Frequently Asked Questions
Q: ARE THERE ANY Transaction OR DESK FEES?
A: No. The only financial arrangement between you and Summit is the 80/20 commission split until you reach the cap.
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- No Transaction Fees – $250
- No Desk Fees – $80
- No Realtor Dues – $700
- No Franchise Fees – $20
- No Technology Fees – $20
- We Even Cover Your E&O Insurance!
Q: WHAT costs WILL I have AS An AGENT?
A: The bare minimum expenses you will incur as a licensed agent:
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- License renewal fee to state ($146 every 2 years)
- Continuing education for your license renewal
- NWMLS Dues (paid quarterly $600 per year)
- Supra Key ($15 per month)
Q: WHAT IS YOUR ANNUAL CAP?
A: Once you reach $16,000 in commissions with us, you will keep 100% of further commission for the year. This equals roughly $3 million in sales at our 80/20 split. Here is an example of our commission disbursement form.
Q: Will I have to pay NAR fees?
A: No, as an agent with Summit, you will not be required to pay National Association of Realtors (NAR) fees. Summit is not affiliated with NAR, which means you’re exempt from the annual dues typically mandated by other brokerages.
Q: Do I have to pay for photography services?
A: Yes, we have preferred vendors for photography, which generally costs $100-$200 per listing.
Q: How long has Summit been in business?
A: We have been serving clients since 2001.
Q: Does Summit handle commercial transactions?
A: Yes, we offer options to join CBA for commercial dealings, with dues typically around $600 for six months.
Q: ARE in-person MEETINGS required?
A: No, our communication is primarily through email, YouTube, and our Facebook group.
Q: IS THERE A SALES QUOTAI HAVE TO MEET?
A: No, we do not impose sales quotas.
Q: WILL I GET A Summit-SPECIFIC email address?
A: Yes, a personalized email is part of your onboarding.
Q: Is there an office I can come to or bring clients to?
A: Yes, our Bellevue office is equipped with a conference table for client meetings.
Q: Is there an office transaction coordinator?
A: Our office manager oversees all transaction coordination.
Q: What is the owner/managing broker’s background?
A: Sean Reynolds started in the real estate industry in the mid-1980s with pulling sales data for a family-owned appraisal company. He earned his real estate license and appraisal license in 1992.
In 1994 he successfully obtained his managing broker’s license and has been managing a real estate brokerage ever since. In that same year, he bought out a founding partner of Reynolds & Kline Appraisal and became the owner.
Sean has received the two highest designations in the appraisal industry, the SRA Designation and the RRS Designation form the Appraisal Institute. Over the years through his companies, Sean has appraised and sold thousands of homes throughout Western Washington.