I would like to know how much your average paycheck for a sale is. How often do you sale a house? Whats your average income. All answers would help.
2006-08-15 03:58:47 · 4 answers · asked by Theandysullivan 3 in Business & Finance ➔ Renting & Real Estate
Not a general rule, but most commissions are set at 7% of total price of home. This commission is then split between two Brokers, the selling Broker and the listing Broker. The Brokers are people the real estate Salesperson works for.
Each Salesperson then splits with the Broker. This number varies greatly, but most starting sales people work at about 50%.
So if the house sale was $100,000, the total commission is $7,000. this is split to $3,500, the split again to $1,750.
The more you sell the more you make. And the moral of the story is "Become a Broker"!
2006-08-15 04:12:50 · answer #1 · answered by D D 2 · 0⤊ 0⤋
Commissions are worked out between the Agent and the Agent's Broker. The Commission on the sale of the house is worked out between the Agent and the Seller.
So the Seller can say I will give you a 5% commission<--this goes to the Broker. Normal commission for selling any home is set between 5-8% of the selling price. So, you're negotiating between 5, 6, 7 & 8 %, which is alot.
The Broker will have an agreement with his Agent in writing of a standard commission between 70-100% of the Broker's Commission. So the Broker gets 5-8% on the house commission which goes to him to split with the Agent at a 70%-100% of the original commission.
Depending on the market and geographical area, an Agent can sell 1-3 homes a month and average anywhere between $10-20k a month. Average selling home of $350k and UP. An Agent friend sold two houses in one month, one house worth $563k and the other $489k--she took home $10k in one month for 2 houses.
2006-08-15 11:08:06 · answer #2 · answered by bye 5 · 0⤊ 0⤋
Well, I make 3% of the sales price when I sell a home + another 3% if it is one of my listings. I only have to pay $350 to my broker. Average home price in Houston is $150,000. I sell 2 to 3 houses a month. Do the math. I'm also a Loan Officer and take care of the financing on most of my deals.
2006-08-15 11:07:13 · answer #3 · answered by Olivier P 3 · 0⤊ 0⤋
commission is always diff. depends on the down paymnt. starts from 4000$
2006-08-15 13:43:12 · answer #4 · answered by Piffle 4 · 0⤊ 0⤋