Are there setup or activation fees?
Broker of record engagements start in the low four figures per state per month on a multi-year commitment. Month-to-month engagements are priced higher, and a one-time onboarding fee applies in both cases. The treatment of onboarding under each structure is set out in the written proposal. State filing fees, MLS dues, E&O insurance and required third-party expenses pass through at cost and are billed separately.
50 State Brokerage works with PropTech platforms, property managers, multifamily operators, SFR investors, and institutional owners. This answer library covers brokerage structure, oversight responsibilities, and licensing considerations.
More on Cost & Pricing
How much does a broker of record cost?
Broker of record engagements start in the low four figures per state per month on a multi-year commitment. Month-to-month engagements are priced higher, and a one-time onboarding fee applies in both cases. Broker of record engagements are priced per state based on state, scope and volume. Month-to-month, multi-year and per-transaction structures are available. State filing fees, MLS dues, E&O insurance and required third-party expenses pass through at cost and are billed separately. Specific figures and final terms are provided in a written proposal and services agreement.
How much does it cost to get your own broker license?
The national average all-in cost is $464 for application, exam, and pre-license education, ranging from $190 (Missouri) to $871 (Texas). This excludes the 2 to 4 years of prior licensed sales experience most states require before eligibility, plus $500 to $2,000 per year in E&O insurance, continuing education, MLS dues, and renewal fees.
Is broker of record cheaper than hiring a licensed employee?
Broker of record engagements start in the low four figures per state per month on a multi-year commitment. Month-to-month engagements are priced higher, and a one-time onboarding fee applies in both cases. Employing a licensed designated broker carries salary, benefits, licensing and operating costs. Broker of record service instead follows the published month-to-month, multi-year or per-transaction structure per state. Compare the full cost and responsibilities of both paths; final service terms are set in a written services agreement.
Do you require a long-term contract?
No single term applies to every engagement. Month-to-month and multi-year structures are available, and the appropriate structure depends on state, scope and volume. Broker of record engagements start in the low four figures per state per month on a multi-year commitment. Month-to-month engagements are priced higher, and a one-time onboarding fee applies in both cases. Specific figures and final terms are provided in a written proposal and services agreement.