Real Estate Business Expenses for Our Agents

We try to minimize the expenses to help seasoned agents run a successful business.  Here’s a breakdown of what you can expect beginning a real estate career with DMS Properties, LLC Residential Real Estate Services:

• Business Cards (Approximately $100).  While these are not a necessity, especially in today’s world with cell phones and QR Codes, we recommend them as a way of personal promotion.

• Car Magnetic Signs (Roughly $100).  This is also not a necessity, but a good way to promote yourself as an established business person.

• Errors & Omissions Insurance.  This is absolutely required in the real estate business.  Our company blanket policy covers all of our agents, so there is no out-of-pocket expense to you.

• Board Dues.  This generally costs approximately $850 per year and is essential agents for many reasons.  Because most real estate brokerage companies are members of the associations, their agents must be, too.

• Desk and Transaction Fees.  We do not charge any “desk fees” to our agents and don’t force them to pay “transaction fees” for processing paperwork needed for running their business.

• Cell phone with a good data plan and a personal hot spot.  We do not provide these, but most people have them now already.  The personal hot spot comes in handy when you’re on the road.

• Internet access.  Our office is not equipped with WIFI and we use our personal hot spot.  You need to be able to get online elsewhere.  Most people already have access to Internet at home or on their cell phones and tablets.

• Agent Web Site.  We will set up an agent web site as part of our company web site.  Agents are not required to do provide their own “personal” web site or anything additional.  We would want you to write some of the copy that will be on your company page.  If an agent does decide to create their own online presence (web site and social media), it will be subject to Broker approval just like all forms of advertising.

We have developed an expansion of our Nationwide Referral Network.  It will allow licensed real estate agents can change the status of their license with the Maryland Real Estate Commission (MREC) to INACTIVE.  They would then “hang” their license with us.  The Real Estate Referral Agent Program allows licensed agents to avoid the yearly Board Dues to the National Association of Realtors, the Maryland Association of Realtors and the local Board, along with the quarterly MLS subscription costs.  The only thing the agents need to do is maintain their license and complete all required Continuing Education classes.  They can earn money when they refer their friends, relatives, co-workers and acquaintances to our agents.  We will pay them a 25% referral fee for each completed transaction.