Print Full New Agent Packet (2016) - Recruiting Packet

FACTS &
FORMS 2016
COMMISSION GUIDELINES
COMMISSION GUIDELINES
•
Up to $90,000
– 7% or minimum $2,500 per side
•
$90,001 - $200,000
– 7% or more
•
$200,001 or above
– 6% or more
Bonus and marketing fee earned on a transaction are all yours when your side
meets half the above guidelines. Also, bonus will be paid to selling associate if
commission is a minimum of 3% on sales price of $150,000 or less.
Commission agreements on unlisted properties (FSBO):
•
Commission of 4% or more – The in-house bonus will be paid on half of
commission.
•
Commission of less than 4% will be paid at co-op level.
Please talk to your manager prior to committing to commission reductions involving
the company portion of the commission.
FLAT FEE COMMISSION
The Flat Fee Commission for contracts written in 2016 will be $315.00.
11/30/2015
THE 80/85 COMMISSION PLAN
REECENICHOLS 80/85 PLAN
ReeceNichols’ 80/85 Plan provides you with the opportunity to best meet your
financial needs along with the cycles of your business. Based on your prior
earnings, you have the choice to choose where you want to the start your
anniversary year for joining the 80/85 Plan. Select from the options below and set
your sights on 80/85%!
11/30/2015
THE 80/85 COMMISSION PLAN
11/30/2015
THE 80/85 COMMISSION PLAN
Q: Do I have to sign up for the 80/85 Plan?
A: For current ReeceNichols sales associates - Absolutely not. The 80/85 Plan is
offered as an alternative to ReeceNichols’ level commission plan and the 95 Plan.
The 80/85 Plan is very competitive and for many sales associates it will be the
most financially attractive commission plan apart from the 95 Plan. New
ReeceNichols Sales Associates will automatically be enrolled in the 80/85 Plan,
unless they choose the 95 Plan.
Q: Can I switch between Plans?
A: Yes, sales associates may always elect on the start of their next anniversary
year to switch between the 80/85 Plan and the 95 Plan. Once a sales associate
elects to move to the 80/85 Plan, they may not move back to the level
commission plan but may always choose the 95 Plan in the future. Meeting with
your Manager will always be the best way to determine what plan is right for you
and your business.
Q: Can I choose any of the 80/85 Options?
A: Yes, sales associates may select from any of the options they qualify for each
year.
Q: Can a real estate team participate in ReeceNichols’ 80/85 Plan?
A: Yes, real estate teams may enroll in ReeceNichols’ 80/85 Plan. Depending on
the nature and type of the team, there are two different ways for teams elect
treatment under the 80/85 Plan. See the Teams on the 80/85 Plan marketing
handout for guidelines.
Q: When do my earnings reset each year?
A: Sales associates joining the 80/85 Plan will have their earnings reset on the 1st
day of the month following the anniversary date they elected to enroll in the
80/85 Plan. This gives you the flexibility to choose which business cycle best
meets your individual needs. The commission split paid to the sales associate
under the 80/85 Plan is always based on the closed date of the transaction.
Q: Can the jump points and earnings levels change?
A: The jump points and necessary earnings levels may adjust annually in small
increments like the ReeceNichols level plan based on the Consumer Price Index.
11/30/2015
80/85 PLAN REGISTRATION FORM - INDIVIDUALS
INDIVIDUAL SALES ASSOCIATE REGISTRATION
To:
Accounting
Date:
__________________________________
Agent:
__________________________________
Office:
__________________________________
The following elections are made by the Sales Associate in joining ReeceNichols
80/85 Plan (choose one):
______
55/50 Start Point – Commission percentage of 55% on the sale of all
ReeceNichols listings and 50% on all outside sales and listings. Upon
reaching $31,500 in earnings, Sales Associate has a commission percentage
of 80/85% on the sale of all ReeceNichols listings and 80% on all outside
sales and listings. There are no required prior year earnings for the 55/50
Start Point.
______
65/60 Start Point – Commission percentage of 65% on the sale of all
ReeceNichols listings and 60% on all outside sales and listings. Upon
reaching $56,500 in earnings, Sales Associate has a commission
percentage of 80/85% on the sale of all ReeceNichols listings and 80% on
all outside sales and listings. Sales Associate must have prior year earnings
of at least $56,500 to select the 65/60 Start Point.
______
75/70 Start Point – Commission percentage of 75% on the sale of all
ReeceNichols listings and 70% on all outside sales and listings. Upon
reaching $129,500 in earnings, Sales Associate has a commission
percentage of 80/85% on the sale of all ReeceNichols listings and 80% on
all outside sales and listings. Sales Associate must have prior year earnings
of at least $129,500 to select the 75/70 Start Point.
Annual Anniversary Date: _________________________________________________
(1st day of the next month following Sales Associate’s election to join the 80/85
Plan)
•
•
•
Sales Associate’s earnings will automatically reset each Anniversary Date.
The commission split paid to the Sales Associate under the 80/85 Plan is
based on the closed date of the transaction.
Once enrolled in the 80/85 Plan, Sales Associates may not revert back to
the Legacy commission level plans.
11/30/2015
80/85 PLAN REGISTRATION FORM - INDIVIDUALS
•
The jump points and necessary earnings levels may adjust annually in small
increments like the ReeceNichols level plan based on the Consumer Price
Index.
Agent Signature:
______________________________
Manager Signature:
______________________________
Accounting Signature:
______________________________
11/30/2015
80/85 PLAN REGISTRATION FORM - TEAMS
TEAM REGISTRATION
Branch Office:
___________________________________
Team Members:
____________________________________
____________________________________
____________________________________
____________________________________
The following elections are made by the Team joining the ReeceNichols 80/85 Plan
(choose one):
Marketing Team (Market as a real estate team with no combined finances)
______
______
______
55/50 Start Point – Each team member has a commission percentage of
55% on the sale of all ReeceNichols listings and 50% on all outside sales
and listings. Individual team members separately attain the 85/80
commission level once achieving $31,500 in individual earnings.
65/60 Start Point – Each team member has a commission percentage of
65% on the sale of all ReeceNichols listings and 60% on all outside sales
and listings. Individual team members separately attain the 85/80
commission level once achieving $56,500 in individual earnings.
75/70 Start Point – Each team member has a commission percentage of
75% on the sale of all ReeceNichols listings and 70% on all outside sales
and listings. Individual team members separately attain the 85/80
commission level once achieving $129,500 in individual earnings.
Marketing + Financial Team (Market as a real estate team and combined
finances)
______
55/50 Start Point – Team members have a commission percentage of 55%
on the sale of all ReeceNichols listings and 50% on all outside sales and
listings. The team attains the 85/80 commission level once the collective
earnings of the entire team meets the following formula: (# of Team
Members x $31,500 = ______________________ Earnings Jump Point).
______
65/60 Start Point – Team members have a commission percentage of 65%
on the sale of all ReeceNichols listings and 60% on all outside sales and
11/30/2015
80/85 PLAN REGISTRATION FORM - TEAMS
______
listings. The team attains the 85/80 commission level once the collective
earnings of the entire team meets the following formula: (# of Team
Members x $56,500 = _____________________ Earnings Jump Point).
75/70 Start Point – Team members have a commission percentage of 75%
on the sale of all ReeceNichols listings and 70% on all outside sales and
listings. The team attains the 85/80 commission level once the collective
earnings of the entire team meets the following formula: (# of Team
Members x $129,500 = _____________________ Earnings Jump Point).
Annual Anniversary Date:
____________________________________________________
(1st day of the next month following the Team’s election to join the 80/85 Plan)
•
•
•
•
The Team’s earnings will automatically reset each Anniversary Date.
The commission split paid to the Team and its members under the 80/85 Plan
is based on the closed date of the transaction.
Once enrolled in the 80/85 Plan, the Team and its members may not revert
back to the Legacy commission level plans.
The jump points and necessary earnings levels may adjust annually in small
increments based on the Consumer Price Index.
Agent Signature(s):
______________________________
______________________________
______________________________
______________________________
______________________________
Manager Signature:
______________________________
Accounting Signature: ______________________________
11/30/2015
THE 95 COMMISSION PLAN
REECENICHOLS 95 PLAN
ReeceNichols’ 95 Plan affords you the opportunity to earn 95% on all commission
payouts throughout the year. This allows sales associates to securely plan their
business around a consistent commission split and fixed monthly costs. The 95
Plan is a perfect fit for those disciplined sales associates seeking greater
responsibility over their business in exchange for typically higher annual overall
earnings.
11/30/2015
THE 95 COMMISSION PLAN
Q: When can I enroll for the 95 Plan?
A: Sales associates can elect to start on the 95 Plan on January 1st or July 1st.
Q: If I want office space, what is the cost?
A: Office space on the 95 Plan is calculated at $5 per square foot.
Q: How do I pay my 95 Plan fees?
A: 95 Plan fees are due at the first of month and will be automatically deducted
each month from the debit or credit card provided to ReeceNichols at the time of
enrollment. In the event a sales associate is more than 1 month behind on the
payment of 95 Plan fees, they will be moved to the 85 Plan and may enroll again
on the 95 Plan at the start of the next calendar year and upon payment of any
past due 95 Plan fees.
Q: If I elect to add an Administrative Assistant, can they sell or list real
estate?
A: Administrative Assistants do not list or sell, but may refer business to you.
Q: How is ReeceNichols 5% calculated?
A: ReeceNichols’ 5% is calculated at a 3% commission per side. If the selling
commission offered by a cooperating broker in the MLS is less than 3%,
ReeceNichols’ 5% is calculated off the offered selling commission.
Q: Can a real estate team participate in ReeceNichols’ 95 Plan?
A: Yes, real estate teams may enroll in ReeceNichols’ 95 Plan. Depending on the
nature and type of the team, there are different ways for teams elect treatment
under the 95 Plan. See the Teams on the 95 Plan marketing handout for
guidelines.
11/30/2015
95% PLAN REGISTRATION FORM
To:
Accounting
Date: __________
Re:
_____________________________ ________________________________
Agent Name
Office
Monthly Rate
Monthly Rate is due on the first business day of the month. Current Agent
Service Fee will be collected from sales upon closing.
Office Space – ($5.00) x ( _____ sq.ft)
=
$ _________
Primary Licensee
=
$
Administrative Asst. $276.00 x ______ (# of assistants)
=
$ _________
1st Selling Asst. $506.00
=
$ _________
Each Additional Selling Asst. $ 752.00 x _____ (# of assistants)
Total Monthly Fee
=
=
$ _________
$ _________
No transactions
Effective Date
1,075.00
_____________________________
Agent Signature _____________________________
Date ______________
Manager Signature_____________________________
Date ______________
Accounting Signature __________________________
Date ______________
Contracts written before enrolling on the 95% Plan will be paid at current level.
Team leaders must override on all transactions. The company portion of
commission is 5% of GCI with a minimum of 5% of a 3% side. Team is not
approved until all the above parties have signed the form.
11/30/2015
95% PLAN REGISTRATION FORM
Team Roster
Split
Team Leader
Paper work Assistant
First Buyers Agent
Buyers Agent
Buyers Agent
Buyers Agent
Buyers Agent
Buyers Agent
Buyers Agent
Buyers Agent
Buyers Agent
Buyers Agent
11/30/2015
LOYALTY PROGRAM
AGENT SERVICE LOYALTY PROGRAM
In recognition and appreciation for continued loyalty to ReeceNichols, we offer the
Agent Service Loyalty Program. This rewards our valued team members for their
commitment to their real estate careers and the Company.
20 YEAR PROGRAM
Legacy Commission Plan
Agents attaining 20 years of continuous service with ReeceNichols are recognized
with a lifetime commission percentage. The percentage is the highest earned level
from their 18th, 19th or 20th year of service. This percentage will never decrease but
may increase based on increased performance after the 20th year of service. Once
increased after the 20th year, that becomes the new lifetime commission percentage.
The 80/85 Commission Plan
For agents on the 80/85 Plan when attaining their 20th year of service, they will
automatically receive the highest earned Start Point achieved in their 18th, 19th or 20th
year of service for each anniversary year thereafter. If a higher Start Point is earned
following the 20th year of service, that Start Point will be the new lifetime Start Point
for each anniversary year thereafter.
UP TO 20 YEARS
For our agents on the Legacy Commission Plan which have not yet attained 20 years
of service, they can feel secure that their commission levels will never decrease more
than one-step per year if their production has an unexpected down year. However,
they will always enjoy the ability to raise multiple levels each year based on increased
yearly earnings.
As an added benefit, if an agent on the Legacy Commission Plan has a year which did
not meet their goals, they may keep their level provided that the commission level
was previously earned over the preceding two years.
*Earned Level is defined as actual earnings on current year’s schedule.
12/2/2015
2016 AGENT SERVICES FEE
Bundled services to keep you online and in business.
Instead of billing sales associates monthly for every service used, ReeceNichols
Realtors have an Agent Services Fee (ASF) which covers the systems, tools and
services needed in today’s fast paced real estate industry. The ASF is $198.00 and is
collected from every closed side. When you sell your own listing, only one ASF will
be collected.
Customized ReeceNichols Website
Agent.ReeceNichols.com
Full IDX
Full Mobile Integration
Lead Management Integration
Agent Branded App
Personal ReeceNichols Email
[email protected]
Active Sync
Today Studio
Customizable Agent Dashboard
Online Forms and eSignatures
Home Match
Reverse Prospecting
Listing Alert
Action Plans
e-Letters
Trendgraphix
Leadtrax Software
Coaching, Training, Education
Continuing Education (Free)
Leading RE Training
E & O Coverage
Dot Loop Premium
Centralized Showing Service
Technical Service Center
Weekdays 8 am - 5 pm
Help.ReeceNichols.com
Usage of all RN Offices
Agent Service Center
Iron Port Spam Filter
Common Area Computer
• Microsoft Office Suite
• Outlook
Marketing
Television, Radio, and Online Advertising
Online Recognition
Zillow Broker Partnership
Adwerx Partnership
Boomerang Partnership
Reminder Media Partnership
Real Satisfied Survey System
Xpressdocs
Open House Advertising
Facebook Ads During OHC
ReeceNichols Branded Cloud CMA
Multifunction Devices
Full Color Copies in all Offices
11/30/2015
EARNINGS POTENTIAL
EARNINGS POTENTIAL
ReeceNichols provides state of the art offices, management support and
marketing & technology to ensure your success. You & ReeceNichols share the
success and commission. Commissions are calculated based on the sales price of
the property and determined by the percentage of commission charged.
Example:*
Sales price of Home
Commission Rate
Gross Commission
50% to Listing Agency
50% to Selling Agency
Your Share after splitting 50/50
with your company
“In-House” selling Bonus
$200,000
x 7%
$14,000
$7,000
$7,000
$3,500
$3,850
A 95% Plan is an option for your consideration. For details, check with your
Branch Manager.
PLANNING YOUR INCOME
Home Sold
1 Home per month
2 Homes per month
3 Homes per month
4 Homes per month
Approx. Annual Income**
$42,000
$84,000
$126,000
$168,000
*The commission schedule at ReeceNichols is in your favor, starting with a 50/50 split and
jumping to an 80% split after $31,500. Your earnings will be considerably more due to “inhouse” transactions which are computed at a higher commission split. Your opportunity
for “in-house” transactions are greater due to the extensive ReeceNichols market share.
**These amounts will be higher because of the ReeceNichols Progressive Commission
Plan.
Note: Expenses are tax deductible and tax withholding is the sales associate’s
responsibility. Additional income may be generated from local and national referrals.
12/2/2015
GETTING A LICENSE IN KANSAS
GETTING A LICENSE
Kansas Salesperson’s License for Kansas Residents.
TO OBTAIN YOUR LICENSE:
1. 30-hour Pre-Exam & 30-hour Kansas Real Estate Practice Course ReeceNichols Training Center will address these requirements as your pre
license school.
2. Obtain Fingerprints – During the pretest course you will have the opportunity
to obtain fingerprints on a KREC fingerprint card, which are to be submitted to
the commission ($64). These cards can be submitted before license
application.
3. Pass Exam - Call Pearson VUE for appointment: 1.800.274.4971 or schedule
online www.pearsonvue.com. You may take the exam before or after the
practice course. Our school code is 0170.
4. Apply for License - Before you apply for your license, classes, fingerprints and
test must be completed. You have six months to apply after completion of the
KREP course and/or passing test.
5. 12 Continuing Education hours - Provided at the ReeceNichols Training Center.
Check the
Training Calendar for class schedule. Agents renew based on the first letter of
their last name. See Kansas Renewal. CE must be completed by the last day of
the month before your license expiration date.
TO OBTAIN YOUR DUAL LICENSE:
Both Kansas and Missouri will issue licenses to REALTORS who have first received a
license in their state of residence. The process for securing a license in your nonresident state requires applying for and receiving Certification of Good Standing
from your home state, passing the state portion of the exam for the applicable state,
completing the practice course (30 hours in KS, 24 hours in MO), submitting a license
application and paying a fee. Kansas and Missouri applicants must also submit a
fingerprint card.
Register for classes online at Training.ReeceNichols.com.
12/2/2015
GETTING A LICENSE IN MISSOURI
GETTING A LICENSE
Missouri Salesperson’s License for Missouri Residents.
TO OBTAIN YOUR LICENSE:
1. 48-hour Pre-Exam and 24-hour Missouri Real Estate Practice Course ReeceNichols Training Center PreExam and Practice Course will address this
requirement as your pre license school.
2. Obtain Fingerprints with 3M/Cogent - Enroll at www.machs.mo.gov or by
calling 1-877-862-2425. The fee is $44.80.
3. Pass Exam - Call AMP for appointment: 1-800-345-6559 or schedule online at
www.goAMP.com. You may take the exam before or after the practice course.
Our school code is 10800.
4. Apply for License - Before you apply for your license, classes, fingerprints and
test must be completed. You have six months to apply for your license after
taking the pre-test 48-hour course.
5. 12 Continuing Education hours - Provided at the ReeceNichols Training Center.
Check the Training Calendar for class schedule. Agents renew September 30th
of even-numbered years, Brokers renew June 30th of even-numbered years.
TO OBTAIN YOUR DUAL LICENSE:
Both Kansas and Missouri will issue licenses to REALTORS who have first received a
license in their state of residence. The process for securing a license in your nonresident state requires applying for and receiving Certification of Good Standing
from your home state, passing the state portion of the exam for the applicable state,
completing the practice course (30 hours in KS, 24 hours in MO), submitting a license
application and paying a fee. Kansas and Missouri applicants must also submit a
fingerprint card.
Register for classes online at Training.ReeceNichols.com.
12/2/2015
FOREFRONT
ForeFront provides you the insight into ReeceNichols, allowing you to use every tool,
resource, and person to your advantage. We are the market leader and we have over
1,900 agents that have perfected their business. We tap into those resources as much as
possible and will continue to offer them to you during ForeFront and every day after.
PHASE ONE
ReeceNichols Orientation and Digital Real Estate
Collective COI, family of services, corporate, more buyers for your sellers and more
sellers for your buyers, integration
Spend the day in the office, attend sales meeting, take a tour
Prospecting Protocol
Leveraging the data for consumer benefit, collective COI (Action Plan Manager),
exposure
Buyer Protocol
Listing Alert, Market Knowledge, mobile access, payments mobile
Seller Protocol
Collective COI, more buyers for sellers and more sellers for buyers, exposure,
and mobile
PHASE TWO
Focus on Opens, Expireds, FSBO, and COI
Set up your COI, visit with your HomeServices Lending loan officer, attend
additional classes, view webinars, make phone calls, attend sales meeting, create
flyers, host an open house, practice dialogue, much much more.
PHASE THREE
Continue building your COI, attend on-going training, activate your Annual
Prospecting Action Plan and ask lots of questions. Remember to view the Training
Calendar often to see what classes are available.
2016 ForeFront registration and scheduling details are online on the Training Calendar. All
sessions are at the Granada Conference Center; the week class is held each month is listed
below.
January 25
June 22
February 17
July 13
March 23
August 24
April 20
May 18
September 28 December 7
12/2/2015
2016 TRAINING SCHEDULE
JANUARY
S
M
FEBRUARY
T W T
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S
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MARCH
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21 22 23 24 25 26 27
20 21 22 23 24 25 26
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19 20 21 22 23
28 29
27 28 29 30 31
24 25 26 27 28 29 30
24 25 26 27 28 29 30
31
MAY
JUNE
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JULY
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AUGUST
T W T
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22 23 24 25 26 27 28
19 20 21 22 23 24 25
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29 30 31
26 27 28 29 30
24 25 26 27 28 29 30
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28 29 30 31
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SEPTEMBER
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T W T
OCTOBER
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T W T
NOVEMBER
F
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1
DECEMBER
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27 28 29 30
25 26 27 28 29 30 31
25 26 27 28 29 30
23 24 25 26 27 28 29
30 31
ReeceNichols bundles practice
courses for both Kansas and Missouri
at no additional cost, to streamline
your process and save you money!
Sign up for the state where you live.
TIME
DESCRIPTION
8am-5pm
Pre-Test (KS & MO)
8am-2pm
Pre-Test (KS Law)
8am-5pm
Pre-Test (MO only)
8am-5pm
Pre-Test (MO Law)
8am-5pm
KREP & MREP (Days 1-4)
8am-2pm
KREP & MREP (Day 4)
*8:30am-4:45pm
ForeFront
LOCATION
All sessions are held in
the Granada Training
Room at Reece & Nichols
11601 Granada
Leawood, KS 66211
*Times may vary. See training.reecenichols.com
for more info.
Last Updated 1.16
MENTOR AGREEMENT
MENTOR/NEW ASSOCIATE AGREEMENT
Mentor:
Sales Associate:
MENTOR
MENTOR QUALIFICATIONS
Mentors are associates with a level of experience and expertise and have the
recommendation of your broker.
Mentors must be supportive of ReeceNichols programs, procedures and business
affiliations.
Mentors must understand the importance of attending sales meetings, in-office
training/events and attending Company educational opportunities.
Have a working knowledge of MLS, contracts and the Studio programs including
action plans, MNR, Buyer’s Tour and CMA.
Hold a Broker type license or an advanced designation such as CRS.
MENTOR COMPENSATION
Mentor receives $500 from the company for each of the first two closings of the
new Associate in the first 12 months. A new associate that is on a TEAM should
have the TEAM sign this agreement and understand, that the $500 will come from
the first two closings of the TEAMS commission, not the company dollar.
The Mentor is compensated by the office unless the agent leaves the office or
goes on a team, then the agent or new team will be responsible for the $500 fee.
MENTOR’S RESPONSIBILITIES
The mentor will advise, critique and volunteer feedback on a weekly basis to the
new Associate in all areas of the new Associate’s responsibilities.
Will allow or make arrangements for the Associate to ‘Shadow’ them or an
experienced agent to an open house, listing appointment and buyer’s
appointment within the first 60 days of the mentor program. Review the dialog
for client’s with the ‘shadow buddy’.
Review weekly activities and hold accountability sessions on COI list and action
plans.
12/2/2015
MENTOR AGREEMENT
NEW ASSOCIATE
NEW ASSOCIATE COMMITMENT
The following is my commitment for my success:
• I will take pride in our office and company by upholding ReeceNichols’ Vision:
ReeceNichols goes above and beyond to deliver an experience that is
rewarding for employees, agents and consumers. We understand that every
individual interaction matters throughout the entire home and lifestyle journey.
As a Partner for Life, we are never finished. We honor the significance of the
home by developing branded solutions that support our agents and
consumers as they move through that journey.
• Work diligently to serve and add value to customers and clients in a
professional business manner.
• Maintain the standard of the REALTOR® Code of Ethics.
• Balance career and personal life.
• Maintain a positive attitude about all listings, agents, personnel and business
issues.
• Dress professionally at all times. I represent myself, my family, my office and
company.
NEW ASSOCIATE’S RESPONSIBILITY
TASK
ForeFront Training Program
MLS Orientation
Matrix Training Class
ReeceNichols Dotloop Training
Meet with Title Representative
Meet with Mortgage Representative
Attend Sales Meeting & Tour
Hold Open House regularly
Complete a pre-listing packet
Complete a buyer’s tour
Complete a CMA
Complete a listing presentation L-I-S-T-I-N-G
Attend a Buyer’s closing
Meet weekly with Mentor
Other tasks assigned by Mentor
DATE COMPLETED
12/2/2015
MENTOR AGREEMENT
The above are guidelines and assistance from your mentor will vary based on the
help you need. Please be considerate of your mentor’s time and other
responsibilities. Your mentor cannot be available 24/7 but can be an invaluable
source of information and guidance. You can always ask your manager and office
staff if your mentor is not available.
Mentor:
Date:
New Associate:
Date:
Team Member:
Date:
Manager:
Date:
12/2/2015