?
A. The partners at Saba are active working REALTORS® with a long term view to build the brokerage to have 500 or more active agents in 3 to 5 years. The assets of a real estate company is the number of active agents in the company that are producing deals. The more agents the company has, the more deals that company can process. With 500 agents producing say, between 3 to 4 deals per year, we estimated the company will receive between $525,000 to $700,000 each year. In addition, the company will be receiving $180,000 revenue from the agents, each paying $360 a year annual admin./accounting fee. The company's "No Monthly Desk Fees" business platform charges each agent a one-time $500 joining fee which should add some cashflow to the company to maintain our operations.
Q. What other revenues the company is getting to maintain its operations?
We offer agents a marketing program that our agents who are participating in our leads generation system, are paying Saba Realty 20% referral commissions on converted deals. The company is promoting its real estate ecosystem for customers to easily find homes for sale in their neighborhoods, and to connect with Saba Realty's agents.
Q. How does The SABA DEAL CENTER work?
A. Saba Deal Center is a centralized real estate deal conveyance service for REALTORS®. Saba Realty provides you the conveyance service to process your deals and pay your commissions after deducting the fees due from you as per your Independent Contractor Agreement.
Q. What Are Saba’s Fees And Charges?
A. Unlike other brokerages, Saba's business model charges "No Monthly Desk Fees" to the company's agents. Saba Realty's Transaction/Deal Fee is at 3.5% of your earned commission for the deal (if your gross commission per end is $10,000, the deal fee is $360). The minimum commission charged is $250.00 and the maximum charge is $625.00 for high commission deals over $17,900.00.
Q. Are There Other Charges?
There is an annual administration/accounting fee of $360.00. Saba Realty's annual admin/accounting charge is prepaid, and it is due and payable the first week of January each year. The prorated cost is $30 a month for the first year that an agent joins the company. All other fees and charges payable to Saba are outlined in your Independent Contractor Agreement you signed with Saba.
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" to complete and return to us the completed form via email: email@example.com. Saba’s management will certify your transfer and send the form to the real estate council for processing. You will also receive from us the required form for your REBGV membership transfer, or completing the Schedule 1A form to apply for membership with REBGV.
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 bill you directly your membership dues, MLS accesss, sentrilock fee, etc.
Q. Is Saba Planning To Open An Office Near Where I Work?
A. Yes, we have already identified Vancouver, Coquitlam, Surrey and North Shore as the next 4 satellite office locations we like to add to our current office location in Richmond. We will act on our agents' feedbacks to add more 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.