How much commission will a legitimate estate agent capture if...?
If he sold his own house to a inherited branch, so pretty much he be the agent for the buyer (family member) and trader (himself) .
The house sold for $500,000.
Also, will he own to reimburse any fees for doing it this road? If so, almost how much?
About how much will he take to pocket stale this?
If it make any difference, he works for Coldwell Banker.
If you be the buyer, would you expect to reward the closing cost or split it?
Thanks All!
Answers:
He would be pretty much crediting himself money posterior from the public sale of his home, no situation it is next to a relatives branch. If 6% that's 30k, 5% is 25k. If he is the broker he keep it adjectives. If he is an agent for a broker/Coldwell, the agency will keep hold of a percentage of the total commission since the agent is representing both trader (himself) and buyer, depending on how economically the agent is doing near the company. Some agencies offer the agent the complete commission 100%, others work a sliding level depending on the agent's performing. Still others split 50/50 or something to that effect after organization overhead (say 10% of the commission, for example). There are no other fees. Seller pays his own closing costs, buyer pays his own closing costs. Escrow fees could be split 50/50. Hope this help :)
The vendor pays the commission so he would be paying himself.
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The house sold for $500,000.
Also, will he own to reimburse any fees for doing it this road? If so, almost how much?
About how much will he take to pocket stale this?
If it make any difference, he works for Coldwell Banker.
If you be the buyer, would you expect to reward the closing cost or split it?
Thanks All!
Answers:
He would be pretty much crediting himself money posterior from the public sale of his home, no situation it is next to a relatives branch. If 6% that's 30k, 5% is 25k. If he is the broker he keep it adjectives. If he is an agent for a broker/Coldwell, the agency will keep hold of a percentage of the total commission since the agent is representing both trader (himself) and buyer, depending on how economically the agent is doing near the company. Some agencies offer the agent the complete commission 100%, others work a sliding level depending on the agent's performing. Still others split 50/50 or something to that effect after organization overhead (say 10% of the commission, for example). There are no other fees. Seller pays his own closing costs, buyer pays his own closing costs. Escrow fees could be split 50/50. Hope this help :)
The vendor pays the commission so he would be paying himself.