8 October 2015 | 45 replies
I personally became a Real Estate agent to make some money as fast as I can, as a agent we usually make 3% commission on each deal we close, I closed 3 my first 2 months worth $208,000 then one for $250,000 and my most recent for $345,000.
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12 December 2014 | 22 replies
Say it goes like this:"Costs to Acquire - $45K "Costs to Fix - $20K"Costs to Sell for $100K - agents commission, closing coasts, holding costs = $10K-------------------"$75,000"Net $25,000"You get your $65,000 costs back plus 50% of gross profit $25,000 or plus $12,500."
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11 December 2014 | 4 replies
My broker charges a flat $295 fee as a buyer....commissions are typically paid by the seller...Inspection Costs - Typically, $400 or so, but call an inspectorAppraisal Costs - Probably $500 to $750, but you may not need an appraisal if you are paying cash.Title Search & Title Insurance Fees - $500 to $750...ask your broker or Title Company what fees they charge.Loan Origination, Closing Costs, Points & Fees - Ask your lenderMiscellaneous Fees - It always seems like there's a few hundred bucks worth of miscellaneous recording fees, etc...Holding Costs- Costs associated with holding the property during the rehab & listing period.Total Holding Costs = Holding Period (# of Months) * Holding Costs per MonthMonthly Holding CostsLoan Payments - Ask your lenderProperty Taxes -Can typically be found online at the on the county assessor websiteUtilities - Depends on the size of the house, but $250 might cover itInsurance - $100 to $150/month depending on the size of the houseHOA DuesMaintenance - Lawn mowing, snow removal...Selling Costs - Costs associated with selling the property.Sales commissions - commissions paid to broker for selling the property...typically 6%Seller assisted closing costs - Buyers will typically request the seller to pay a certain % or amount of the buyers closing costsBrokerage Fees - Same as buying cost brokerage feeHome Warranties - A buyer may request a Home Warranty...$500Title Search Fee - $2502nd Appraisals - I've had to pay for a 2nd Appraisal out of pocket because the property was bought and resold within 1 year...$500-$750Government Recording Fees -$100 or lessMiscellaneous - Ask your broker or Title company for a Good Faith Estimate or Preliminary HUD-1 for rough idea of costs
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11 February 2014 | 6 replies
I have used discount listing agents but offer full commission to buyers agent.
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18 February 2014 | 6 replies
With the numbers you provided above, agents can buy and flip it themselves and make $50k instead of selling it and make a pathetic 2.5%-3% commission.
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20 February 2014 | 14 replies
The only benefit is the agent may try to sway the seller to you if there are multiple offers since they will make the full commission on the deal.
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27 February 2011 | 5 replies
If you have to use the office where the agent is located; is there a 6% commission instead of 3% (split 3% to broker & 3% to agent)?
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13 June 2011 | 9 replies
Perhaps you negotiate some future commissions for getting the park filled up.
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23 August 2011 | 2 replies
The agent gets paid acquisition/listing commission and a fee for managing the project from A to Z.
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29 May 2014 | 10 replies
I would coach them and follow up with them on their success of converting these leads, and we would split the commission.