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#452261 - 05/02/16 08:27 PM How much commission to pay agent that helps me while I'm away
Linn Santana Offline
Junior Member

Registered: 05/02/16
Posts: 4
Loc: CALIFORNIA
I have a buyer with a $400k budget, but will be going out of town for two weeks. While I'm out, a fellow agent will assist the client in identifying homes to view, showing the homes, and possibly drawing up the offer and paperwork for the sale. If the buyer finds a house during this time using my friend (the other real estate agent), and my friend does all the paperwork, how much commission should I pay?

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#452267 - 05/03/16 04:18 AM Re: How much commission to pay agent that helps me while I'm away [Re: Linn Santana]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7455
Loc: Vermont's North-East Kingdom
50%. Must be over 25 years ago; but I did one like this as a favor . . . . knowing it was a long-shot.

It was among my 1st transactions. Listing Agent came back and everything was already done.

He thought 50% was way too much; but he hadn't even met the (his) Buyers. Principal Broker asked me what I thought the Agent/Agent split should be; I said 50% and he agreed. Listing Agent was sulking for weeks (or months) following this.

Probably should have been optimistic and defined this BEFORE he went on vacation . . . . it could have been just another showing with nothing resulting, and there'd be no hard feelings ; but because I did a bang up job, someone's nose got out-of-joint.

This was a 100% in-house transaction . . . . so if it had been a Co-Broke, 50% still would of applied; but the Listing Agent couldn't think straight.

Think positive !
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#452270 - 05/03/16 06:22 AM Re: How much commission to pay agent that helps me while I'm away [Re: Linn Santana]
Linn Santana Offline
Junior Member

Registered: 05/02/16
Posts: 4
Loc: CALIFORNIA
Thanks for your reply. My friend and fellow real estate agent, whom I've known for over 20 years, asked me to help a buyer while she was out of town. She had already met the buyer and shown some homes.

I helped the buyer identify more homes and, to make a long story short, ended up helping them find the house they ultimately bought. I wrote the contract and got everything ready for the other agent. All she had to do was sign a few things and show up at closing.

I received my check and was disappointed when I saw I only received 4% of the commission. For a $10k commission, I thought for sure I'd receive at least a four-figure number. I understand this is partially my fault for not having established some sort of agreement beforehand, but I had incorrectly assumed I'd get somewhere between 10% and 50% and would have been content with anything within that range.

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#452271 - 05/03/16 06:51 AM Re: How much commission to pay agent that helps me while I'm away [Re: Linn Santana]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7455
Loc: Vermont's North-East Kingdom
So, what I'm hearing is that your Friend pocketed $9600 and you received only $400 ?
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#452272 - 05/03/16 07:24 AM Re: How much commission to pay agent that helps me while I'm away [Re: Vermont]
Linn Santana Offline
Junior Member

Registered: 05/02/16
Posts: 4
Loc: CALIFORNIA
That is correct.

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#452273 - 05/03/16 07:33 AM Re: How much commission to pay agent that helps me while I'm away [Re: Linn Santana]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7455
Loc: Vermont's North-East Kingdom
Originally Posted By: Linn Santana
That is correct.

I guess, because your situation involves a "Friend", I'd ask her how s/he calculated that figure . . . . and express some degree of disappointment (she may think you're happy); otherwise, it will gnaw on you well into the future.

But, once again, it confirms the wisdom of ironing these little matters out BEFORE any real money has been generated . . . . it's so much easier then !

Good luck !
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#452280 - 05/03/16 12:23 PM Re: How much commission to pay agent that helps me while I'm away [Re: Linn Santana]
David Hunter Offline
Major Contributor

Registered: 09/27/05
Posts: 1554
Loc: Cleveland, Ohio
I'd say 15-20%. The company I was with we'd do referral fees as 15% off the top.
_________________________
David Hunter | Retired RE Agent |Direct-Response Marketer
www.DukeOfMarketing.com/7-Real-Estate-Marketing-Strategies/
www.TheSaviorsMinistry.org


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#452291 - 05/03/16 08:35 PM Re: How much commission to pay agent that helps me while I'm away [Re: David Hunter]
Linn Santana Offline
Junior Member

Registered: 05/02/16
Posts: 4
Loc: CALIFORNIA
Thanks for the post, David.

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#452808 - 05/29/16 01:05 AM Re: How much commission to pay agent that helps me while I'm away [Re: Linn Santana]
KeepinitREALTOR Offline
Member

Registered: 03/17/16
Posts: 27
Loc: Mountain West, USA
That's the same number I see. If it's just a name and number I charge 20%, if I did all the work I charge 30. A lot of agents outside my office try to tell me it's "office policy" to not pay more than 20, I tell them its our office's "policy" to not take less than 30, do they want the lead or not? They always say yes.

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