Richie Alan  Naggar, agent & author  (people first...then business Ran Right Realty )

Spam prevention
Rainer
117,272
Ken Jones
SellerNet - Toms River, NJ
Exclusive Seller's Agent

Richie Alan Naggar Hell, that's robbery.

I would have trained that agent for virtually nothing, just like I've trained so many others who went on to productive real estate careers.

Goes to show that new real estate agents are victims in waiting.

Very sad. I hate to hear this type of thing.

Jan 25, 2021 09:29 AM
Rainmaker
598,542
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

It just proves that agents never read contracts...

 

Eve

Jan 25, 2021 09:06 AM
Rainmaker
1,605,958
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

I never heard a Brokerage charging such a fee, as an agent, why would anyone do that?

Jan 25, 2021 09:05 AM
Rainmaker
505,398
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

I have never heard of such a practice.

Jan 25, 2021 09:16 AM
Ambassador
3,986,564
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

OUCH! That's pretty pricey! 

Thankfully RE/MAX doesn't charge a dime for training. Training benefits the company so, you'd THINK this would be part of what the brokerage does for their agents. 

Glad she got out of there, Richie!

Jan 25, 2021 09:39 AM
Rainmaker
1,677,385
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

Holy moley! Have heard of some fees but not like this. Indentured servitude comes to mind here. Even after leaving he is paying? They must have some sort of lien on him. Poor guy.

Jan 25, 2021 09:33 AM
Ambassador
2,473,107
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

This could have been avoided had the agent read the fine print! WOW, just WOW!

Jan 25, 2021 09:32 AM
Rainmaker
332,780
Joseph Domino 480-390-6011
HomeSmart - Scottsdale, AZ
Real Estate Made Easy

It is not normal in AZ. There are dozens of brokerages that will train you and help you succeed without charging you. Of course, some charge a commission split but I think that is normal.

Jan 25, 2021 09:30 AM
Rainmaker
850,033
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

WHOA . . . I know 2 'big names' that have pricey 'universities' and 'training' but that's a lot of money for education the broker should be providing you as part of your split . . . there's a saying that salespeople are often the most gullible . . . that is no more true than in our profession where we buy the newest shiny thing . . . I'm sure that agent was expertly bamboozled into believing that the investment would skyrocket their income . . .

Jan 25, 2021 09:23 AM
Ambassador
3,185,133
Anna Banana Kruchten CRS CRB, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Ridiculous.  I personally trained all our agents and never charged them. It was a split fee arangment and training was part of their package.  Again...ridiculous.

Jan 25, 2021 10:05 AM
Rainmaker
818,273
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Not normal or common in this area.

Jan 25, 2021 09:17 AM
Rainmaker
6,218,762
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Grand theft.

Jan 25, 2021 11:00 AM
Rainmaker
5,225,885
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Richie,

Yikes, I would be hiring an attorney...A

Jan 25, 2021 10:01 AM
Ambassador
2,968,500
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Holy 💩 is my thought. 

Not normal or common as far as I know ... never heard of such outrageousness with fees ... cannot believe anyone would agree to that!

Jan 25, 2021 05:49 PM
Rainmaker
1,133,516
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

He was mugged and taken for $7,000...broker training is FREE.

Jan 25, 2021 11:10 AM
Rainmaker
1,725,644
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

That's terrible, and no, it's not normal or common. 

In my first brokerage I asked the managing broker to help me price a very unusual property (I needed help with a CMA). I was told I could pay a referral fee to a top agent for that assistance. I said, "no thank you, I'll figure it out myself." What the hell are managing brokers supposed to be doing if not helping new agents learn the ropes? I knew how to do a CMA but this was a very unusual property.

There is a lot of stuff that goes on with new agents in various companies that simply is not right.

Jan 25, 2021 03:39 PM
Rainer
296,161
Caroline Gerardo
Sun West Mortgage Corporation - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

 I would advise them to take that contract to small claims court and ask for refund

Jan 25, 2021 01:24 PM
Rainmaker
924,918
Diana Zaccaro
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

I hope that is not the "New Normal"!...never heard of such a thing! That agent learned an expensive lesson and hopefully will read the entire ICA before signing in the future.

Jan 25, 2021 12:39 PM
Ambassador
1,788,461
Alan May
Jameson Sotheby's International Realty - Evanston, IL
A moving experience!

normal...?   common...?

Yeah, like Highway Robbery used to be normal and common.

Jan 25, 2021 11:00 AM
Ambassador
2,528,831
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 I am quite familiar with $2000 "desk fees" and so forth, but $7000 for training?  No, thanks.

Jan 25, 2021 04:27 PM
Rainmaker
797,332
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

I have seen worse... there was a large agency in CT, where (I am convinced) the owner used new agents as a Profit Center, meaning - they were charged all kinds of "technology and phone and desk and education fees" up front. All this with the perfect knowledge that the attrition rate of new agents is in the area of 50%, so they could never really recoup that!  Simply bordering on criminal!

Jan 25, 2021 02:54 PM
Ambassador
4,426,292
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I've not heard of this happening to anyone. That's some pretty pricey training!

Jan 25, 2021 01:47 PM
Rainmaker
855,020
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

All things bad in real estate origiante with the BROKER.
There is not bottom to their barrel.
What you discribe is not common in Florida. But I'll bet it's coming to a brokerage near you.
Now you did use the word 'Employing' agency which suggests a structure that is differnt than the indepenant contractor of which we are all familiar.
What is unfortuneate is you allow the pracice to go unhindered by not revealing the predator.

Jan 25, 2021 11:22 AM
Rainmaker
3,772,645
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Whaaaat? I've never heard of such a thing.

Jan 26, 2021 05:28 AM
Rainmaker
3,895,781
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Very sad to say the least. See you in court but may likely lose with a well crafted contract. Then again may challenge the quality of the training or the claims of its results. Anyone know a TV reporter?

Jan 26, 2021 04:55 AM
Rainmaker
949,064
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

What? That's absurd! I've never heard of such a thing

Jan 26, 2021 07:17 AM
Ambassador
5,083,957
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Wow, not something that I would expect to hold up in court.

Sounds kind of like the old Company Store policy of the early 1900's.

 

Jan 26, 2021 08:33 AM