Why should I join LoKation® Real Estate?
LoKation® Real Estate has a high level of standards and practices. The resources we offer our agents are better than what you would find at most large franchise and brand name real estate brokerages.
Our firm offers the same lead generation and IDX technology that you will find at a many of the larger “big-box” companies like eXp Realty, Keller Williams, and ReMax, but at a fraction of the cost to you.
How do we pass all of the commission along to you and still offer such a high level of service and support? Simple—we’re younger, hungrier and more agile than these old brick and mortar fixtures.
We’re doing it the new way, the LoKation® Way!
Are there any additional or hidden fees?
We’re dedicated to being fully transparent with our agents. There are no hidden fees.
While many 100% brokerages claim that there are “no hidden fees,” in our experience a simple phone call to the company reveals “services” that reduce your commission on each deal, like broker assistance, technology fees, compliance fees, or incredibly high insurance rates.
Another common ploy is low monthly rates, but high transaction fees. These are marketing gimmicks, and it shows in the sky-high brokerage turnover rates.
Our agent retention rate at LoKation® is over 87%. We think that speaks volumes about what we deliver, and the value each Realtor in our network receives.
Do I have to sign an annual contract to become a member?
No, you do not need to sign an annual contract. You can cancel your membership at any time with 30-days written notice. You will receive an email confirming your cancellation and after your last payment you will be removed from our system.
What is required to become a member?
To become a LoKation® Real Estate agent, you need to have a Colorado real estate license. You must also agree to our terms and conditions and the Independent Contractor Agreement.
Do I need to be a member of a Local Realtor Association?
No, but we do strongly encourage that you join a Local Realtor Association.
If you decide you do not need the MLS tools and resources, we have an option for you which does not obligate you to join a local Board of Realtors.
Are there any quotas or sales requirements?
No, LoKation® Real Estate agents do not need to meet any quotas or sales requirements, but our company is set up for production. We are here to help you meet your goals.
We have many multi-million-dollar producers here at LoKation® whom we highlight each year in our Top 50 Producer Events. We believe our peers and colleagues should strive for excellence.
What is the sign-up process, and how long does it take?
There are just 3 steps:
Step 1 – Click the “Join Online Now” button to take you to the registration page. There, you will be prompted to first establish a LoKation® Profile to access The Sphere (Our Office Intranet System). Enter your Point-of-Contact information (for your Agent Profile) and review and agree to the Independent Contractor Agreement.
Step 2 – Enter your credit card and billing information.
Step 3 – Fill out your W-9 forms, for tax purposes.
How long does it take to sign up? During normal business hours, the entire process can take less than 10 minutes. Your license can be activated within an hour.
How will I know all of the company procedures?
Our Policy and Procedures Manual is detailed and easy to read. You can always turn to the manual for “how to” do anything with us. The manual is sent to you automatically as soon as you join, and you can always download the latest version via our back office system.
How and when will I receive my commissions?
Our company does payroll almost every day. We prefer to pay our agents by direct deposit, however you can also opt to pick up a check or have an electronic check emailed to you. You can also take advantage of our “paid at closing” option on your sale to be paid by the Title Company at the Closing Table.
Do you charge E&O insurance on each transaction?
No, we do not charge E&O insurance on each transaction. Our E&O is billed quarterly, at $35 per quarter.
Does LoKation® offer training for agents?
Yes! If you are a brand new Realtor we encourage you to take advantage of what we offer and your local Realtor Association offers with your membership.
We have non-mandatory weekly and monthly meetings, events, and webinars to keep our agents at the forefront of the market. All of our training classes are simulcasted online through The Sphere, our online portal for agents, and are also recorded and archived to view later, on-demand and at your convenience.
Am I allowed to manage properties?
As an agent of LoKation® you are only able to provide services of Real Estate permitted under licensing law. If you would like to manage properties, you are able to do so but make sure to speak with one of our support staff on how we permit you to do this.