About My Broker Donates - Frequently Asked Questions

Testimonials

"We are supporters of two great organizations that really make a difference in our community. Education Outside harnesses the educational and community-building power of green schoolyards.

So when we learned that we could make a big donation to each when we sold our home, and it would cost us nothing to do it, we were in.

Within hours, the people at My Broker Donates sent us three agents who were very well qualified in our neighborhood. We chose Amy, who proved to be highly competent. The fact that she was also an attorney helped us negotiate the best deal. And the best part, at closing My Broker Donates sent more than one thousand dollars to each of our favorite charities in our names, and it cost us nothing.

We got the best agent, the best price, and supported our favorite charities to boot. When we buy, we will use MBD for sure. We're telling our friends about this powerful tool for social good."


~Nik and Kristy

FAQ

I AM A HOME BUYER OR HOME SELLER

Why use MBD?

We bring transparency to the agent selection process. In real estate, 20% of the agents do 80% of the business. So choosing the right agent is a wise choice. Our analytical tools allow us to do just that. Without us you must rely on what agents say about themselves.

How does My Broker Donates work?

When you contact My Broker Donates, we connect you with market-leading, experienced and caring real estate professionals in your area. You choose the Realtor you like best. When your transaction closes, your broker (agent) sends part of his or her commission to MBD. We then make a donation to the non-profit of your choice. For a more detailed explanation, see our How it Works page

Why would a real estate agent ever agree to give up part of their commission?

Besides doing good for the community, there are a number of reasons:

  • Making a sale they would not have made;
  • Developing a new relationship with highly qualified new clients;
  • Getting new business with zero client acquisition cost;
  • Broker-to-broker referrals already are common and very popular in the real estate industry.

Do I have to ask the agent to make the donation?

Never. When we introduce an agent, she has already agreed in writing to contribute. You never need to mention it.

What if I want to select from multiple agents recommended by My Broker Donates?

My Broker Donates vets the real estate professionals we work with based on their professional standing, sales excellence, and commitment to their communities. If you would like us to recommend more than one broker for your transaction, we’re happy to do so.

When will my favorite non-profit receive the donation?

As soon as escrow closes, a portion of your broker’s commission will be forwarded by the escrow company to MBD, and immediately forwarded to the non-profit you have designated.

Will my designated non-profit receive the donation in my name?

Yes they will. When the foundation sends the check to your designated non-profit, it will identify you as the originator of a real-estate transaction that resulted in the donation.

How can I be sure my favorite non-profit will receive my donation?

My Broker Donates guarantees that your designated non-profit will receive the donation upon closing.

Can I direct that my donation be used for a specific purpose at my favorite non-profit?

We can and will make that request for you should you desire it, but we cannot offer a guarantee as this is a matter within your designated non-profit’s discretion.

Can I choose any charitable non-profit to receive the donation?

Generally, we work with any organization registered and approved by the IRS as a 501(c)(3) public charity, plus many school foundations and religious groups.

Is My Broker Donates a non-profit?

My Broker Donates is a for-profit corporation that gives back to the community.

How does My Broker Donates get paid for its services?

My Broker Donates does not take any money from non-profits or their supporters. We are paid by other brokers.

What if I am currently working with an agent? (Sellers)

To get the best outcome, you need the best agent. Experts recommend you interview more than one agent when making a listing decision. If you want to use our service and you are working with an agent or broker (but have not yet signed a listing agreement), we may be able to provide you with a better agent, and we are happy to prove it. Interview our Realtor®, compare her stats with the one you have been speaking with, and you decide. For a transaction of this magnitude, don’t you need the best agent?

What if I am currently working with an agent? (Buyers)

What’s most important is that you get the right house, and that means you need the best agent. Our agents have the inside track, and often can show you properties before they are available to the general public. If you want to use our service and you are working with an agent or broker (but have not signed a purchase agreement), interview our Realtor, compare her proven results with the one you have been speaking with, and you decide.

Can I use My Broker Donates to both buy and sell?

Certainly. The more real estate transactions you undertake with My Broker Donates, the more donations you create. So if you’re moving, My Broker Donates can help you sell your current place and purchase your new home.

Can my friends and family participate?

Absolutely. The more people who use our service, the more money that non-profit organizations will receive. Eventually, non-profit donations from real estate transactions will become the norm, similar to the way car donations are today. Shouldn’t non-profits get a return on the investments they make in our communities?

Can I split my donation between several organizations?

Yes you can. Simply identify the non-profits you’d like to benefit and we’ll take care of the rest.

Will My Broker Donates follow the progress of my transaction?

Yes. We will be in contact with you and your selected real estate professional to ensure quality of service.

What if I am not satisfied with the agent that My Broker Donates has selected for me?

My Broker Donates does everything possible to recommend the right real estate professional for every transaction. However, if for any reason you are not satisfied, please contact us immediately and we will make every attempt to resolve the problem including finding you a new broker.

Are there tax deductions involved?

Everybody’s tax situation is different, so for more information on tax write-offs, contact the IRS or consult with your tax professional to determine how you can benefit.

I AM A NON-PROFIT

How does My Broker Donates work?

My Broker Donates partners with non-profits to generate charitable contributions from real-estate transactions made by the non-profit’s supporters. It costs non-profits and their supporters nothing.

I don’t want to alienate my supporter base. How can I balance my non-profit’s mission with fundraising?

My Broker Donates’ non-profit partners are in complete control of all communications with their supporters. We recommend best practices for e-mail, Web site, social media and print media, and our partners decide what’s right for them. Our partners make the final decision on both content and delivery method. We deliver a turnkey system. We never have any contact with your lists.

My non-profit runs lean. How much staff time will I have to allocate to get started with My Broker Donates?

My Broker Donates creates all the material you need to get word out to your supporters. You have full editorial control of that messaging. Once you approve it, you take delivery of all messaging and distribute it through your regular communications. So the staff time investment is minimal.

How does My Broker Donates generate revenue for my non-profit?

We match your supporters with professional, trusted Realtors who have agreed to make a referral to MBD at closing. Your supporter chooses the agent they like best. When the transaction closes, you get a check. When a sale originates with a nonprofit, a $500,000 sale results in a $2,000+ donation.

How do we know we’ll receive the funds generated by our supporters’ transactions with My Broker Donates?

My Broker Donates guarantees payment upon close of escrow in each transaction. MBD submits a demand letter to the escrow agent, along with a copy of our Broker Referral Fee Agreement.

My non-profit already has relationships with agents who give us donations when we refer them business. Why is My Broker Donates better for my non-profit?

Rather than an occasional agent chipping in part of her commission, MBD is committed to building a sustainable pipeline of donations through your web presence and supporter outreach. My Broker Donates’ contribution is generally larger than an individual agent or broker gives. And, with our business model there is never any question as to whether a particular transaction will generate a donation to your group. The payment goes straight from the escrow company to MBD, and then immediately to you. Finally, we guarantee payment to the non-profit from each closed transaction that arises from our partnership. That said, we are happy to look at your existing pool of agents first when we are placing a referral.

Does My Broker Donates ask for access to my organization’s e-mail list?

My Broker Donates will not ever access your membership databases. All communication to your membership is made by you through your regular channels. In addition, My Broker Donates guarantees confidentiality as to all elements of our relationships with non-profits.

How can I be sure my members and supporters will have a good experience with My Broker Donates?

My Broker Donates reviews each broker it recommends based on their record of professionalism, ethics and commitment to community service. We check in with each non-profit supporter and their Realtor during the transaction to assure excellent service. If a non-profit supporter requests a different broker, we are happy to recommend one.

How can I make My Broker Donates work best for my organization?

Make the personal connection! Ask who on your board, staff and membership might be thinking of buying or selling property. Then say, “Can I have Jack call you?” Once you start generating funds with My Broker Donates, let everyone know how easy and beneficial the service is. It’s as easy as word-of-mouth.

Is My Broker Donates a non-profit?

My Broker Donates is a for-profit corporation with a non-profit arm, MBD Outreach Fund, which gives back to the community. Our business model requires that we be a licensed real estate broker, and our California broker’s license is #01233827.

How does My Broker Donates get paid for its services?

My Broker Donates does not take any money from non-profits or their supporters. We are paid by other brokers.

I AM A BROKER OR AGENT

What happens when I am referred a client by My Broker Donates?

Once selected by a buyer or seller, real estate professionals work with My Broker Donates on a standard broker referral basis. My Broker Donates tracks the progress of the transaction. When the sale closes, 25 percent of the broker’s fee will be paid to My Broker Donates, much of which goes immediately to the client’s chosen non-profit.

How can My Broker Donates help my business?

My Broker Donates helps real estate brokers develop clients and land new business. My Broker Donates can refer multiple clients to brokers who provide our clients excellent service, and My Broker Donates can introduce you to new clients who may recommend your services to their families and friends.

Does My Broker Donates guarantee a minimum number of referrals?

There is no practical way to project which non-profits will generate clients. While there are no guarantees in this regard, Realtors who provide non-profit supporters excellent service are more likely to get additional referrals from My Broker Donates. My Broker Donates reserves sole discretion to recommend the right real estate professional for every new client.

How does a real estate transaction made through My Broker Donates differ from any other sale or purchase?

My Broker Donates requires Realtors to render the highest level of customer service to all non-profit supporters they are matched with. If you are selected for a transaction, the My Broker Donates referral agreement will specify your obligations.

More questions? Call us at 415.300.0432 or Contact us now.