Ep76 How Much Does My Realtor REALLY Make on the Sale of My Home?

Welcome back everyone to “The Really REAL Real Estate Podcast!” As independent contractors, realtors face a different type of pay structure than that of a traditional employee of a company or business. Today, we pull back the curtain and discuss what a realtor truly makes on the sale of a home. You might be surprised to discover that it’s not as much as you think! TALKING POINTS (3-5): • Introduction – DISCLAIMER! • Give an example of a commission and discuss how the overall split works o i.e. $200,000 sale with a 3.0% buyer agency commission o Discuss GCI o Introduce an example of the split between the brokerage and the salesperson  i.e. 75% split • We are independent contractors o 1099 not W-2 o Must set aside money for the IRS • We are our own small business o Cost of Sale/Fees  i.e. SUPRA eKey fee, MLS dues, etc. o E/O insurance o Marketing o Office supplies o Car expenses • My personal division of commissions o 50/30/20 • Additional notes to consider o Referral fees o No base salary o No pension or 401K o No benefits o What if a transaction doesn’t close? • Final thoughts HASH TAGS: #payday #howitreallyworks #thecostofdoingbusiness #independentcontractor LINKS: JASON: https://jasonwilcox.cbintouch.com/ https://www.zillow.com/profile/jasonwilcox1987/ https://www.youtube.com/channel/UCrRksfKiMNteHKYRYrinAug?view_as=subscriber https://www.facebook.com/jason.wilcox.186 https://twitter.com/jason_wilcox1 https://www.instagram.com/jason.wilcox1/ CONTACT INFORMATION: JASON: Cell Phone: 412-651-4638 Email: [email protected]