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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: 7591
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: 7591
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: 7591
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 Online   content
Major Contributor

Registered: 09/27/05
Posts: 1598
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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#457161 - 03/31/17 05:39 PM Re: How much commission to pay agent that helps me while I'm away [Re: Linn Santana]
Chrispy Offline
Junior Member

Registered: 03/28/17
Posts: 8
Loc: Florida USA
Two pieces of advice: first of all make an arrangement BEFORE you leave. Don't wait until the deal is done. Then later on there can be no dispute, or hard feelings.
We don't have this problem in our Florida firm. We have 30 Realtors and we often cover for each other without expecting anything, its just a favor with the implied feeling that they will cover for me when I go away. The coverage is free on both sides no matter how much work is done. It is customary for the Realtor who was covered present a nice gift to the covering agent if a deal is made for them. The size of the gift depends on the size of the deal and how much work is involved. I have seen $2,500 dollar gifts for a large deal. I have also seen $25 gifts.

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