1. The owners who sell the house pay a commission to their listing agent's broker based on a percentage of the selling price. ( example: 6% - 10% )
2. The listing broker then offers a part of the commission to the Agent's broker that brings a buyer that buys the property. ( The commission is split equally most of the time. )
3. Once the property closes the sellers and buyers broker is paid and then the respective agents are paid.
4. Real estate agents are paid for results. The property transaction must be completed successfully or they are not paid. Real estate agents do not receive salary, benefits, expense accounts, or company cars.
5. Real estate agents are independent contractors and have out of pocket expenses to stay in business.
6. All expenses the agent incurs belong solely to the agent and only after a successful transaction are some expenses recouped.
7. So if a Real estate agent is asked to cut their fee by 1% what they are really being asked most times is to cut their pay by 33% or more.
8. It is the real estate agents' fiduciary duty to act in the best interest of his client. Those are words that drive my business. Rick Hogue agrees with that statement.
Contact me when you are ready to get your home SOLD or if you are ready to BUY. Or visit were I live.
Noel Harris, Realtor
C: 502-338-7145
O: 502-554-9539
F: 502-554-9540
noelharris@louisvillehomesearches.com
Find a Home www.louisvillehomesearches.com Keller William Realty Louisville East
1230 S. Hurstbourne Pkwy Ste. 100
Louisville, KY 40222
2. The listing broker then offers a part of the commission to the Agent's broker that brings a buyer that buys the property. ( The commission is split equally most of the time. )
3. Once the property closes the sellers and buyers broker is paid and then the respective agents are paid.
4. Real estate agents are paid for results. The property transaction must be completed successfully or they are not paid. Real estate agents do not receive salary, benefits, expense accounts, or company cars.
5. Real estate agents are independent contractors and have out of pocket expenses to stay in business.
6. All expenses the agent incurs belong solely to the agent and only after a successful transaction are some expenses recouped.
7. So if a Real estate agent is asked to cut their fee by 1% what they are really being asked most times is to cut their pay by 33% or more.
8. It is the real estate agents' fiduciary duty to act in the best interest of his client. Those are words that drive my business. Rick Hogue agrees with that statement.
Contact me when you are ready to get your home SOLD or if you are ready to BUY. Or visit were I live.
Noel Harris, Realtor
C: 502-338-7145
O: 502-554-9539
F: 502-554-9540
noelharris@louisvillehomesearches.com
Find a Home www.louisvillehomesearches.com Keller William Realty Louisville East
1230 S. Hurstbourne Pkwy Ste. 100
Louisville, KY 40222
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