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#459843 - 11/21/17 10:52 AM compensation for other agents listing & other agents buyers
moonstone Offline
Junior Member

Registered: 11/12/17
Posts: 4
Loc: NH, United states
Hi,i showed a house for another agent (office manager/owner). the couple i showed to the 1st time bought the house. her commission was at least $3,360. i will be receiving about $250.00-is that right? also, for this same agent i have been meeting her buyer clients, driving all around. i need experience but only experience i seem to be getting now is driving. i don't want to be used & abused, at the same time i'm reliant on this one person. any opinions about this?

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#459844 - 11/21/17 11:42 AM Re: compensation for other agents listing & other agents buyers [Re: moonstone]
Long Walk Offline
Member

Registered: 06/27/08
Posts: 152
Loc: New Hampshire
Welcome to the site, Moonstone.

There is a wealth of experience on this board, so you will get lots of good advice.

So that I understand better: what kind of arrangement do you have with the manager/owner? Are you a buyer's agent for the manager/owner? Are you free to work your own leads? Who set the fee split on those client sales?

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#459995 - 12/04/17 04:50 PM Re: compensation for other agents listing & other agents buyers [Re: Long Walk]
moonstone Offline
Junior Member

Registered: 11/12/17
Posts: 4
Loc: NH, United states
Hi,
thanks for the quick response. i responded quickly but forgot to prove i wasn't a robot. then Thanksgiving...
aside from the thing i asked about (she gave me %10 for showing her listing, which sold)i have another question: she has asked me if i want to be a showing agent for her. do you know what kind of compensation is normal? i see your from NH so that's great.

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#459999 - 12/05/17 05:22 AM Re: compensation for other agents listing & other agents buyers [Re: moonstone]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7743
Loc: Vermont's North-East Kingdom
It doesn't sound like you have a "written" Independent Contractor Agreement (ICA) with this Broker.

An ICA would define what your responsibilities are AND how you would be compensated for performing them.

Are you being paid for those Showings that DO NOT result in Sales ?
_________________________
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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#460000 - 12/05/17 06:55 AM Re: compensation for other agents listing & other agents buyers [Re: moonstone]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2245
Loc: Outer Banks
You want to be her buyers agent, not her showing agent. As a buyers agent you pay her the referral fee, not the other way around.
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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#460001 - 12/05/17 07:24 AM Re: compensation for other agents listing & other agents buyers [Re: Bigtoe]
JohnN Offline
Member

Registered: 11/21/13
Posts: 233
Loc: Minnesota
Originally Posted By: Bigtoe
You want to be her buyers agent, not her showing agent. As a buyers agent you pay her the referral fee, not the other way around.

I'm sure he/she does but that's not what the other agent is offering them. We do the same thing, pay $350 for showings that result in a sale.

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#460021 - 12/06/17 07:01 AM Re: compensation for other agents listing & other agents buyers [Re: JohnN]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2245
Loc: Outer Banks
Originally Posted By: JohnN
[quote=Bigtoe]
I'm sure he/she does but that's not what the other agent is offering them. We do the same thing, pay $350 for showings that result in a sale.

an agent that settles for what is offered has no future in real estate. If they cannot negotiate a better deal for themselevs then how can they represent clients?
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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#460023 - 12/06/17 08:23 AM Re: compensation for other agents listing & other agents buyers [Re: Bigtoe]
JohnN Offline
Member

Registered: 11/21/13
Posts: 233
Loc: Minnesota
Originally Posted By: Bigtoe
Originally Posted By: JohnN
[quote=Bigtoe]
I'm sure he/she does but that's not what the other agent is offering them. We do the same thing, pay $350 for showings that result in a sale.

an agent that settles for what is offered has no future in real estate. If they cannot negotiate a better deal for themselevs then how can they represent clients?

What do you consider to be a better deal? If I've been working with a client for months, and I ask a fellow agent to cover me for 1 showing, how much should I give them?

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#460031 - 12/07/17 06:57 AM Re: compensation for other agents listing & other agents buyers [Re: moonstone]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2245
Loc: Outer Banks
@JohnN This thread is about moonstone, not you. Moonstone said they were asked to be a showing agent which sounds like the opportunity to be someone's lacky. That offer should be rejected by anyone who wants to become a sucessful agent. If the other agent has too many buyers then they should bring on a buyers agent not a showing agent.
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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#460032 - 12/07/17 08:03 AM Re: compensation for other agents listing & other agents buyers [Re: Bigtoe]
JohnN Offline
Member

Registered: 11/21/13
Posts: 233
Loc: Minnesota
Originally Posted By: Bigtoe
@JohnN This thread is about moonstone, not you. Moonstone said they were asked to be a showing agent which sounds like the opportunity to be someone's lacky. That offer should be rejected by anyone who wants to become a sucessful agent. If the other agent has too many buyers then they should bring on a buyers agent not a showing agent.

Yea I know, just a little grumpy. shocked

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#460035 - 12/07/17 08:28 AM Re: compensation for other agents listing & other agents buyers [Re: Bigtoe]
Long Walk Offline
Member

Registered: 06/27/08
Posts: 152
Loc: New Hampshire
Originally Posted By: Bigtoe
an agent that settles for what is offered has no future in real estate. If they cannot negotiate a better deal for themselevs then how can they represent clients?

When applying this to an experienced agent, I might agree with you.

Moonstone gives all appearance of being a brand-new agent. If so, s/he has everything to learn about negotiating. And about building value in her/his service offering. Part of that process is resolving not to take low-paying work again.

But, Moonstone has not given us the scope of work. If s/he is being paid $350 to open a door for a showing, that, in my mind, is a good deal. It becomes a bad deal when all the work of negotiating and closing a sale are added to that fee.

Finally, if Moonstone is that new, then s/he probably doesn't know yet where that RE license could take him/her. This may be part of him/her finding his/her way.

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