What You Need To Know About Realtor Commissions
There is a lot of talk in the news about realtor commissions. They LOVE what they do and they do it because they LOVE helping people but there is almost always a huge misconception on what they do and how they get paid. It’s not a secret so here ya go. The average FULL TIME REALTOR’s earnings last year was $31,900 @ 40+ hours a week. (Notice I wrote full time 40+ hours not 0-20 hours a week) which is well below the living wage. As a REALTOR they do not get paid a hourly wage or salary and they only get paid if they sell a home and it closes. They can only get paid by broker to broker. As an agent you could work with someone days, weeks, months, or years with no guarantee of a sale ever. Essentially they wake up each day unemployed going on Job Interviews and they deal with constant rejection. They dedicate time away from family, use our time, gas, pay for babysitters, miss dinner and weekends and rarely take vacations. They are on 24/7! You constantly need to be on, or you could miss an opportunity. Once they do close a home, half goes to the other persons agent from the remaining half. They have lots of upfront expenses that must be paid out before they even get paid:
Income taxes are not taken out so they have to put that aside around 25-30%. As a listing agent they have lots of tasks far more than just selling a home. 1. Prepare Listing Presentation for Sellers As a buyers agent they also have many tasks. 1. Schedule Time To Meet Buyers Whew…exhausting isn’t it!?! You don’t need to buy or sell a home to support your agent’s real estate business – here are just a few simple ways to show your support! By sharing one of their listings, sending a friend or family member their way, letting them connect you with real estate agents outside their area for a broker to broker referral, or leaving them a positive comment or review, this helps them feel seen and supported – (thanks to you)! Call Full Potential Real Estate, LLC now if you’re looking for a reliable real estate agent. We can help whether you’re buying or selling a home.Like our Facebook page for more information about buying or selling homes. Full Potential Real Estate, LLC We Serve – Carolina Forest SC, Surfside Beach SC, Conway SC, Myrtle Beach SC, North Myrtle Beach, Socastee, Little River, Murrells Inlet, Longs/Loris, Forestbrook via Blogger https://ift.tt/irTalmx March 26, 2024 at 10:57PM
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