Today's question was:
Q: I saw your Q&A yesterday about not charging your buyers. How do you make money then?
A: Although this isn't really the type of Real Estate question I was expecting, the curiosity of the question made me laugh, so I thought maybe other people might be wondering the same. I get paid by the seller! Let me explain... When a seller lists their home with an agent, the commission % that the agent charges them to list their house goes to 4 different parties. Out of that commission, the listing agent has to pay THEIR broker, Me, MY broker and themselves. I don't get paid hourly or a salary. I only get paid if my clients buy/sell a house.
Q: I saw your Q&A yesterday about not charging your buyers. How do you make money then?
A: Although this isn't really the type of Real Estate question I was expecting, the curiosity of the question made me laugh, so I thought maybe other people might be wondering the same. I get paid by the seller! Let me explain... When a seller lists their home with an agent, the commission % that the agent charges them to list their house goes to 4 different parties. Out of that commission, the listing agent has to pay THEIR broker, Me, MY broker and themselves. I don't get paid hourly or a salary. I only get paid if my clients buy/sell a house.