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Frequently Asked Questions

What are my commission options?

For real estate and residential loan transactions, choose one of the following plans:

  • Plan A: Pay a one time flat fee of $395 per closed transaction and a one time $99 risk management fee per closed transaction, which covers the E&O insurance. You keep all the remaining commission!
  • Plan B: Pay a monthly fee of $99, one time flat fee of $195 per closed transaction, and a one time risk management fee of $99 per closed transaction, which covers the E&O insurance. You keep all the remaining commission!

For all the above plans, there will be no commission splits, desk fees, franchise fees, ETC.

What will it cost to get started?

Simply submit all the necessary paperwork to our office, and we can have you licensed with our company within the hour.

How do the Transaction Coordinators or Loan Processors Work?

You are required to use one of our transaction coordinators on all your Real Estate files. The fee for this service is $395. Also you are required to use one of our loan processors for your loan transactions. The fee for this service is $695 per transaction.

When do I get paid?

You can get paid upon close of escrow. All we need is verification from our transaction coordinator or processor that your file is complete.

How about signs and business cards?

All Magna Agents must use our trademark name and logo on all promotion/marketing materials. We have agreements with business card and sign companies. They have our company templates in stock, and you order directly through them.

Can I negotiate sales commissions with my clients?

Yes, you determine the total commission on your transactions.

Do you provide office space or a conference room?

No. All of our virtual office Agents work from their home or personal offices.

Can I get paid directly from Escrow?

Yes, you will have that option as well.

Do I need a California Real Estate license to transact with Magna Capital Group, Inc?

Yes, you do need to have an active California Real Estate Agent license to transact with us for selling real estate in California.

Do I need a Nevada Real Estate license to transact with Magna Capital Group, Inc?

Yes, you do need to have an active Nevada Real Estate license to transact with us for selling real estate in Nevada.

Can I sell both Real Estate & Loans?

You can sell both Real Estate in California and/or Nevada if you have and active California and/or Nevada real estate Agent license. In addition, you can sell loans with us in California only, if you have an active California DRE license and have an active NMLS endorsement.

Do I need to be experienced?

Experience isn’t required, but if you are new to real estate it is suggested that you attend training classes or contract with a mentor on your 1st transaction.

What is the Commission Split?

The commission split is 100% to the Agent.

Do you have Errors and Omissions Insurance?

Yes, this is included in the risk management fee per closed file and covers the cost of legal advise, settlements, judgments, legal fees, claims, litigation and other risk management costs. Subject to our policy terms and condition.

Are there any minimum sales volume or quotas?

There is no minimum sales volume or quotas. Each Agent can set their own sale volume and quota goals. They can choose to do zero, one, or hundreds of transactions per year.

Do you have Transaction Coordinator and Loan Processing Services available?

We have both Transaction Coordinator as well as Loan Processing Services available.

Am I free to use any lender, title company or escrow company in my transactions?

Yes. You’re free to select the services that best suit your clients’ needs. We are approved with many wholesale lenders offering a variety of loan programs.

Can I sign up with additional Lenders?

Yes, please email; we will inquire a Broker’s package from the new lender.

Can I open a Branch Office?

Yes, you can request approval to open your own branch office.

Does Marketing and Advertising need to be approved?

We ask that you get all marketing and advertising approved by us to make sure you are protected.

Why Magna Capital Group, Inc Virtual Office Division?

The Virtual Office Division was created for Agents who want the highest commission split and a professional, streamlined transaction processing so they can maximize their profits and focus on quality service for their clients. Traditional Brokerages charge thousands more in commission splits and fees.

What’s different about Magna Capital Group, Inc Virtual Office Division?

Our Agents work from home, or private offices, part-time or full-time using Online Transaction Tools. There is no minimum sales volume or quotas and absolutely no desk fees, franchise fees or hidden fees of any kind. Without a costly office infrastructure, our Agents enjoy the highest commission payouts in the industry. Our Agents also enjoy the ability to do both Real Estate and Loan transactions.

How do I get Real Estate Signs and Business Cards?

You may use any vendor you like using our Magna Capital Group, Inc’s logo.

How often are Commissions paid?

Commissions are paid out as soon as we receive the transaction file and audited (usually same day / must be in compliance) and usually paid within 24 hours.

How are Commissions paid to Agents?

Commissions are paid via direct deposit or by check as preferred by the Agent.

Can I work from my home or private office?

Absolutely. You can work from your home, or private office part-time or full-time. Each Agent works under their own hours, schedules their own vacation time, and decides how much or how little they would like to work.

Do you provide desk or office space?

We do not provide desk or office space, which allows us to charge the minimum fee per transaction.

Can I get Broker Support When Needed?

Absolutely, we offer one-on-one real estate and loan support to every Magna Agent, on real life transaction challenges. Broker assistance is provided though our e-mail, by phone and fax.

There Are Many New 100% Commission Brokerages Lately, How Can I Select The Best One For Me?

Not all Brokerages are created equal. Anyone can get their Brokers license and create a website, but there is no short cut for experience and quality. When selecting a Brokerage, do your research. Check the Better Business Bureau, Google the company’s name to see if you can find additional information, and talk to the Broker. Make sure the company has Errors and Ommissions Insurance, and do a free online background check.

Join our Team
Magna Capital Group, Inc is actively seeking for self-motivated, driven loan officers to become a part of our successful and growing... Read More
About Us
The principal of the company has over 30 years of experience in the industry. Our mission is to treat our valued clients with honesty... Read More
Magna Capital Group, Inc., Real Estate, Los Angeles, CA
Accredited Real Estate Services, Magna has 30+ years of combined experience in the Real Estate & Financial Services business. Read More
Magna Capital Group, Inc is a full service real estate and financial services company. We provide specialized services to our clients... Read More
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