New Agent Keys

Entering The Real Estate Profession


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Outline

Ohio Real Estate Licensure Requirements & Process

Ohio Cost Summary

Michigan Real Estate Licensure Requirements & Process

Michigan Cost Summary 

Training & Education - Entering Key

Compensation

Key Overview

Additional Education and Information 

 

Ohio Real Estate Licensure Requirements & Process

Requirements for real estate licensure:  

1. Be honest, truthful, and of good reputation.
2. Be at least 18 years old.
3. Be sponsored by an Ohio Broker.
4. Not have been convicted of a felony or a crime of moral turpitude. Not have violated any civil
rights laws regarding real estate within the past two years as determined by a court of law or
violated any rules of the Ohio Division of Real Estate. In some circumstances, it is possible to
have a conviction or violation disregarded, which would allow you to sit for the exam. The division may only make a determination with respect to a conviction or violation if you file an application. For additional information on this process, contact the Division directly or review the additional information found on the Division’s website.  Pre-determination form 
5. Have a high school diploma or its equivalent as recognized by the Ohio Department of Education
if you were born after 1950.
6. Complete the education requirements outlined below.

Classes MUST be completed prior to the Key Realty Broker signing the licensing application. 

Step 1:  Enroll in Real Estate Classes.

Key Realty has partnered with Hondros College to offer new students the Key Realty Set for Success Package. Visit Hondros Scholarship Program to take advantage of this discount!  (Password:  keyrealty)

Four Core Real Estate Classes Required (120 Hours):
1. Principles and Practices (40 Hours)

2. Real Estate Appraisal (20 Hours)

3. Real Estate Law (40 Hours)

4. Real Estate Finance (20 Hours)

Step 2:  Complete Your Classes and Study.

We strongly recommend you utilize the Real Estate Sales Review Crammer provided by Hondros as well as the Compucram Exam Prep included with your Key Realty Set for Success Package.

Step 3:  Choose a Broker to Sponsor You and Complete the License Examination Application.

In Ohio, you must choose a licensed real estate broker to sponsor your license examination application. Once you have completed the application and have had a broker sponsor you: 

Classes MUST be completed prior to the Key Realty Broker signing the licensing application. 

Exam Application Instructions

1.) Completed License Examination Application (Click Here to view the .pdf application)

2.) Check for $81 payable to the Ohio Division of Real Estate

3.) Include a copy of your Course Transcripts/Certificates

4.) Send to the Ohio Division of Real Estate (2 Options):

via Mail or Walk-In
6606 Tussing Road

P.O Box 4008

Reynoldsburg, OH 43068

OR

1.) Apply online at the Ohio Division of Real Estate’s licensing center at https://elicense3.com.ohio.gov  and register for a new account.

**New Applicants for Salesperson instructions located here

Background Check and Fingerprinting

 Within 10 days after submitting your license examination application, you must submit for a background check and fingerprinting by a WebCheck Approved location - Search Here
(Have you ever been convicted of, plead guilty to or been granted intervention in lieu of conviction for any unlawful conduct excluding minor traffic violations?) 

Step 4:  Register to Take the Exam (2 Options)

1.) When your name appears as "Pending Exam", register with PSI for the exam.

(Check Ohio Licensing Center to find license status, "pending" status, you can take the test)

2.) Visit http://www.psiexams.com/ohre to register for the exam. Cost is $58

When registering for the exam, you can choose to take the exam at a testing location near you or online in your own home. If you are taking the test online, you must run a system check by clicking here

View System Requirements Here

Read the Ohio Division of Real Estate and Professional Licensing Candidate Information Bulletin

We recommend you register quickly for your exam as they are backed up, you have 6 months to take the test. PSI will also send you an email when you may schedule your exam. 

Step 5:  You have passed the Exam!

Re-check Ohio Licensing Center to find license status, "active" status, Congrats, you've passed your exam! 

Ohio Cost Summary

Hondros College Key Realty Set For Success Package - $1,359

Exam Application - $81

Background Checks - $70

PSI Exam Fee - $58

Board and MLS Start-Up Fees - Up to $2,000

Key Realty Administrative Fee - $249

Business Cards, Signs and Lockboxes - $100-300

TOTAL ESTIMATED START UP COST:  $4,100

CLICK HERE to see all regions estimated board and MLS dues schedule. 

 

Michigan Real Estate Licensure Requirements

Requirements for real estate licensure:

  1. Complete 40 hours of approved prelicensure education courses which include at
    least 4 hours of civil rights law and equal opportunity in housing. A list of approved
    sponsors may be found at www.michigan.gov/realestate.
  2. Submit an application at www.michigan.gov/realestate. Help Guide Click Here
    Key Realty Michigan Broker #:  6​5​0​5​3​6​6​1​3​4
    Applicants must be at least 18 years of age and of good moral character.
    The fee due at the time of application is $88.
  3. Pass the required examination administered by PSI Services, LLC (PSI). The cost
    of the examination is $79.

Step 1:  Enroll in Real Estate Classes.

Key Realty has partnered with Hondros College to offer new students the Key Realty Set for Success Package. Visit Hondros Scholarship Program to take advantage of this discount!  

Michigan Real Estate Course and Exam Prep (40 Hours)

Step 2: Complete Your Classes and Study

We strongly recommend you utilize the Real Estate Sales Exam Prep - National + Michigan included with your Hondros course purchase. 

Step 3:  Apply for your Michigan Real Estate Salesperson License

In Michigan, you must choose a licensed real estate broker to sponsor your license examination application. Once you have completed the application and have had a broker sponsor you: 

Applying for your Michigan License
1.) Completed License Examination Application
2.) Pay the $88 application fee

Step 4:  Register to Take the Exam

1.) When your license has been issued, register with PSI for the exam.
PSI Testing Center  - Cost is $79

Step 5:  Pass the Exam!

1.) Congrats, you've passed your exam! 

Once your name appears on the state website as "active" you are now a licensed real estate agent!

Michigan Cost Summary

Hondros College Key Realty Set For Success Package - $236

Exam Application - $88

PSI Exam Fee - $79

Board and MLS Start-Up Fees - Up to $1,500

Key Realty Administrative Fee - $249

Business Cards, Signs and Lockboxes - $100-300

TOTAL ESTIMATED START UP COST:  $2,500

CLICK HERE to see all regions estimated board and MLS dues schedule. 

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 

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?

Key Goes to NAR! - Learn More

 

Compensation

• Annual Company Dollar Cap $4,500

Three ways to pay: 

50/50:  Commissions are split 50%/50% with the agent and company until the $4,500 is paid. The agent will then received 100% of their commission until their next anniversary date.

OR

Key Monthly:  The agent pays $375 a month on the 1st of each month and receives 100% of their commissions.

OR

Key Yearly:  Agent makes a one-time payment of $4,500 and receives 100% of their commissions until their next anniversary date. 

The agents "Anniversary Date" is the date the agent joins Key Realty. We use this anniversary date to determine the reset day of the agent's commission cap program. If you are on the 50/50 plan, your commission cap balance does NOT carry over. 

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 $4,500 Annual Cap?

Compensation

      Errors and Omissions Insurance Included 
      Lead Program powered by Opcity, RocketLoans & Sirva
      NO MONTHLY FEES
     100% Commission Model

Education

One on One Mentoring, Coaching & Business Planning
Free Online CE & Training Platform
Top Rated Social Media Training
100+ Education Classes, 334 Hours Yearly

Support

Award-Winning Brokers & Manager Coaching

BrokerSumo - Commission Tracking

Electronic Direct Deposits and Disbursement- Faster and Easier

Technology

Dotloop Premium E-signature Paperwork Platform

World-class CRM 

Key Design Center

Personal Website with IDX 

Agent Resource Center

The Knowledge Base - Google for Real Estate

Move Easy -  24/7 Client Concierge Service

Broker Sumo Pay Systems

Fun

After Hours Events

Cedar Point Day

Company Party/Convention

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

         +   Plus So Much More!

• 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

[DOWNLOAD] 26 Questions to ask a real estate company! 

EZ-Exit Agreement:  If at any time you decide to leave Key Realty, you will leave with your leads, your listings, and your money. 


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 - $2,364,685,269.00 Volume
  • Over $66,000,000.00 in commission income
  • Free Leads - 400 Transactions - $49,000,000.00 volume
  • Top 25 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

Ready to get started? Review the Letter of Intent today! 

 

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