How long does it take for a real estate agent to receive their commission after a closing has taken place?

Answer 1

In our area of North Texas most brokerage firms issue something called a commission dispersal agreement. It allows the title company to issue the agent their commission check at the same time their issue the brokerage firms check.

The title company issues the commission checks immediately upon "closing and funding". This is also when the seller gets their proceeds and nowadays is usually the same day as the closing papers are signed. If the mortgage company does not fund the same day as papers are signed then of course that delays everything.

Answer 2

Anywhere from almost immediately to a week or more, depending on the accounting department of the real estate agency for which the agent works.

My agency is quite large (over a dozen satellites) with central accounting and pay out. We try to get commission checks into the hands of agents as quickly as possible, but it usually takes four or five days to make its way through our systems.

Answer 3

The Broker gets their check at the closing. The agent then carries the check to the broker and they cut a check, or if they are a large agency they may only cut once or twice a week. It depends on the pay process of the broker. But the check is cut immediately at the closing.

Answer 4

Payment to the Broker (agency) is immediate. However, agencies distribute commissions on different schedules. Check with your Broker!

Answer 5

Depends on how often the broker pays his agents. Should be very quickly as people depend on the money to live.