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Old 01-30-2019, 05:05 PM
 
2,223 posts, read 523,428 times
Reputation: 2472

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Quote:
Originally Posted by Blazin65 View Post
My house is under contract and the agreed upon commission was 6%. The house sold pretty quick and I've made the comment that the agent didn't have to do too much and of course that rattled them. According to them, their share of the 6% is very low.

So I'm curious if anyone has an ideal of about what this is for the actual agent. I do know this agent is fairly new to the business, so I'm guessing it's low. Let just use $200000 selling price for easy numbers. How much of 12000 actually goes to the listing agent in someones good guess?
REALTORS® are a very insular bunch. They take great offense when their work is minimized because while the transaction may go through without a hitch, there was a great deal of time invested studying and working under someone before they got where they are.

I agree that real estate agents can be quite sensitive to comments, since a lot of legwork is done while not in front of the customer, who is none the wiser. As a lineman, most of my customers groveled over property rights: "The easement in this development is FIVE FEET!" (It was 10), or "well can't you just reroute this cable to the other side of the street so I don't have telephone poles in my yard?" They don't sit around to hear how a straight wire doesn't stretch to a trapezoid. Or how you'd need to cut cables, and take out the entire neighborhood for about 12 hours to beautify someone's lawn, and incur a $30,000 job cost.
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Old 01-30-2019, 06:10 PM
 
1,747 posts, read 684,556 times
Reputation: 1860
No question they are overpaid. I don’t need a real estate agent to sell a car do I?
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Old 01-30-2019, 06:49 PM
 
Location: Florida
4,360 posts, read 3,686,334 times
Reputation: 9551
Quote:
Originally Posted by Blazin65 View Post
Let just use $200000 selling price for easy numbers. How much of 12000 actually goes to the listing agent in someones good guess?
Typically, $6,000 will go to each side. So your listing agent grosses $6,000. Then, from that, his broker takes a cut to pay for the overhead and expenses. How much that is is between the agent and his boss. But don't get the idea that he's walking away with $6k. He also has to pay taxes and such on his income, just like everyone else. I'm betting he takes home about $2k, maybe up to $3k. Now, what if your house is the only one he sells this month?

Is your take home pay per month more than $3k?
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Old 01-30-2019, 07:30 PM
 
Location: Saint John, IN
10,940 posts, read 3,600,659 times
Reputation: 13302
OP, I'm not an agent but I have bought and sold many homes over the years. You should be happy your home sold fast and if you feel that it was all because of what you did then maybe I suggest selling your home FSBO next time and keep the commission for yourself.

You hired the agent to do a job and they did and your home is under contract and it was fast. NOW you are mad you have to pay commission? She did her job, you owe her for that job. You don't have any reason to be mad except for the fact that you didn't sell BY OWNER and hired an agent. So be mad at yourself I guess.
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Old 01-30-2019, 07:43 PM
 
Location: California
890 posts, read 279,179 times
Reputation: 1559
Quote:
Originally Posted by Diana Holbrook View Post
The house is under contract quickly which should mean the agent did a good job of pricing it right and marketing it well in the photos and description to get the property looked at. They may also have run paid advertisements to make sure people saw it quick. Would you have thought they should earn more if it sat on the market a long time? I doubt it.

I bet if you look in your listing agreement, it will show the percentage of the total that will be paid to the buyer's agent. Our contract does. Our contracts always split 50-50 with buyer's agent. Others vary.

Your agent's share will then be split with his brokerage, and team if he's part of a team. Those percentages very widely.

You can ask. We've had clients ask. It shouldn't be a secret.



Most important: Your agent is NOT done yet. There is much still to do, to facilitate and negotiate the rest of the way to close. There are sometimes -MOST times - important issues that will come up with inspection, appraisal, and working through any of the issues we've had come up before close, where your agent will be tasked with negotiating for you. IMHO, that's where we earn much of our money: Solving problems and coordinating during the transaction. It's not just about getting an offer. Sometimes that's the easy part.
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Old 01-30-2019, 09:34 PM
 
134 posts, read 33,598 times
Reputation: 385
Quote:
Originally Posted by Blazin65 View Post
Inspection only turned up one thing and I'm the one that has totally handled this.

I guess I will assume the agent makes about $10000 of the 12000. But by no means will I congratulate her or thank her. Way to many times she has talked to me and said "you", rather than "we".

The agent is really only a 3rd party of the sell in this situation.

I also bought a house with this agent and she failed on many, many fronts in hind site. So the sooner this transaction is done, the better.
I don't understand why you would use someone that already failed you?

You agreed to the commission rate, end of subject. Now, don't refer anyone to her.
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Old 01-31-2019, 12:13 AM
 
Location: El paso,tx
1,639 posts, read 646,322 times
Reputation: 2662
Make sure you review your agent on all of the real estate sites, with a review that states "This realtor did a horrible job and sold my home in one day. Why, she didn't even have to work hard or for a ling time to earn that money! I wish she would have taken 6 months to sell it, so i could have made her work more for her commission."
Yeah, that will show her!
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Old 01-31-2019, 06:08 AM
 
5,182 posts, read 2,896,638 times
Reputation: 4595
Interesting thread.

I’ve had good agents, and poor agents.

All agents pull comps, get a photographer to take pictures, post it on a site, assemble collateral and host open houses. These are all table stakes and whether or not a house sells in a day or a year there is no patting on the back for that. Realtors, please don’t make this seem like a big deal because it’s not at all. Even video listings, ecards, etc. are all easily put together now.

In a hot market, with a competitive price and an attractive and clutter free property, it would take the absolutely worst of agents to not sell it quickly. Why? Because they aren’t actually selling anything.

Most listing agents list. They don’t sell. They CAN’T sell.

There are maybe 5-10% of the total population of agents in an area who are truly professional, and who can actually sell a home. You know this because when conditions aren’t perfect they still get the offers in. The hacks are the ones who - despite the home being competitively priced - only have “drop the price” as a suggestion.

I had one in Florida use the excuse “the weather is too poor for people to come to the open house”, and then the next weekend “the weather’s so nice, people don’t want to come to the open house”. (I didn’t select this agent, it was selected for me by a corporate relo company. She had a track record.) I’d ask for suggestions and she’d ask me what I thought.

A great one in NY got me an offer in a down market during the worst time of the year to sell. She was motivated, knew what we needed and committed to us to getting it done.

A good agent is worth their weight in gold, and 6% is a good deal.

A poor agent only keeps your house on the market, doesn’t think creatively, adds stress and doesn’t help you sell.
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Old 01-31-2019, 07:28 AM
 
Location: NC
1,953 posts, read 987,475 times
Reputation: 4638
Quote:
Originally Posted by Blazin65 View Post
Well I can tell from these responses that you on that side of the isle and want to defend the agent.

But I will add that the agent did very little other than put the ad on the internet. As far as pictures are concerned, I was totally in charge of this. I asked for help in getting the house ready for pictures and was basically told "no". All they did was call the photographer and I met him there before he took the pictures. Getting the house ready for pictures is the main beef I have. That took a lot of work.

And as far as the house going under contract fast, that's because I set the price right and the house was in very good condition.
You expected the real estate agent to get your house ready for the photographer?
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Old 01-31-2019, 07:47 AM
 
Location: Cary, NC
32,285 posts, read 56,466,756 times
Reputation: 31020
Quote:
Originally Posted by goldenlove View Post
You expected the real estate agent to get your house ready for the photographer?
Hey.
Some people need a professional to put the toilet seats down.
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