In real estate it is often confused as to who really pays the commission. The truth is it can come from a lot of different people and can be argued a lot of different ways. If we look at the 1099s on most sales it seems the listing brokerage pays the buyers brokerage based on the listing brokerage's contract with the seller. Now that said there are times this does not happen.
Some transactions the buyer pays their agent direct per the contract that they are in with their agent. This allows their agent to show them any home and know they will be paid regardless of what the listing brokerage or seller is offering. That is right I said seller is offering because some for sale by owner listings offer compensation to agents that bring buyers.
The truth is no other industry has so many variables in how and if they get paid. We as real estate agents are used to our pay being challenged and clients asking for discount. To tell you the truth that is why they hire us. We are master negotiators and will always be. By no means does this episode give legal advice but it does impart a lot of little known facts about real estate commissions. Listen today and jump in the Facebook group to talk about it.
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Do You Need to go to College to be a Real Estate Agent in Massachusetts? - EP 271 - Real Facts on Real Estate
How to Become a Real Estate Agent in Massachusetts - EP 269 - Real Facts on Real Estate
Exclusive Buyer Agency Agreements - EP 268 - Real Facts on Real Estate
Working As A Buyer's Agent - EP 267 - Real Facts on Real Estate
Understanding Home Sale Contingencies - EP 266 - Real Facts on Real Estate
Unlock New Listings With a Suitable Housing Clause - EP 265 - Real Facts on Real Estate
How To Be a Successful Real Estate Agent - EP 264 - Real Facts on Real Estate
Brokering New Construction: Strategies for Agents - EP263 - Real Facts on Real Estate
The Fear Factor: How to Overcome It and Excel as a Realtor® - EP262 - Real Facts on Real Estate
Winning A Bidding War - EP261 - Real Facts on Real Estate
Three Key Reasons for Failure in Real Estate - EP260 - Real Facts on Real Estate
Three Lead Sources That Never Fail - EP259 - Real Facts on Real Estate
Community Connectors in Real Estate - EP258 - Real Facts on Real Estate
Licensing Requirements for Brokering Businesses - EP257 - Real Facts on Real Estate
Setting SMART Goals for Realtors in 2024 - EP256 - Real Facts on Real Estate
Is 2024 a Good Year to Be a Realtor®? -EP255- Real Facts on Real Estate
Should I Get My Real Estate License in Multiple States? - EP254 - Real Facts on Real Estate
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