The Everything Guide For Anyone Who Wants To Know What Realtors® Do To Earn Their Commission

The Everything Guide For Anyone Who Wants To Know What Realtors® Do To Earn Their Commission

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One of the most important considerations while going through the home buying or selling process is whether you’ll use a real estate agent. Although at first glance it may seem like a real estate agent is just an extra expense for completing a real estate transaction, high-performing Realtors® work behind the scenes to complete transfer of ownership with as few problems as possible, avoiding all the common (and not so common) pitfalls.

Maybe that’s the issue. A good real estate agents make it look so easy. Whether it’s their many years of experience, extensive local knowledge, outgoing personality, or detailed process and checklists, the good agents bring a sense of calm and clarity to the closing table.

So let’s demystify the real estate agent’s job, and look at what exactly a real estate agent is responsible for before earning their commission.  This helpful article will teach you the job challenges, and difficulties Realtors® face to help you sell your current property or purchase your dream home.

Buying or selling a home is a complicated matter which takes many steps to complete. But the truth is that Realtors® start their work before ever meeting with the customer. They participate in networking events, social gatherings, and other forms of professional marketing, they study the market and the current inventory in their local market, and they must take many hours of training and education.

Full-time real estate agents need lots of energy, excellent organization, and must know how to manage stress. That’s because they have many goals to accomplish in order to become a successful real estate salesperson.

Common Tasks & Responsibilities Performed By An Agent

    Coordinating and scheduling property showings

    Giving buyer and seller (listing) presentations

    Keeping up with current property laws and continuing education courses

    Ensuring earnest money is funded and delivered on schedule

    Scheduling property inspections for home buyers

    Checking in with mortgage companies

    Verifying homeowner’s insurance for new buyers

    Negotiating sales conditions, repairs, and counteroffers

    Scheduling and attending closings

    Getting disclosures signed and delivered

    Explaining and providing education materials

    Maintaining a blog and social media profiles

    Managing online reputation

    Being available via the phone throughout much of the day

    Returning phone calls and emails quickly

    Following up with customer inquiries

    Locating and presenting comparable properties for home buyers and sellers

    Selecting the right price to sell a home

    Scheduling appraisers and inspectors at properties

    Getting clients to sign contracts and sending paperwork to title companies

    Ensuring clear title of property

    Explaining offers and contracts to clients

    Updating home buyers and sellers of each step of the process

    Coordinating and organizing open houses

    Staying at the top of mind with previous clients

    Entering and update listing information in MLS

    Working with vendors and companies to prepare home for new owners

    Determining fair market prices and disputing low appraisals

    Ensuring that loan mortgage funding goes through

    Maintaining a good work & life balance

In addition to having a lot to coordinate to help people buy and sell real estate, Realtors® also incur many expenses on the job. Although the average commission check might seem as if agents get rich quick from their clients, the truth is that a good portion of an agent’s income goes to operating their business. Here are some expenses that real estate agents pay regularly.

Common Expenses Real Estate Agents Pay

    “Desk fees” and broker fees

    MLS and NAR fees

    Errors and omissions insurance

    Auto insurance

    State and federal self-employment taxes

    Real estate salesperson licensing fees

    Online and traditional advertising fees

    Centralized showing service fees

    Website and online profile fees

    Assistant salaries

    Yard signs, property flyers, photos, videos, and other marketing fees

    Office supplies and material fees

Why Do Some People Believe Realtors® Aren’t Worth the Cost?

In real estate, just like in any other industry, there are people who assume they can make money for little work. The reality is that 80% of new Realtors® will fail. The 20% that succeed understand the difficulties and challenges of building a real estate business and maintaining relationships. Sometimes, clients interact with the 80% of real estate agents whose business will not be around for another year and have a negative experience. Alternatively, people who have a positive experience with a real estate agent might not understand all the hard work that made the property transaction stress-free and successful.

Whether you’re getting ready to sell property, or find the perfect home for your family in Durant, OK, I would love to help! As an agent, I enjoy building relationships and making the home buying and selling process simple for my clients. So, what are you waiting for?  Give me a call or send me an email today, and I’ll make your real estate transaction stress free!

Brian A. Allen is a Realtor© that is full of energy, excitement and zeal for every sale.  He spent most of his career in marketing and now applies that skill set to the homes his clients want to sell.  Click here to learn more about Brian A. Allen

Stay up to date on videos and more here: bit.ly/BAVideos Call Brian Allen with Campbell Real Estate Group for more information (580) 238-1404

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Brian Allen

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