You’ve got questions? We’ve got answers.
Why should I join LoKation®?
Lokation Real Estate has a high level of standards and practices. Our resources offered to 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, ReMax and more. How do we pass all of the commission along to you and still offer this great opportunity? We are 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?
No. While most claim “no hidden fees” it is our experience that a simple phone call usually can ferret out “services” that reduce your commission on each deal. These could be in the form of broker assistance, technology fees, compliance fees, or incredibly high insurance rates. Another ploy is low monthly rates, but high transaction fees. These are marketing gimmicks that leads to a high turnover rates. We have over 87% retention rate with our agents and we think that speaks volumes to what we deliver and the value received by each Realtor.
Do I have to sign an annual contract to become a member?
No. 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?
You must have a FL 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 strongly encourage it. 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, however 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. Our peers and colleagues should strive for excellence.
What is the sign up process and how long does it take.
There are three (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). After you enter your Point-of-Contact information (for Agent Profile) you can review the Independent Contractor Agreement. If all is good, agree to our terms and you will move to Step 2 – Credit Card Billing followed by Step 3 – W-9 forms for tax purposes. During normal business hours the entire process can take less than ten minutes and your license can be activated within the 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 that for “how to” do anything with us. This is sent to you automatically when you join and is always available to download on our back office system for the most updated version.
How and when do we receive our commissions?
Our company does payroll almost every day. We prefer to pay our agents by direct deposit however you can still 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. Our E&O is billed quarterly at $35 per quarter.
Does LoKation® do training for its agents?
Yes! If you are brand new we encourage you to take advantage of what we offer and everything 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 or simulcasted online through The Sphere portal and are also recorded and archived for later viewing on-demand.
Am I allowed to manage properties?
As an agent of LoKation® you are only 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.