Home » Real Estate Forums » Real Estate Investing » Buying Foreclosures, REOs. Short Sales, FSBO, MLS and More

How does my realtor get paid??

Posted on: Mon, 02/27/2012 - 22:21
How does my realtor get paid??

My realtor pulls all of the info and I research it, find a house, get it under contract, assign it, and get paid. Do I pay my realtor from my assignment fee or does my realtor get paid through the assignee at closing?

HELP!

__________________


Posted on: Tue, 02/28/2012 - 20:23 #1
Paid from the Owner (Seller) of the House

Commissions are typically paid from the current owner / seller of the house. Typically 6% commission, 3% to the listing agent, and 3% to your agent.

- Tom


Posted on: Tue, 02/28/2012 - 20:26 #2
Take care of him

on the side and he'll work more with you.

Be cheap and your phone calls might not be returned


Posted on: Wed, 02/29/2012 - 06:46 #3
10-4 Thanks. So if my

10-4 Thanks. So if my assignment fee is $5K do I give her $1K (20%)?

If yes, how am I reporting it for taxes?

Thanks


Posted on: Wed, 02/29/2012 - 07:11 #4
Take her out to lunch

Take her out to lunch and tell her how much money that she is going to make by working with you. Then let her pay the tip.

She gets paid by the seller.

Vincent

__________________

Abundance Is Our Birthright

http://vanoeinvestments.com
http://www.connectedinvestors.com/REI-group/connected-investors-of-green...


Posted on: Wed, 02/29/2012 - 13:36 #5
Please don't say this

Footsoldier wrote:
tell her how much money that she is going to make by working with you.

Kiss of Death comment