New Agent Keys Utah

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Outline

Utah Real Estate Licensure Requirements & Process

Utah Cost Summary

Training & Education - Entering Key

Compensation

Key Overview

Additional Education and Information 

MLS Fees

 

Utah Real Estate Licensure Requirements & Process

To become a licensed Sales Agent an individual must:

1. Meet the statutory licensing qualifications of honesty, integrity, truthfulness, reputation, and competency. (Utah Code Annotated 61-2f)
   Note: According to Administrative Rule R162-2f-201, an applicant does not qualify for a real estate license if he or she has had any felony in the last five years (starting from the time of conviction/plea or completion of any jail/prison sentence) OR if the applicant has any misdemeanor involving fraud, misrepresentation, theft, or dishonesty within the last three years.
2. Be at least 18 years of age at the time of application.
3. Have at a minimum a High School diploma or its equivalent.
4. Take 120 hours  of approved education at a certified Real Estate Pre-License School as outlined in the Real Estate Pre-License Education Curriculum. This education must be completed no longer than one year before applying for a license.
5. Take and pass the Sales Agent exam. A license request must be made within 90 days of passing the exam.
6. Submit application to the Division. The checklist  will help you provide a complete application and must be included with the following documents: 
   All documents must be in PDF format before uploading them to the EGOV website. Need help converting your files to PDF? Please click here.

• Checklist 
• SALES PERSON APPLICATION – Original, completed, signed and dated document issued by the Pearson VUE testing center (Sales Person Application - Page 1).
• QUALIFYING QUESTIONNAIRE – Original, signed and dated responses to document issued at the Pearson VUE testing center, and all supporting documentation requested for any “Yes” answers (Sales Person Application - Page 2
• UTAH DIVISION OF REAL ESTATE – CONSENT TO BACKGROUND CHECK (4 pages) – Original, signed and dated document issued at the Pearson VUE testing center.
• PLEASE NOTE: Fingerprints are now required. Fingerprinting services are being performed at Pearson VUE (However ONLY FOR THOSE WHO HAVE MADE ADVANCE FINGERPRINTING APPOINTMENTS. Private fingerprinting service vendors can also be utilized to perform fingerprinting for those who did not have their fingerprints taken at Pearson VUE ((2) blue FD-258 FBI fingerprint cards).
• CERTIFICATION OF LEGAL PRESENCE – Original, completed, signed and dated document issued by the Pearson VUE testing center. (No license number is required for new sales agent applications)
• CANDIDATE EDUCATION CERTIFYING DOCUMENT – Original, signed and dated document issued by the real estate school, (this document is only valid for one year and must be submitted within 90 days of passing the exam), or valid education waiver issued by the Division of Real Estate.
• NON-REFUNDABLE FEE – $157.00 ($100 application fee, $12 recovery fund fee, $40 fingerprint processing fee, and $5 FBI RAPBACK enrollment fee)
  Note: Incomplete applications will be returned to the applicant.

Note: If the exam is taken at a location in Utah, fingerprints will be taken after the exam. If the test is taken outside of Utah, fingerprint cards can be obtained from the Division or a local police station.

Utah Cost Summary

https://realestateonlinelearning.com/the-cost-of-becoming-a-real-estate-agent-in-utah/

Pre-license education - $450-750 (Key Realty discount available for classes taken at the Institute of Real Estate Education (https://realestateonlinelearning.com/): Use code 1REFERRAL.

Utah Non-refundable Application Fee: $157 (includes $100 application fee, $12 recovery fund fee, $40 fingerprint processing fee, and $5 FBI RAPBACK enrollment fee)

Exam fee: $59 https://home.pearsonvue.com/

Board and MLS Start-Up Fees - Up to $1,650 (based on 2021 Utah fee schedule: https://ucaor.com/new-members/)

Key Realty New Agent Administrative Fee - $249

Business Cards, Signs and Lockboxes - $100-300

TOTAL ESTIMATED START UP COST:  $3,000

The Key Success Plan

      Mandatory

• New Agent Orientation (2-3 Hours)
• Business Planning (1-2 Hours )
• Fresh Start  (Four 3-Hour Classes: From Day 1 in real estate to your 1st Closing)
• Key Education Series (20 2 -Hour Classes:  Everything you need to know to become a successful real estate agent! )

Click here to find the Events Calendar in your region

 

Additional Education and Information Resources 

• Free Online Video Continuing Education
• Knowledge Base Training
• Key Design Center
• Keyworld 2.0

Fresh Start Classes

Part 1 - Everything you need to become effective for your clients in Real Estate.
Help you create the mindset of a business owner
Integrity Selling - In your product, your industry, your company and in yourself.
4 Business Models - including Social Sphere of Prospecting, Geographic Prospection and Lead Generation.
Dialogs -The Goal is the Appointment, Buyer & Seller appointment dialogs.
Specific scripts & dialogs for conversations
Set up systems to manage your business profitably
Prospect in a seller's market to find buyers & seller

Part 2- Everything you need to become effective for your clients in Real Estate.
Set up systems to manage your business profitably
Manage your database to close more deals
Prospect in a seller's market to find buyers & seller
Client Services Portfolio Presentation - What is the best way to find properties and financing - Free One Stop Shopping
Listing Presentation - Virtual Tours, Brochures & Signage, MLS, Websites, Comparative Market Analysis & flyers.

Part 3 - Utilizing the Key World Tools
Using www.keyworld.tv to become successful
The Key Manifesto
Using the Key knowledge base and what it can do for you
Key Design Center- Creating professional marketing
Dotloop Basics
Account Set-up
1st Loop Setup - Listing & Sales Folders with Templates
The listing Contract package

Part 4 - Successful Transactions Management

How to avoid pitfalls and lawsuits with today's complex transactions.
How to fill out Contracts & Negotiating Offers
How to fill out the Board of Realtors
Communication Expectations
Reviewing Different Contracts Addendums

 

Key Education Series Classes

1. Client Protection & Risk Reduction
2. Listing Presentations
3. Negotiating
4. Selling with Personality
5. Dealing With Difficult People
6. Time Investment & Management
7. Buying vs Renting
8. Call Conversion
9. Showing & Selling Houses
10. Property Evaluation
11. The 10 Keys
12. Hot Market Marketing
13. Prospecting & Expired’s 
14. FSBO’s
15. Geographic Farming
16. Objections 1 - Create breaking points in Presentation
17. Objections 2
18. Objections 3
19. Financing
20. Financing Alternatives

List of the Available Key CE Classes (Each Class is 2 hours of CE Credit)

10 Keys for Agents
Buying vs Renting
Dealing with Difficult People
FSBO
Geographic Prospecting
Hot Market Marketing
Investment/Investor Real Estate
Negotiating
Negotiating Certificate
Objections
Professional Communication
Property Evaluation
Prospecting
Purchaser's Seminar
Purchaser's Showing and Selling Homes
Real Estate Math
The Wealthy Realtor
Time Management
Why Do You Pay Taxes?

 

Compensation

• Annual Company Dollar Cap $4,800 

Three ways to pay: 

50/50:  Commissions are split 50%/50% with the agent and company until the $4,800 is paid. The agent will then received 100% of their commission until their next anniversary date.

OR

Key Monthly:  The agent pays $400 a month on the 1st of each month and receives 100% of their commissions.

OR

Key Yearly:  Agent makes a one-time payment of $4,800 and receives 100% of their commissions until their next anniversary date. 

Click here to use our commission savings calculator to compare the costs!

Annual Agent Renewal Fee (AAR) $249

The annual agent renewal fee is paid each year in February.

What's Included for a $4,800 Annual Cap?

Compensation

Education

Support

Award-Winning Brokers & Manager Coaching

BrokerSumo - Commission Tracking

Electronic Direct Deposits and Disbursement- Faster and Easier

Stats

21 Locations Covering Ohio, Michigan, Utah and Florida

Over 1,300+ Agents and Staff

11,491 Transactions in 2021

One of the Top 30 Independent Brokerages in the US
Top Producing Nationally Recognized Company

• Other Fees? Nope! 

At Key, we believe in providing agents with one of the best value packages in the industry without overloading them with extra hidden costs and fees. That's why we simply DO NOT charge them. 

No Monthly Fees
No Per-transaction E&O Fees
No Per-transaction Fees
No Compliance Fees
No Broker Review Fees
No Franchise Fees
No Administrative Fees

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Key Overview

• The 10 Keys   -   Who we are, what we teach, how we live
• Average Key Income - 70% higher than the national average
• Key agents make 41% more money from every closing
• 40 Management and Support Staff
• 21 Locations and Growing!
• 1,300+ agents and staff
• 11,000+  homes sold in 2021
• Billion-dollar company - $1,700,000,000.00 in Volume
• Over $47,000,000.00 in commission income
• Free Leads - 400 Transactions - $49,000,000.00 volume
• #30 Independent Brokerage in the United States (RealTrends Rankings)
• One of the fastest-growing companies in real estate
• The Key Guarantee - Our Promises in Writing
• Our Mission Statement
• Agent Testimonials - Our Agent's Stories 
  
• Key Support
• Key Realty Agent Policy Manual

 

MLS Fees

New agent fee is $200 and an annual fee of $480 or $42/month.