what money do the Realtors take when you buy a house?

Question

Is you suppose to give them a tip.

Answer 1

The previous answer is almost right. The Realtor split is normally 50:50 of the fee charged the Seller.

However, the fee is NOT the Realtor's, it's the Broker's. The commission is then divided again. Depends how good the Realtor is how much they receive. If they're a Rookie (someone serving their first year) it's often a further 50:50 split. So, in reality it can be be as low as 1.5% of the sale.

Given an average amount of time involved showing homes and dealing with the masses of paperwork, plus, all the time-wasters. The average Realtor is lucky to earn a gross figure of $15 an hour, less their marketing costs and then personal tax.

Now you know why so many are quitting in their droves!!! (Overall this is not a bad thing since it'll raise the standard of service for the consumer.)

Answer 2

No, you don't give them a tip. They get a commission from the sale of the house, which is a percentage of the purchase price. If there are 2 realtors involved, they will generally split the standard 6% commission, each of them taking 3%.

Answer 3

As a shopper, having a REALTOR show you how to including your purchase might desire to fee you $0.00! turn faraway from brokers that want to can charge you a retainer cost or a cost. In a typical authentic sources transaction, the place the supplier is represented by capability of a itemizing Agent and the shopper is represented by capability of a shopper's Agent, commissions are paid out from the supplier's internet proceeds to the two between the brokers and their respective brokers. Your costs to purchase: - Earnest money (comes off the quantity you ultimately own loan) - Any inspections which you elect (paid on the time of inspection) - Appraisal cost & any own loan application expenses (paid on the time of non-public loan application) - Any abode confirm which you would be able to wish (that's negotiable to the two pay your self on the time of last or to ask the supplier to pay) - last costs (upwards of three% of the acquisition cost, that's negotiable right into a purchase order contract the two by capability of including it to the acquisition cost or inquiring for the supplier to pay them) - The own loan i'm hoping this enables! enable me understand in case you like any rationalization!

Answer 4

The seller pays a set percentage of the sales price. Each agent gets a preset share of that. No tip required or desired. In some circumstances, it may even be illegal for them to accept.

If they did a particularly good job, tell your friends, or come back to them when you're ready to sell, or to buy another.

If they didn't, tell your friends that, too. And stay away from them in the future yourself.

Answer 5

No, you don’t need to tip them. Their compensation is the commission.

Just as an FYI, you never need to tip the owner of a business. Real Estate agents are usually independent contractor, i.e. self-employed.

Answer 6

No do not give them a tip! However their commission should be laid out on your settlement statement so you can see exactly what percentage they are receiving. Typically 3-6%

Answer 7

Well, on a 270 thou house, 15thou to realtor and 6ooo to taxes on sale. ouch, hate realtors! I had one who tried to talk clients out of my house in the front yard, they insisted to bid, but this realtor used to call me at 9:30pm when I asked her not to call after 6pm. These people are vultures, and like to walk all over you, and when your house is up for sale, your dealing with all the big birds.

Answer 8

6 per cent