Saturday, May 02, 2009
There are several ways and places you can order your cards ... You can order them with a picture or without ...
You can go to www.cfragent.com , click on the INFORMATION CENTER TAB and under VENDORS you will a live link that will allow you to order your cards on line and get them produce in the least amount of time ...
You also can go to www.ClientsFirstRealty.com , click on the RESOURCE TAB and under # 100E you will also find the same link that will allow you to place your order ...
In you have any problems navigating through the ordering process you can always call the office at 602-283-5378 and we will be glad to assist you ...
Here is a direct link to the ordering site ... http://tinyurl.com/czmf4g ...
These new cards will match the new Listing and Open House signs and will increase the branding potential ... as always, the company does not require you to use the corporate approved business cards or signs but with hundreds of agents and multiple offices the branding will increasingly become important ... we continue to build a organization that our clients, agents, brokers and staff can be proud of now and in the future ...
Friday, March 27, 2009
Some Changes Can Be Good
Reviewing the current economic conditions, the universal underwriters for E&O / Risk Reduction policies have discovered a trend in claim settlements that needs to be addressed to prevent the negative impacts on real estate agents and real estate companies that could arise.
E&O and/or Risk Reduction policies have deductibles that range normally from $2,500.00 to $10,000.00. Clients First Realty, LLC for the past three years have maintained there agents E&O / Risk Reduction deductibles at $2,500.00 per incident.
According to Clients First Realty, LLC’s Independent Contractor Agreements and the company’s Policy and Procedure Manual, page 21, the following is and has been the company’s position regarding E&O / Risk Reduction.
Clients First Realty, LLC carries comprehensive Errors and Omissions insurance coverage. This coverage provides varying degrees of protection against claims for professional services. Agents agree to defend, indemnify and hold harmless Clients First Realty, LLC, its owners, and Brokers, against all claims that may arise from an agent practicing real estate. In the event an agent is served with a lawsuit, threat of a lawsuit or a complaint before the Department of Real Estate or Professional Standards, the agent shall notify the Broker immediately. All deductibles and judgments not paid by the E & O carrier shall be the sole responsibility of the agent. The deductible is due and payable by the agent at the time a claim is received. If two or more Company agents were involved in the transaction (not necessarily named in the lawsuit), the deductible is to be divided proportionately between the agents.
Agents acknowledge that there is NO E & O insurance coverage for certain types of transactions including, but not limited to, Business Opportunities, Property Management, Dual Agency (Land Transactions) and Auctions. Terms and conditions of the coverage are subject to change.
A “Risk Reduction Fee” is due and payable by the agent on each transaction SIDE, even if there is no commission involved. In the event there is no commission paid at close of escrow, the agent will be responsible to pay the risk reduction fee to Clients First Realty, LLC. Should the agent fail to pay the fee, their account with Clients First Realty, LLC will be charged the appropriate fees.
If the Company is notified that there may be pending litigation or arbitration regarding a transaction, Clients First Realty, LLC has the right to hold all of the commissions due the agent until such time as the litigation or arbitration is settled or dismissed. Each agent further understands that the agent is liable for all expenses and any award assessed against Clients First Realty, LLC or its owners or broker due to the agent’s actions.
Where agents file suits for commissions, it is not uncommon for a counter suit to be filed against the Company and the agent involved. The Agent agrees to defend, indemnify, and hold harmless Clients First Realty, LLC, its owners and Broker, from any costs or liabilities precipitated by the filing of the commission claim. The company reserves the right to demand a $5000.00 deposit prior to allowing a commission suit to be filed.
After studying the national statistics and interviewing over half of the producing agents of Clients First Realty, LLC it was discovered that paying any type of large deductible caused by a legal claim or lawsuit would currently be very hard and in some cases impossible.
We can handle this problem in two ways, pro-actively or re-actively. Re-actively we do nothing, hoping nothing happens or pro-actively, we create a plan where the agents and the company will not be crippled financially if the event does transpire.
Effective 4-10-2009, the following collective effort is being implemented to benefit both the active writing agents and the company regarding possible legal expenses that may arise from an agent practicing real estate.
In accordance with your Independent Contractor Agreement a 5 day notice in writing via e-mail is being given regarding a minor change in all existing pay plans. The maximum expense created by this change for any one agent will be $200.00 per year.
If you are an agent that has your license with Clients First Realty, LLC and you have NO closed transactions during the calendar year then you WILL NOT be charged the $200.00.
Agents that have one or more closed transactions during the calendar year will have a single annual charge of $200.00 for the year the transaction(s) closed. The contributing fee will be charged against the first available closed transaction of the calendar year being addressed. These funds will go to a legal affairs and E&O / Risk Reduction deductible account.
In addition, the Company will contribute annually $2,500.00 to the legal fund plus corporate has instructed accounting that any agent fine revenue will be applied to the legal fund instead of being booked as miscellaneous income for the Company.
The benefits created for the agents with closed transaction(s) in a given year are the elimination of the E&O / Risk Reduction deductible for that calendar year and to increase the Company’s ability to protect the agents in legal matters that arise from conducting real estate activities and transactions.
As in the past and continuing in the future, Clients First Realty, LLC will make every effort possible to protect it most valuable assets: It’s AGENTS. The Company’s philosophy and financial structure is designed so the agents receive 90%+ of the annual gross revenue generated by the Company. The Company does not make changes without careful consideration. The above change will benefit and strengthen the entire organization and all its members.
Sincerely Wishing You a Great 2009,
William M. Slaughter, P.C.
President / CEO / Designated Broker
Clients First Realty, LLC … 03/27/2009 Official Transmission Date
Saturday, January 17, 2009
Clients First Realty, LLC created approximately 1.1 million dollars in gross income in 2008 ... the 'Company' paid out 91% of this to their most important assets, "THEIR AGENTS" ...
99.3% of all agent owed commissions were paid out to the "AGENTS" in less than 48 hours from time of recordation ... it could be faster but some 'Title Companies' don't see sending the checks out as an urgent item ...
CFR makes an in depth effort to put the commission in your hands as quickly as possible ... we insist that the paperwork is complete but our corporate transaction tracking system allows the agents and the company, working together, to stay on top of the paper flow, thus allowing completion to be accomplished in a timely and satisfactory manner ...
Our virtual office model as well as www.CFRAGENT.com ... the "Agents Virtual Office" online allows the seamless flow of your transactions ... this also helps reduce corporate overhead which enables the company to pass on a higher percentage of the commission to our agents ...
According to the local association rosters, most of our agents have paid their association dues ... If you have not renewed with your local association, please do so before 5:oo PM, January 23, 2009 ... If you don't make this deadline your local association will suspend your REALTOR status as well as access to the MLS ...
Your Independent Contractors Agreement and the Company's Policy and Procedure Manual as outlined on page 31 requires your membership stay current with local, state and national association ...
things to remember
Local, State and National associations
Clients First Realty, LLC is proud to be a member of the REALTOR Community. Each agent, at their sole expense, is required to join a local real estate board under the guidelines of the Board of Choice.
As a member of the above noted associations, agent agrees to maintain membership in good standing at all times. All are encouraged to become an active member and attend the organization's Orientation and/or ethics classes and provide proof of attendance to the Broker. By doing so, the agent shall adhere to the REALTOR Code of Ethics. Any agent whose membership is terminated at a board, either the local, state, or national REALTOR organization, will automatically be terminated from this Company.
Monday, January 12, 2009
CFR had a 190% net increase in AGENTS in 2008 ... 'THE COMPANY' had a 321% increase in closed transactions in 2008 vs 2007 ...
The average priced property that sold in 2007 was 243K ... in 2008 the average dropped to 181K ... A lot of our agents realized the tremendous pricing opportunities that was available to their clients, both first time buyers and investors ...
We started the year off with positive sales plus we've signed on several new agents ... The life blood of CFR is new agents ... if everyone could recruit just one agent, we will double our size again ...
The company will have a recruiting drive from January 15th to February 15th ... EVERY AGENT YOU SEND US DURING THIS THIRTY DAY RECRUITING DRIVE WILL BE WORTH $100 TO YOU ... Be sure they tell us you sent them, so we know who to pay ...
The economy is an issue, but hard work, persistence and consistency will help pull you and your love ones through these trying times ... Continue to apply your talents and ask everyone you talk to if they know anyone interested in buying or selling a house ... there are deals being made daily ... just remember to keep asking for the business ...
Sarita Ortega is our new lady in 'Admin' ... she is new to the real estate business but is quickly learning our system and the real estate vocabulary ... please be patient with her for the next couple of weeks ... we are very fortunate to have a individual such as Sarita join our organization ... she has a 'Great Family' too ...
We made tremendous progress throughout 2008 when over 50 real estate companies closed their doors, filed bankrutpcy or where bought out rather than using the 1st two options ... thanks to our Agents and their hardwork we continue to grow ... your great attitudes are something that I am very proud of and know that the next 4 years will show a positive turn around for all of us.
Best Wishes and Continued Success in 2009 ... WMS/DB Clients First Realty, LLC