ERA Realty Network launches $1m startup grant

New real estate salespersons need to pay $100 in administrative and materials fees to join the network.

ERA Realty Network unveiled a $1m start-up grant to help real estate salespersons (RES) transit into the industry, following the completion of the RES examination by the Council of Estate Agencies in February, an announcement revealed.

Dubbed the New RES Start-Up Grant, the grant will aid in offsetting the joining fees for 2019 that will cost ERA a sum of $563.50 per agent, comprising of an admin fee for 2019 ($53.50), registration fee for 2019 ($230), compulsory work kit for 2019 ($180) and an additional $100 subsidy for its compulsory skills-based training for new RES called the Ultimate AccelERAtion Mastery that costs $200.

It will also reportedly offset the renewal fees for the following year which will cost ERA a sum of $463.50 per agent, comprising of an admin Fee of $53.50, a registration fee of $230 and compulsory work kit priced at $180.

“New RES looking to join ERA will only need to pay a token sum of $100 for the administrative and materials fee of the compulsory start-up programme instead of the total sum of $1,127,” ERA Realty Network said in a statement. “Given global economic uncertainty, this start-up grant comes in handy for the weak labour market that has been affected by the fast-paced technological change and companies undergoing re-organisations, mergers and acquisitions this year.”