how much did my agent make?

Asked by Rudy, Estacada, OR Tue Feb 2, 2010

How much did my agent make is my ? - how do I really know? It isn't on the closing doc's.

Help the community by answering this question:

+ web reference
Web reference:

Answers

16
The Stephen…, Agent, Portland, OR
Tue Feb 9, 2010
BEST ANSWER
I tell all my clients exactly what I make to the dollar. Any real estate agent worth their services should be willing to do the same.
1 vote
Mack McCoy, Agent, Seattle, WA
Tue Feb 9, 2010
Since you didn't pay your agent . . . ah, never mind.
1 vote
Debra (Debbi…, Agent, Livingston, NJ
Tue Feb 9, 2010
Stephen as to your comment: " Any real estate agent worth their services should be willing to do the same."

I respectfully disagree

I am "worth my services", and I am not willing to discuss how much my broker has agreed to share with me from the total commission paid.
Nor do I discuss when I have to pay a referral fee out to another agent - those are inhouse business arrangements, and the consumer isn't a party to them.

.
Whose business is it, and how does it impact the transaction regarding what my split is with my broker, or if I am making less due to paying a referral fee?? The client will know what total commission is being paid to the listing and selling agents - that's not secret.

The amount my broker pays me is my personal business, and something I negotiated with him or her.it's no one else's business. I would never ask any tradesmen or salesperosn how much they were making from my sale with them......nor would I want to answer that if asked of me.

.
1 vote
Robin Silver…, Mortgage Broker Or Lender, Garden City, NY
Tue Feb 9, 2010
As Debbie mentioned, the amount paid to the brokers should appear on the HUD1. It is on the seller's side, but it should be there non-the-less. Also, if 2 different checks were given to 2 different offices, they should be listed separately. This is something that is a federal form, as in Housing and Urban Development, so it doesn't matter if someone is in New Jersey or Oregon, it should be completed correctly. What would make you think that your agent made more than they should have on this? If they agreed to take a lower commission because you are a friend, I am sure that factored into the price that the seller accepted. Also, unless your agent is the broker, they have to split their commission with the broker. Many agents also work as partners now. If your agent has a partner, they may have to split that as well. The pie isn't as big when you have to cut it up so many ways.
1 vote
Anna M Brocco, Agent, Williston Park, NY
Wed Feb 3, 2010
Why not simply ask the question to your agent--I'm sure he/she will be more than happy to explain how the commission split works--as everyone else already pointed out, the amount is not entirely all his/hers.

Anna
1 vote
Debra (Debbi…, Agent, Livingston, NJ
Wed Feb 3, 2010
I would never presume to know what another agent did or didn't earn on a transaction.
I wouldn't even guess at it. Some splits are 50/50.....some.... 70/30.... 80/20.... one office by me offers 90/10 and no other fees........some agents may get 100% , but are paying desk fees.

What difference does it make.........

What is really getting to me here, is why do agents always feel the need to justify, explain or break down their income? There seems to be this need to apologize for what we earn..
Who asks anyone else they work with what they ultimately earn or for a break down of what they earn?

Rudy, your agent made what she made. She earned it.

If you have a question about something she told you........ASK HER............not a bunch of strangers on a public forum.....no one knows you or your agent or what her financial agreement is with her broker.

For anyone here to guess at it, is just that........a guess.
And yet, this thread continues................

Enough already............
1 vote
Debra (Debbi…, Agent, Livingston, NJ
Tue Feb 9, 2010
Diane, I asked Rudy the same question back at the beginning of this thread.....but never got an answer.

Rudy says he needs to go back to school to" learn the process to protect" himself..........Rudy - protect youself from what?

Mack - you're probably right......since Rudy thinks we are like car salesmen.........never mind..........

(by the way, I know some very nice car salesmen)
0 votes
Dianne Hicks, Agent, Rancho Bernardo, CA
Tue Feb 9, 2010
Rudy
Unless there was some arrangement of percentage back what does it matter? How many companies do you know that display everyones earnings? None
0 votes
Rudy, Home Buyer, Estacada, OR
Thu Feb 4, 2010
I understand that the problem is not her' s. She is a friend but realtor's are like car salesmen. Friend or foe?
My first home was purchased from my best friend and later found out I got screwed. It is not the company I keep it's the business practices and familiarity with how the realtors and market works. I need to go back to school to learn the process's to protect myself. Thanks for your input.
0 votes
Emily Erekuff, Home Owner, Menifee, CA
Wed Feb 3, 2010
Hi Rudy,

Your question was duplicated at the link below. Please visit that link to find additional answers to your question.

Best Wishes,

Emily Gibson
Community Moderator
0 votes
Monamarie Mc…, Agent, Clackamas, OR
Wed Feb 3, 2010
Hi Rudy,

I'm assuming this is a recent transaction so congratulations on your new home!

I gave a "thumbs up" Susan Howard's answer but I'd also like to suggest that you look at the type of agency agreement that you entered into with your agent. If you signed the DISCLOSED LIMITED AGENCY AGREEMENT there will not be anything regarding commission unless you or your agent specifically wrote something into the agreement. If you signed the EXCLUSIVE BUYER SERVICE AGREEMENT, which is the type of agreement that I use with my clients: it will state the amount of commission that your Realtor will be receiving and how they will be receiving it ie: from seller, from buyer or a combination there of.

Also, if you and your Realtor ended on good terms; they should be very happy to answer this question for you. They want you to remain happy so you call them back in the future!

Best wishes,
Monamarie McCreary
Capstone Real Estate LLC
503-348-3025
0 votes
Bill Eckler, Agent, Venice, FL
Wed Feb 3, 2010
Rudy,

The truth be known......agents don't make as much as people give them credit for. First off the fee for professional services(commission) is split equally with the other agent. Then the broker needs a piece of the action, generally 20 to 50 percent. Figure in our operating costs ie, board dues, franchise fees, electronic key, E&O insurance, desk fees, advertising, gasoline, paper, ink, taxes, research time etc. etc.

Without knowing the specifics of your transaction, it would be fair to assume...on a total $6,000 commission somewhere in the range of $1,200 to $1,500.
0 votes
James Gordon…, Agent, Hamilton, OH
Wed Feb 3, 2010
Rudy just ask. This is the person that just helped you make the biggest purchase in your life. They gained a lot of confidential information about you durring the process. If you do not trust them to tell you how much they made something is wrong.
Web Reference:  http://www.Find1Home.com
0 votes
Debra (Debbi…, Agent, Livingston, NJ
Wed Feb 3, 2010
Rudy, the only reason I can see you being so concerned as to how much your agent made on the sale, is if she promised you a rebate (if they are legal in OR) of some sort based on a percentage of what she made.

Otherwise, really........why do you care?
0 votes
Debra (Debbi…, Agent, Livingston, NJ
Tue Feb 2, 2010
Rudy - the Hud-1 statement should show what real estate commissions were paid to the Brokers.

The Hud-1 is a document that provides an itemized listing of the funds that were paid at closing.
Some items that appear on the statement include real estate commissions, loan fees, points, and initial escrow amounts, among other things.

Now, as far as exactly how much of that total commission your agent received (what the split was with the broker), is not really anyone's business - it's a personal contractural agreement between the broker and the agent.

Hope this helps!
0 votes
Dan Chase, Home Buyer, Texas City, TX
Tue Feb 2, 2010
As the buyer, it does not really matter. The listing had a % listed your realtor got. It came out of the proceeds the seller got from you.

No realtor is going to forget to collect their commission.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more