 Real Estate Question? |
| My husband and I are currently house hunting for our first home. A few of the houses we are looking at are out of our price range, and we are thinking of trying to talk the sellers price down. Our ... |
|
 Is it legal to have someone take over your lease? |
| Are there different laws depending on the State you live in?... |
|
 Can my mortgage be denied after underwriting and commitment? |
| My husband and I are purchasing a new construction. As a part of the contract, we were required to submit a pre-approval letter at the time we signed the contract. We also were required to submit a ... |
|
 Family and Real Estate Dilemma? |
| My family is losing their home. they can't pay the mortgage. They want me to buy another home as a first time buyer so they can move into it before they lose their house, they will pay for the ... |
|
 My neighbors curse, scream, and fight....? |
| Is there anything that I can do? I have a four year old son. The cops were here the other night. We live in a garden apartment, and they moved in in May I think. I mean, they go at it ALL NIGHT LONG. ... |
|
 Does a roommate have a legal say in the permanent replacement of a 2nd roommate? |
First off, please don't give me your opinion, unless it is backed by reference to a legal document...
If 2 people live together...they sign a lease, with intentions of them both ... |
|
 I'm having to move because of landlord problems? |
| im beng taken to court because of not paying the rent.but thers asbestos,roaches rats,and the sewer backs up in the back yard.he says that ill have to pay or be evictid.what do i do,and where do i go?... |
|
| We were told by a mortgage company that buyer of our home was approved & home was going to close, but has not. |
| Is there any contract or anything where a mortgage company employee says that the mortgage was approved by an underwriter & the home will definitely close? When there is no closing and the ... |
|
 I got a free house in april need help? |
| i got a free house in april becuases my dad is going away for work for 2wks, but my neighbours keep watching me, there is three of them that keep watching me. i want my boyfriends and friends to come ... |
|
 Preparing to get our first mortgagae.? |
| My wife and I are preparing to get buy our first house which also means that we are preparing to get our first mortgage. What kind of interest rate should we be looking for? Should we go to several ... |
|
 Whats the best way to get started in flipping houses for profit? |
| I watch flip that house and the real estate pros all the time, I think flipping houses would be fun and I know the income great but how would I get stsrted? Anyone know?... |
|
 Can I leave husband off of title to house? |
Married. Live in IL. Do not want his name on the title.
Additional Details
Buying a new house.... |
|
 Renters' Rights? |
| Do you have any good online resources for information on renters' rights? In Nov. 2005, I moved in with an old friend who owned her own home. In Feb. 2007, she gave me a letter that stated, &... |
|
 How is it to live in a mobile home? |
Hi,
I have saved some money, and I could buy a little mobile home... and I am wondering if this is a good idea or not.
Please help me.
Are mobile homes only for poor ... |
|
| Contents insurence for tenents? |
| i am a concil tenent and want to find out about contents ... |
|
|  |
Marina P | Please solve? |
A real estate agent received a 6% commission on the sale of a home. If the home sold for $596,000, how much was his commission? |
 |
 
Blue October
 |
596,000 x .06 |
|
newmexicorealestateforms
 |
$35,760 is the right math, however that is not the agent's commission, that is the listing office's gross contracted commission.
Now depending on who sold the property the commission gets split.
If the listing agent working for the qualifying broker also procured the buyer then that qualifying broker gets both half's (if that is what is offered) of the split, (listing and selling) the split the agent receives, is determined by the agreement they have with their qualifying broker, (say the qualifying broker gets 30% & the agent gets 70% of the listing side (say 50% of the gross commission and from that 30% for the qualifying broker and 70% to the agent of the sale side.
If another agency brought the buyer then the agent's qualifying broker with the buyer will receive 100% of the sales side (say; 50% of the gross contracted commission and 0% of the listing side with that qualifying broker then the qualifying broker splits that commission with the agent according to their contract.)
Most brokerage agencies are now looking at the per hour charge versus the commission model to see if that will help them recover all the time they spend with transactions that they never get compensated for.
Just simple math with lots of cuts at what appears to be a large sum |
|
brokerstorage
 |
$35,760 |
|
juniejuly
 |
$35,760.00 |
|
silbecl
|
While the seller of a home pays a commission, the agent receives a fraction of that. In the case you show above, the homeowner pays $35,760 in commissions, which are probably split 50/50 between the buying agency and the selling agency. Of the $17,880 that the selling agency receives, a portion goes to the owner of the agency, while the "broker associate" receives the balance, probably 2% of the total sale, or $11,920.
Not bad for a few hours of work. |
|
Jessica Lynn!
|
596000*.06=$35,760 |
|
Toya c
|
35,760.00 |
|
Alterfemego
|
Depends. Each agent works under a broker. Depending on the financial agreement he has with the broker, he/she could receive from 50% t0 100%. They still have all the marketing fees to pay from that, all their own business expenses, and what is left over pays income taxes and personal expenses.
So on your senario: $596,000 @ 6% = $35,760 If it was a coop sale, that is split, could be 50/50, could be 50/45. From there the selling agent's broker would take his share, could be 15% or could be 0%. Then all the expenses the agent incurred marketing the property, business expenses, income tax expenses etc. Depending on the tax bracket, they may net $7500. |
|
HEATHER
 |
596,000 x 6% is $35,760
That would be if there was no other agent involved on the buyer's side and it all went to the seller's agent. The agent's broker (the company the agent works for) takes a hefty percentage of that too, like 50% or more in several cases. On a 50% split, that would leave the agent with about $17,880 before taxes. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
9 | 23 minutes(s) ago
| | | |
9 | 56 minutes(s) ago
| | | |
9 | 1 hour(s) ago
| | | |
9 | 6 hour(s) ago
| | | |
9 | 9 hour(s) ago
| | | |
9 | 1 day(s) ago
| | | |
9 | 4 day(s) ago
| | | |
9 | 1 week(s) ago
| | | |
9 | 1 month(s) ago
| | | |
9 | 3 month(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
