Quote:
Originally Posted by acip
One more thing to keep in mind, because you said that it is all about the money, we do not make any money until the closing . So, if you have a client that is looking for a home and let's say we started in April, put an offer in around the first week of May and actually closed on it say June 30th, the commission is split between the listing agent and the buyer's agent (5% and half of that is 2.5%) The house sold for $400,000 with a total commission of $20,000 which is split so each gets $10,000 which is split again between agent and broker , which than $5000 for each. Now take that $5000 and break it down over a two month period which is $2500 a month, break it down again for a weekly period which is $625 a week, now deduct gas, tolls, phone, etc. So, when you actually look at it does it really seem like we are only in it for the money? I am sure $500 aweek to most is not alot of money.
Good luck with your home! You can email me if you would like some help !
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Just so I am clear on what you said above... Are you assuming you will be working full time on this client from April - Closing? In my experience, no realtors spend full time on one client; most agents have multiple clients they work with at one time. Therefore, if you look at the amount of time spent per client, divide that into your commission, would it still be such a bad deal?
Honestly, I believe the good agents can do a lot for the clients and they often put in their precious time with no guarantee returns. That's a bummer. I strongly feel that agents should get paid on a flat rate basis for the work they do regardless of whether a client makes a purchase. This way, it takes out that "money" issue so no agent would want to sell me a higher priced home or negotiate less for me because our interests are not aligned.
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