As a dual agent realtor, do you get both cuts that buyer and seller realtors get? What percentage of the sale do you get as a dual agent?
Yep, that's why they have lawyers.Dang seems complicated
Yes, when you sell your own listing, you get both sides of the commission.As a dual agent realtor, do you get both cuts that buyer and seller realtors get? What percentage of the sale do you get as a dual agent?
Yupp. My late father tried real estate, decided the broker was just using him to staff the office. Quit.Yes, when you sell your own listing, you get both sides of the commission.
Around here, the typical commission, for decades, has been 6% of the sale. The listing company / broker gets half of that, so if you list and sell a property, you make 3%.
If the listing and selling agents are both with the listing company, each agent gets 1.5%. If the selling agent is from another company, the 3% sales commission is split on a 60/40 basis instead of 50/50, with the idea that the listing firm has spent money on advertising expenses.
Of course, you are working as an independent contractor for the broker, so you use your own vehicle, pay for your own gas, pay for your own health insurance, pay over 1k per year for MLS fees, license renewal, continuing education classes. You get paid on the sale only, and nothing for working in the office.
Bingo, most do quit. It is a very tough business, and takes a long time to get established. We get compared to lawyers, and there are some similarities, except in the $$$. I had customers tell me that I should have been a lawyer, and if I had it to do over, I would have.Yupp. My late father tried real estate, decided the broker was just using him to staff the office. Quit.
Sorry @aznsx, but since it was the OP who mentioned buying a lot, and asked if it was smart to buy land, I got us off on the Real Estate tangent by answering his question, and then someone else's.yea all think me buying some small land will be smart like 1/4 acre? localy just for a place to have to go .if the world gets crazier?i see small lots for like 7 grand ..id get a small loan .seems like land is smart to buy?
Definitely a very un-"liquid" asset. Rather "solid" I guess. Always those pesky choices. Life - if it was easy, anyone could do it ;-)Yeah raggie threads meander, flit and flutter. No big deal.
Real estate agents also have to endure the dry patches and interest rate hikes.
Based on what raggie has said in the past, money invested in land can be very hard to cash out in case of fiscal emergencies.