Stats show that 88% of home buyers and sellers use a real estate professional (me) – ever want to know how I get paid and other fun real estate facts? I’ve got you covered!
Long story short…I don’t get paid unless you buy or sell your house. Period. Unlike other professionals who charge an hourly rate or invoice at the end of a project, I only get paid at the end of a successful transaction. If for some reason, the transaction doesn’t close (i.e. financing falls through, a party to the transaction pulls out at the last minute, etc.) I do not collect any monies. I’m putting all my eggs in the successful transaction basket! Scary! 🙂
I earn a commission based on the sales price of a property. That commission percentage varies from property to property.
The list agent and seller agree on a commission percentage (6% to 7% is usually the going rate – price of the property comes into play in what that commission may be), and the list agent will offer a co-op fee to any agent bringing a buyer. Generally speaking, that co-op fee offered to a buyer’s agent is half of the total commission charged to the seller. *Remember buyers, my services to you are FREE! Comissions are always charged to the seller!*
Some of my business costs of being a REALTOR:
Gas used during showings, list appointments, and the like; fees due to my local board; marketing costs for mailings, prospecting, open house costs, etc.; desk fees due to my broker on a yearly basis; etc.
Have you or someone you know ever thought of being a REALTOR? If so, contact me for more information about how to start the process! I have a great broker always looking for motivated individuals!
Whether a buyer or seller, the expertise of a professional REALTOR who represents your best interests should be worth every penny!!!
By Jill Curtis, talktotucker.com/jill.curtis