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  2. Frequently Asked Questions

Frequently Asked Questions

We compiled a list of the most commonly asked questions about our virtual real estate office in Texas. Our goal is to give you as much information as possible to help you make the right decision. If you still have questions or concerns, please contact us and we would be happy to answer them for you.

Why Choose Citiwide Real Estate?

Operating since 2002, Citiwide Real Estate has several programs to choose from. Agents can choose the program that best fits their needs. Unlike traditional brokers that take 30-60 percent of the total gross commission and many different fees, Citiwide Real Estate has four different programs to choose from. We charge only $69 per month with a $249 per transaction for Platinum Plan, or $19 per month with a $449 transaction fee for Silver Plan, $25 per month with a 85% split for Gold Plan, and a straight 80% split for Bronze Plan.


How much will it cost to join Citiwide?

Depending on which plan you choose, it could cost you nothing. Simply fill out the online application and you could become a Citiwide Real Estate agent in less than 30 minutes.

What is the cost of E&O insurance?

YES! We are insured with an American BEST A-Rate Insurance Carrier. You can be assured that we will always carry adequate amounts of insurance. Our insurance includes free legal support, agent-owned property coverage, and the lowest available deductible of $5000.

Are there any hidden fees?

NO! We offer exactly what we advertise. No Penalties, Hidden Fees, Quit Fees, etc.

I currently have a transaction in escrow, do I have to wait for it to close?

There is many different answers to this question. It all depends on your employment agreement with your current broker. Our employment agreement allows our agents to take their business with them if they decide to move. Most employment agreements allow you to leave and still earn your commission as long as you complete all of your duties.

How soon do I get paid after an escrow has been closed?

You get paid directly out of escrow, in any manner you choose (i.e. mail you a check, pick up check from local escrow office, wire to your bank). All we need is a completed transaction file, and we will instruct escrow to pay you directly at closing.

Do you provide office space or conference rooms?

Asolutely. We offer to our agents 24/7 access to ou convenient office locations.

Are there any meetings required?

No! We feel that our agents are busy enough as it is. We do not require attendance at any weekly or monthly meetings. We do have occasional meetings to discus changes to our business and any form/law changes if needed.

Can I negotiate my commissions with clients?

Yes, you determine the total sales commissions on your transactions.

Can I use any lender, escrow company, or title company for my transactions?

Yes. You are free to use services that best fit your client's needs.

Can I agree to give part of my commission to my client? Is it legal?

Yes! You can make a refund to the principle (buyer or seller) only.

1. If you want the refund to be distributed from escrow, you have to write it into the contract or addendum. This way it is included in the escrow instructions and the final statement. (Recommended)

2. You can have Citiwide Real Estate distribute the refund to your buyer or seller. One check will go to you and the other will go to your client(s). A W-9 form is required otherwise the refund will be taxable to the agent.

3. You can make the refund to the buyer or seller yourself but may have to pay income taxes on it. Please advise with your tax advisor before choosing these options.


Is there a minimum sales volume at Citiwide Real Estate?

Although we naturally attract a lot of top-producing agents, there are no minimum production requirements at this time. You will only pay your transaction fee per closed.

What about Board of Realtor membership and MLS Access?

Citiwide is a member of NAR, TAR and Metrotex Association.

Website


Marketing

We offer exclusive designs for our agents. We have a full marketing department which offers Business Cards, Postcards, Flyers, Signs, Name Tag, etc.

Do you provide training for new agents?

Yes! we will provide you with all the training a traditional broker would. You are welcome to use our support and we will expertly guide you through your first transaction(s) to ensure that you get your commission check fast.

Can I get broker support when I need it?

Absolutely. We pride ourselves on delivering world class broker support and training to our agents, and recommend that they reach out to us on anything they are unsure of or need assistance with. Our broker (David Le) is easy to get a hold of, and eager to help. Broker support is available during normal business hours via phone or email, and afterhours through our "Broker Support Hotline". His philosophy is, "My agents are my clients"

How do I join Citiwide Real Estate?