Broker & Brokerage Costs, Services, & Responsibilities

This page is written for Locality Brokers. If you’re a Locality Seller wanting to know about our fees, click here. If you’re a Buyer interested in our rebate, click here.


For Brokers interested in joining Locality below is an in depth chart of the services and costs of being a Broker at Locality. We know it can be complicated so if you have questions please contact us.

Service

DOL and MLS Setup

E&O & Liability Insurance

Workers Comp Insurance

B&O Taxes

1 Time License Application & Test Fee (New Brokers Only)

Clock Hour Classes

License Renewal

MLS Dues

SUPRA E-Key Subscription

Email Address

Website Profile Setup

Google Drive & Transaction Desk Access

Training

Ongoing Contract & Deal Support

Marketing

Lockboxes

Yard Signs

Name Riders, Directional Arrows, Sold Riders

Cost

N/A

Varies (Appx $800 - $1200 per year)

$79.87 (Quarterly)

1.5% of Gross Revenue Yearly

$284.50

$0 -$299 (Varies, Every 2 Years)

$146.25 (Every 2 Years)

$240 Semi-Annually

$177.21 Annually (2016 Rate)

$50 Per Year

Appx $350 per year for website maintenance

Appx $50 Per Year

Varies

Varies

Varies

$105 Per box

$76.88 per sign

Varies (About $27 per Name Rider, About $16 per Directional Arrow, and About $6 per Sold Sign) 

Cost Responsibility

N/A

Locality & Broker

Locality

Locality & Broker

Broker

Broker

Broker

Broker

Broker

Locality

Locality

Locality

Locality

Locality

Locality & Broker

Broker

Locality

Broker

Locality Responsibility

Completes & Files Broker Setup or Transfer Forms

Provides Brokerage Coverage (Covers Broker while at company)

Provides L&I Workers Compensation Insurance as required by WA Law

Pays B&O Taxes on a Yearly Basis






Provides localityseattle.com Email Address, Calendar & Google Apps Account (all provided via Google)

Uploads Broker Profile to localityseattle.com

Provides access to Google Drive & Transaction Desk for Brokers to store contracts and documents.

Provides training for new Brokers and Brokers who need additional help. Training provided by experienced Designated Broker with over 500 closed transactions.

Provides ongoing support and advice on contracts and negotiations

Provides website marketing with rotating "buy box" for Brokers. Provides expert advice on building your own marketing campaigns, including advertising on Zillow, building your own website, and other tried and true lead generation syustems.


Provides yard sign for listings.


Broker Responsibility

Completes & Signs Required Forms

Enrolls in Broker Coverage (Covers Broker regardless of what brokerage license is at. Strongly encouraged.)


Has 1.5% of gross commission revenue withheld from paycheck

Pays fees to WA Department of LIcensing to take the real estate exam and get original license. Applies to new brokers only.

Enrolls in Clock Hour Classes to obtain or renew license. Clock Hour Classes are often provided free of charge by Title Companies or can be taken online for a fee.

Renews license every 2 years or as required by the WA Department of LIcensing.

Pays MLS Dues directly to NWMLS.

Enrolls in Supra E-Key Subscription (A Supra E-Key subscription is required to obtain the key needed to show houses.)


Writes Public Profile and Provides Profile Picture

Uploads all contracts and state required documents to comply with DOL regulations.



Invests time and money into building business through proven marketing campaigns. Build your own website, use lead generation tools, and more.

Purchases Supra Keyboxes via NWMLS (Required to list a home)


Purchases necesary signage for business (Encouraged but not required)