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Updated over 8 years ago, 06/07/2016
Realtor commission
Hello, first time post and would like your opinion.
My wife and I are looking at a new construction deal for our primary. Our current home is on the market and under contract. I have a five rental properties. I have one realtor who is now a broker who has worked with us on the past four investment property deals and also manages our properties.
I have referred several deals and they have become clients for his property management business. Not much of a referral my way unless you count a $100 gift card on two of the deals. I have referred five individuals for purchase/sale/property management deals. I am active in searching out opportunities and he has been a good resource for risks and experience.
My question is what is the referral arrangement for ongoing referrals as we have a business relationship that has grown past the first deal? Just want a sampling of ideas. My other question specifically is the new construction purchase. Do I put his name down to get 3% commission on a $550k-$600k deal?
The builder has a realtor who we have been working with. The builder will pay our buyers commission but will not negotiate down if we forgo representation.
My PM/realtor is offering a kick back of 1% in maintenance on my investment properties. I prefer cash as we will need every dollar we can to move into our new home. Another concern is all my RE transactions/PM are under this one agent. I am looking for new relationships to help grow In this RE endeavor. Thanks for reading..... And any brokers out there who can offer a better deal hit me up....