how are real estate agents paid?

Question

Do real estate agents get paid a base salary on top of commission of is it just commission only?

Answer 1

Generally speaking, agents get paid on commission. The person saying 6% is only partially right when it comes to commission. Sure, the agreement for selling your home may be 6$ but generally that is split between a buyers and sellers agent, so let's say the agent gets 3% of that. Then, they have to pay a set percentage or amount to the broker that holds their license and sometimes even their company in general. So rarely does a real estate agent get the full 6% even if they act as both buyers and sellers agent, because they still have to pay the broker.

In some cases, they can be paid in a different fashion. Everything from salaried to part salary/part commission. However, it seems as if this is less common.

Answer 2

It is far more common, however, for agents to be paid a percentage of the commission. Most real estate agents make money through commissions paid directly to brokers when transactions are settled. A single commission is often split multiple ways among the listing agent and broker, and the buyer's agent and broker

Answer 3

a real estate agents get [aid based on commission. those who gets salary and commission are sometimes offerred in the market, however, the comm are usually much lower.

Answer 4

Depends upon the agency. There is every method that you can imagine from a straight salary to pure commission based sales people.

Answer 5

Commission only. The commission you receive is negotiated between you and your principal broker. Then you have to split this between you and your office.

Answer 6

from my experience it is commission only because real estate agencies have no other income. how could they have other money?

Answer 7

They get about 6% of your house, so about a closet or a bathroom. Hope you don't mind roommates.