Commission

by Madame Morticia on March 29, 2011

A 6% commission for selling my $300,000 home!?! $18,000 out of my pocket? Does my agent realize that by listing my home & offering 3% commission to the buyer’s agent, we’ll shortly be inundated by a flood, a glut, a parade of agents eager to show their clients the “perfect property” and buyers potentially unqualified to make the purchase? Traipsing through my home and disturbing my family!

For the $9,000 you’ll be making, agent, on the sale of my house, I’d expect you to pack up all my stuff for me into boxes you’d provide; arrange transportation & physically move the stuff to the new place – oh, and then do all the cleaning in the old house that would be required. And take care of all the address changes, pick up the tab for phone, cable and internet transfers. And even THEN, even that amount of work is not, NOT worth $9,000 of MY hard-earned money!

Commission structures are crazy! Agents make a killing for doing little-to-no real work! After paying all that money in “commission fees” to your agent, you STILL have all the associated costs related to moving!

The real estate world is full of sharks!

This post was submitted by Madame Morticia.

Leave a Comment

 

{ 2 comments… read them below or add one }

Liam April 11, 2011 at 12:17 pm

Clearly someone in our profession has let you down by not explaining the process of listing and selling your property and all that is involved. I’m very sorry for your experience and that you think so poorly of what it is that we do. I sincerly wish you all the best in the sale of your home.

All the best in your endeavors ,
Liam

S H Mort May 19, 2011 at 9:22 pm

I understand how it may sound to you as if we Realtors are getting rich quick. I would like to explain this to you….for every client that we receive a commission from there are 10 more that we don’t! We advertise in the newspaper and the Homes magazine with our money, we pay for all of our gas and upkeep on our vehicle. We pay for our key pads to open the doors (every year) we pay to belong to the Multiple Listing Service as well as the Real Estate Board. We pay for errors and omission insurance and are required to take furthur educational classes. We spend thousands of dollars a year to participate in this self employed position. Then on top of that 1/3 rd to 1/2 of our commission is paid to our Brokers as well as the extra if we have a franchise fee. Then working with the public is no treat in itself. Most people think we are getting rich quick….well guess what …WE AREN’T!!! I love most of the people I work with and go out of my way to help them. I don’t have to be a Realtor- I have a Bachelor’s and a Master’s Degree in Marketing and Management so there’s many other jobs that would pay me hourly or salary if I wanted to go in that direction. I feel that I help others and I try to go out of my way to please my clients. The 50 to 60 hours or more I work each week is not easy either. Although I choose to sell Real Estate because I feel I am doing what I enjoy doing and am satisfied doing. I hope in some way you will understand we all are not money hungry vultures and that some of us do have our clients best interest in mind!