you’re probably wondering, “How much do real estate agents make?”
If you’re considering starting a new career as a real estate agent,
However, before you begin ordering business cards, you first need to consider a couple of factors.
This article will explain how much real agents make and what other factors to consider.
How Do Real Estate Agents Get Paid?
Real estate agents earn money when they sell a real estate property, such as a house, and receive a commission for it.
On average, a real estate agent commission is five to six percent of the purchase price.
However, some agents are willing to negotiate with clients and offer a discount.
Real estate agents only get paid when a seller transfers their property ownership to the buyer.
When Do Real Estate Agents Get Paid?
If the buyer and seller’s purchase agreement contained a contingency,
the buyer has the right to walk away from the deal. In this case, the real estate agent will not get paid for their efforts.
Another example that can prevent closing on a property is when a lender does not approve a buyer for financing.
Lenders won’t finance a property if the purchase price exceeds the appraiser’s valuation.
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