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Richie Alan Naggar, agent & author (people first...then business Ran Right Realty )

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Rainmaker
613,494
Eve Alexander
Buyers Broker of Florida - Tampa, FL
Exclusively Representing ONLY Tampa Home Buyers

It just proves that agents never read contracts...

 

Eve

Jan 25, 2021 09:06 AM
Rainmaker
1,712,030
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

I never heard a Brokerage charging such a fee, as an agent, why would anyone do that?

Jan 25, 2021 09:05 AM
Rainmaker
717,035
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

I have never heard of such a practice.

Jan 25, 2021 09:16 AM
Ambassador
5,258,239
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

OUCH! That's pretty pricey! 

Thankfully RE/MAX doesn't charge a dime for training. Training benefits the company so, you'd THINK this would be part of what the brokerage does for their agents. 

Glad she got out of there, Richie!

Jan 25, 2021 09:39 AM
Rainmaker
1,847,731
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Holy moley! Have heard of some fees but not like this. Indentured servitude comes to mind here. Even after leaving he is paying? They must have some sort of lien on him. Poor guy.

Jan 25, 2021 09:33 AM
Ambassador
3,141,469
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

This could have been avoided had the agent read the fine print! WOW, just WOW!

Jan 25, 2021 09:32 AM
Rainmaker
511,064
Joseph Domino 480-390-6011
HomeSmart - Scottsdale, AZ
Real Estate Made Easy

It is not normal in AZ. There are dozens of brokerages that will train you and help you succeed without charging you. Of course, some charge a commission split but I think that is normal.

Jan 25, 2021 09:30 AM
Rainmaker
1,057,554
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

WHOA . . . I know 2 'big names' that have pricey 'universities' and 'training' but that's a lot of money for education the broker should be providing you as part of your split . . . there's a saying that salespeople are often the most gullible . . . that is no more true than in our profession where we buy the newest shiny thing . . . I'm sure that agent was expertly bamboozled into believing that the investment would skyrocket their income . . .

Jan 25, 2021 09:23 AM
Ambassador
3,590,566
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Ridiculous.  I personally trained all our agents and never charged them. It was a split fee arangment and training was part of their package.  Again...ridiculous.

Jan 25, 2021 10:05 AM
Rainmaker
914,098
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Not normal or common in this area.

Jan 25, 2021 09:17 AM
Rainmaker
7,870,816
Roy Kelley
Retired - Gaithersburg, MD

Grand theft.

Jan 25, 2021 11:00 AM
Rainmaker
5,773,239
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Richie,

Yikes, I would be hiring an attorney...A

Jan 25, 2021 10:01 AM
Ambassador
3,350,589
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Holy 💩 is my thought. 

Not normal or common as far as I know ... never heard of such outrageousness with fees ... cannot believe anyone would agree to that!

Jan 25, 2021 05:49 PM
Rainmaker
1,554,939
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

He was mugged and taken for $7,000...broker training is FREE.

Jan 25, 2021 11:10 AM
Ambassador
2,459,243
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

That's terrible, and no, it's not normal or common. 

In my first brokerage I asked the managing broker to help me price a very unusual property (I needed help with a CMA). I was told I could pay a referral fee to a top agent for that assistance. I said, "no thank you, I'll figure it out myself." What the hell are managing brokers supposed to be doing if not helping new agents learn the ropes? I knew how to do a CMA but this was a very unusual property.

There is a lot of stuff that goes on with new agents in various companies that simply is not right.

Jan 25, 2021 03:39 PM
Rainer
420,003
Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

 I would advise them to take that contract to small claims court and ask for refund

Jan 25, 2021 01:24 PM
Rainmaker
1,093,447
Diana Zaccaro Broker Associate
ZOOM Realty Group - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

I hope that is not the "New Normal"!...never heard of such a thing! That agent learned an expensive lesson and hopefully will read the entire ICA before signing in the future.

Jan 25, 2021 12:39 PM
Ambassador
2,073,399
Alan May
Jameson Sotheby's International Realty - Evanston, IL
Home is where the hearth is.

normal...?   common...?

Yeah, like Highway Robbery used to be normal and common.

Jan 25, 2021 11:00 AM
Ambassador
2,684,769
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 I am quite familiar with $2000 "desk fees" and so forth, but $7000 for training?  No, thanks.

Jan 25, 2021 04:27 PM
Rainmaker
902,428
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

I have seen worse... there was a large agency in CT, where (I am convinced) the owner used new agents as a Profit Center, meaning - they were charged all kinds of "technology and phone and desk and education fees" up front. All this with the perfect knowledge that the attrition rate of new agents is in the area of 50%, so they could never really recoup that!  Simply bordering on criminal!

Jan 25, 2021 02:54 PM
Ambassador
5,063,205
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I've not heard of this happening to anyone. That's some pretty pricey training!

Jan 25, 2021 01:47 PM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

All things bad in real estate origiante with the BROKER.
There is not bottom to their barrel.
What you discribe is not common in Florida. But I'll bet it's coming to a brokerage near you.
Now you did use the word 'Employing' agency which suggests a structure that is differnt than the indepenant contractor of which we are all familiar.
What is unfortuneate is you allow the pracice to go unhindered by not revealing the predator.

Jan 25, 2021 11:22 AM
Rainmaker
5,116,528
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Whaaaat? I've never heard of such a thing.

Jan 26, 2021 05:28 AM
Rainmaker
5,245,401
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Very sad to say the least. See you in court but may likely lose with a well crafted contract. Then again may challenge the quality of the training or the claims of its results. Anyone know a TV reporter?

Jan 26, 2021 04:55 AM
Rainmaker
1,202,572
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

What? That's absurd! I've never heard of such a thing

Jan 26, 2021 07:17 AM
Ambassador
6,424,817
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Wow, not something that I would expect to hold up in court.

Sounds kind of like the old Company Store policy of the early 1900's.

 

Jan 26, 2021 08:33 AM
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