How do Real Estate Agents get paid in the UK and Ireland? Commission or Salary? Percentage?

Answer 1

Most Estate Agency business have an Office employing many people.

All the employees get a Salary, however Sales Staff Salary is low ("basic"), but they get Commission. Basic + Commission make "On Target Earnings" (OTE) which is what they can expect if they sell a 'normal' number of properties (for that Agency).

The Agency charges the seller commission of between 1.5 and 2% of the final sell price. If they don't sell the house, the Agency gets nothing. This has to cover all costs - so only a little of the 1.5-2% goes to the Sales Staff (Sales Staff might get some fixed amount per property plus a bonus for exceeding some target number of properties)

Answer 2

definite they'd. even with the incontrovertible fact that, with a view to sell actual materials you would be able to have a real materials license which has been earned by going to college and passing the college examination and then happening to bypass a State examination. the two that are very difficult. and then the license is issued with the help of the State. for this reason, a real materials agent isn't an worker of a company. they're an self reliant agent working for a fee it relatively is desperate with the help of a settlement it relatively is negotiated between the co. the place they dangle their license and the critical broking provider of that enterprise. you will paintings the days you like to paintings and sell the place you like to sell and paintings the hours you like to paintings. Your funds comes out of your understanding, understanding and hard paintings. What you place into it relatively is precisely what you come again. An agent who's paid a earnings + a small fee is one that is an worker of that enterprise and is instructed the place to sell and what hours and days they could paintings. What days they are going to be off and what holiday journeys they are going to be off and how long they'll take for that holiday. it relatively is an rather controlled ecosystem. What you place into it is not what you will get in return. After going to college and working with all the finding out and tests and then getting your license to sell actual materials everywhere in that state, there are no longer likely to be very many actual materials brokers who will bounce on that concept. If , even with the incontrovertible fact that, they are no longer a sturdy communicator or broker or can no longer get and carry interest and self assurance of the people they're coping with or do no longer understand the thank you to define people to sell residences to or sell residences for......then they could be prepared to settle for much less funds and stop the liberty to run their very own enterprise. it is the version in getting fee or being an worker.

Answer 3

As employees it's usually both. There'll be a basic salary package plus, although not always, with commission payment linked to sales on top.

Commission only working tends to only apply to self employed sales people.

Answer 4

Both

Answer 5

both.