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Thread: agent commission

  1. #1
    Join Date
    Feb 2012
    Posts
    628

    Default agent commission

    Hi, if the agent commission is 1% of the property price of $1m = $10k, how much does the company (eg. ERA, Huttons) takes a cut and how much balance is agent gets to keep?

  2. #2
    Join Date
    Feb 2009
    Posts
    5,837

    Default

    Quote Originally Posted by Ilikeu View Post
    Hi, if the agent commission is 1% of the property price of $1m = $10k, how much does the company (eg. ERA, Huttons) takes a cut and how much balance is agent gets to keep?

    from my understanding, different agency has different policies.

    most agency takes 20% ( for new agents), 15%( for mid level agents) 10% (maybe as low of 5% ?) ( for senior agents)

    there is one agency that takes 50% of the comm... i shall reveal which...

    becos of this 50% cut, the agents from this particular agency ( lets call it A), normally do not co broke with other agents.

    that is to say, if they have the listings, they would try to close the deal within themselves and NOT with another agents from another agency.
    They do not turn other agents away but subtly give excuses like 'not available for viewing" etc to turn cobroke agents away.

    If they do not have the listings, they then would cobroke with agents from other agencies.... BUT after 'viewing', they would go behind the back of the cobroke agents and tries to go directly with the owners/clients..cutting out the cobroke agents.

    as a word of cautions,... if you engage the service of this agency A, if you are the seller/landlord ... you get LESS opportunities cos they only show your property internally....

    if you are a buyer/tenants then ok ... but you will piss off the cobroke agent cos your agent from A would try to go to the seller/landlord directly to close your deal .... cutting off the cobroke agent ...

  3. #3
    Join Date
    Sep 2014
    Posts
    299

    Default

    Usually 10% cut from company which means agent only bring back $9k.
    So if agent has to cobroke, you just have to divide by 2 and each get 4.5k from this transaction.

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