Why Have a Buyer's Agent When Purchasing a House?Buying a house is one of the most significant undertakings you'll make in your entire life. It's not simply about finding the right home for you and

Dated: August 15 2020
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In these Step-by-Step Tutorials, you'll learn some of the different methods used to compensate real estate agents. When choosing a broker to hold your license, the commission arrangement may not be the most important factor.
Weigh the services that your broker provides to agents, as well as the expected number of prospect leads and their quality. If you're receiving a large number of quality leads, then a smaller commission split percentage will still lead to more income for you.
The vast majority of real estate agents are compensated by a broker via sharing the gross commission amount that the broker collects. We're not discussing percentages charged to the client here, only the way the agent is compensated. Here's an example:
1. Gross commission amount of a transaction = $12,000.
2. Broker/Agent split of 50 percent broker/50 percent agent = $6,000 to the broker and the same to the agent.
3. The percentage split is an amount agreed to by the broker and the agent and usually reflects the level of services and support the broker provides. It can also reflect the volume of business the agent brings in. Highly productive agents can negotiate better splits.
4. If you're in the process of choosing a broker to hold your license, the split is important, but should be balanced with the services and leads provided by the broker.
Tammy Broxson is the Broker Owner of Broxson Real Estate Group, a boutique real estate brokerage in Florida. Tammy is also a State of Florida Real Estate Instructor and a mentor to other real estate p....
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