Real Estate Agent Commissions
How do real estate agents get paid? Join today's must watch episode of State of Real Estate with host Jon Carissimo as he breaks down what's required, what's legal and what you need to know.
This episode of the State of Real Estate weekly show delves into the intricacies of real estate commissions and the evolving industry. It explores various commission scenarios, the enduring relevance of the MLS, and the impending standardization of buyer representation agreements. The value of real estate agents in negotiations and bridging the skills gap between buyers and sellers is underscored.
The episode also addresses misconceptions about commissions, strategies for maximizing them, and the significance of understanding seller's net proceeds and reinvestment options. It recommends the use of buyer brokerage agreements for clarity in client-agent relationships.
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FAQ
What is the most exciting topic in real estate discussed in the show?
The most exciting topic in real estate discussed in the show is commissions and the changes involved with commissions.
What is the change involved with commissions in the real estate industry?
The change involved with commissions is that commissions can no longer be in the MLS and buyer representation agreements are becoming more of an industry standard practice.
What role does the connector play in the real estate process?
The connector is the one who helps make the dreams of buying a property become a reality by connecting the buyer with various professionals such as title companies, lenders, inspectors, insurance agents, and alarm companies.
What is the assumed relationship in Florida real estate transactions?
In Florida, the assumed relationship is the transaction broker relationship, which is there to protect the buyer but not the agent. Using a buyer brokerage agreement establishes a formal employment contract and protects both the agent and the buyer.
What is the Pass First Try strategy for studying for the real estate exam?
The Pass First Try strategy is a four-step process that involves learning the information, reinforcing key concepts, testing your knowledge, and being confident and prepared for the exam. It is designed to help students pass their real estate exam with confidence.
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