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Our editorial team does not receive direct compensation from our advertisers. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. The reason why the real estate agent commission is split with the real estate agent's brokerage is for legal protection if the home buyer or home seller pursues a lawsuit against the agent.
Depending on the experience level of the real estate agent, they can negotiate their split percentage with the real estate brokerage. That money can offset business costs or go towards a down payment on an investment property. Some real estate brokerages cap how much money the brokerage takes from the real estate agent commission in a year. In this case, the stipulation means if a real estate agent earns the brokerage a specific amount of money in a year, any earned commission after that goes fully to the real estate agent.
Most people become real estate agents because they want a career that gives them financial freedom. The reason why real estate agents have the reputation of being wealthy is that there is no limit to how much they earn in their careers.
Also, this money can help finance the fees to be a real estate agent. The amount of the cooperating commission is set out in advance and is used to encourage or entice other agents to sell the home.
Pro Tip: If the goal of offering a cooperating commission is to persuade buyer agents to show and sell your home, it makes sense to set the commission amount in line with what other Sellers are offering. Offering less might mean agents are less motivated to sell your home. If commission is a carrot, do you want to offer the smallest one? The percentage of commission you pay is not dependent on how long it takes your home to sell — you pay the same if the home sells in 8 hours, 8 days, 8 weeks or 8 months.
That would be like paying your dentist less because your root canal went more smoothly than expected. That would be like paying your dentist more if you have complications during surgery, get an infection and it takes you longer to heal.
Commission is true pay for performance. The easiest way to save on commission is to sell your home yourself — but that comes with real financial and time-related costs too. Find out which parts of Colorado Springs have appreciated the most in the last 5 years. Learn about the top tactics that Realtors are using to get their offers accepted. You have successfully sent this blog entry to your friend. Who Pays Agent Commissions? How do real estate agents get paid?
How much do Realtors cost? Who pays the Realtor's fee? How much do Realtors pay their brokerage? How much money do Realtors make per year? Why do Realtors charge so much? Can a listing agent represent both the buyer and seller?
Learn about this popular tactic to win a bidding war. Blog Catagories Home Buying Tips. Home Selling Tips. For Realtors. Local Market Statistics. Try Our Custom Home Search. Explore Local Neighborhoods. Ready to Sell Your Home? Print Share. How Do Realtors Get Paid? Your Name. Your Email. Friend Name. Friend Email. Message Optional. Share This Blog Post. Share this Blog Post You have successfully sent this blog entry to your friend. Friend's Name. Friend's Email. Message optional.
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