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Just closed my first sale

Big Dick McGee said:
^^Yeah, but he has to split the commission with his "house", probably 60/40, so he'll really pocket around $15,000...before taxes, of course. So he'll have to sell a LOT of very expensive houses to make a comfortable living. I don't really know the RE market in Vermont, but Cali is the most overpriced state, and you can routinely get single homes in the range of half a million. Some of the condos I've been looking at are around $400,000.

Of course, commissions are higher on lower priced homes, but even if you're a fully-licensed broker, you'll be making 6%, tops (unless you're both the buyer and the seller's broker, of course). That means on a $400,000 home you'll work 7 days a week to get it sold, and pocket around $24k. However, it seems our resident garden gnome is a salesman, which means the .75% is about right. That means a sale like the one I described will gross a whopping $3,000...which he'll have to split 60/40 with his "house".

And don't even get me started on the whole "independent contractor" aspect vis-a-vis income taxes.

The bottom line is, you gotta sell a helluva lot more than 6-7 houses a year if you want to make any money.
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That was my share of the split, and it was 18k after the taxes were paid.

I've got two more closes this weekend, and have brought eight new listings to the brokerage in the last week, so I'm doing OK. I've only had my license about 3 weeks and am in the iddle of 5 deals, so it's all good.
 
Big Dick McGee said:
^^Yeah, but he has to split the commission with his "house", probably 60/40, so he'll really pocket around $15,000...before taxes, of course. So he'll have to sell a LOT of very expensive houses to make a comfortable living. I don't really know the RE market in Vermont, but Cali is the most overpriced state, and you can routinely get single homes in the range of half a million. Some of the condos I've been looking at are around $400,000.

Of course, commissions are higher on lower priced homes, but even if you're a fully-licensed broker, you'll be making 6%, tops (unless you're both the buyer and the seller's broker, of course). That means on a $400,000 home you'll work 7 days a week to get it sold, and pocket around $24k. However, it seems our resident garden gnome is a salesman, which means the .75% is about right. That means a sale like the one I described will gross a whopping $3,000...which he'll have to split 60/40 with his "house".

And don't even get me started on the whole "independent contractor" aspect vis-a-vis income taxes.

The bottom line is, you gotta sell a helluva lot more than 6-7 houses a year if you want to make any money.
Click to expand...

That was my share of the split, and it was 18k after the taxes were paid.

I've got two more closes this weekend, and have brought eight new listings to the brokerage in the last week, so I'm doing OK. I've only had my license about 3 weeks and am in the middle of 5 deals, so it's all good.

And clearly you know little about this, since a dual agency is illegal in almost every state. I dont know what brokerages you deal with but the same brokerage being the buyers agent and the sellers agent is unethical, and illegal.
 
And yes I know all about "informed consent", but any brokerage that would do that isn't one I'd be associated with. You have to understand BDM, Stowe has a grand list of 4.3 billion. Property sales for this year alone have been close to a billion. Dual agency is for those who don't know how to network listings, which is why I'm getting into this. i figure I might as well get paid 18k a crack to do what I used to do an hourly wage for.
 
And BDM, a 400,000 dollar home in my market is a "fixemup" I'm in the middle of a 5,000,000 deal and a 2.5 million, my share will be .75 and .90 respectively if I close.

And I'm very close to sealing them.
 
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JELLEY BEAN?
 
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Shit, Jack, that's peanuts for RE commissions. Even up in MT they get 4%. You're not even getting 1%!

I get the feeling you're into a field that is not exactly a real estate agent? Or did you pick a house that excels in screwing you?

In CA the RE agents were getting 6%.
 
jack said:
And BDM, a 400,000 dollar home in my market is a "fixemup" I'm in the middle of a 5,000,000 deal and a 2.5 million, my share will be .75 and .90 respectively if I close.

And I'm very close to sealing them.
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Sayyyyyy, Rabbit. I like you. You're my friend.


Whatcha got in the box there, rabbit?

55-01.jpg
 
Paladin is ask if anyone give fuck about Jack is sell house? Who care? Jack is guy bend over buyer fuck him up asshole to make sale. All world know salesman is bitch of people. Do what told and mebbe get some commission. If not happy with salesman they go fuck off get no money not a cent. Jack is bitch for everyone want buy house he must is bend over many times. Is job for Jack to suck buyer's dry, limp cock hope buyer is purchase home make Jack tiny amount cash.
 
Cranky Bastard said:
Shit, Jack, that's peanuts for RE commissions. Even up in MT they get 4%. You're not even getting 1%!

I get the feeling you're into a field that is not exactly a real estate agent? Or did you pick a house that excels in screwing you?

In CA the RE agents were getting 6%.
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Brokers get 6%. BROKERAGES. Commissions are always negotiable. I could be an "employee"and pay some desk rents and stuff like that and get insurance etc for a larger commission against those expenses, or I can be a SEPS and get a smaller percentage. I have a feeling you know nothing about what I'm doing, yet feel fully qualified to tell me I'm doing it wrong.

I've made almost 4 months salary at 40 hours a week over the last three weeks for a little less than 30 total working hours. Just tell me how I'm getting screwed?

Maybe I should start your board back up for you. Would that ease the pain a little?

Maybe not?

I'll send you a postcard after my first nice vacation off this shitty ripoff money I'm clearly getting screwed for.

MAybe you should stick to educating us on who is a "PROPER" troll or not :)
 
jack said:
Brokers get 6%. BROKERAGES. Commissions are always negotiable. I could be an "employee"and pay some desk rents and stuff like that and get insurance etc for a larger commission against those expenses, or I can be a SEPS and get a smaller percentage. I have a feeling you know nothing about what I'm doing, yet feel fully qualified to tell me I'm doing it wrong.
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Don't be a jackass.

Did I say you were doing anything wrong? Not only that, but I asked if you were doing something different than being an agent. SEPS? I don't know what it is.
 
Self employed private subcontractor. Agency is a little different up here, especially with dual agency specifically being illegal in VT even if both parties agree.

The market here is totally different. Unique actually...close to a 5 billion grandlist within a town of 4400, plus they're building this 200 million expansion on the mountain, should make Vail look, well like a WESTERN ski in ski out :)
 
I just want to make enough money to see what this poolboy shit manners talked endlessly of is really all about.
 
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