Lake Greenwood, SC and Greenwood Area Homes & Land

Contact Information
Kristen Andersen,
Broker In Charge, CRS, ABR, E-Pro

TLC Real Estate
310-I Calhoun Ave., SC 29649
Office: 864-330-5626
(M): 864-494-8815

HOW AGENTS GET PAID

When a Seller puts their property on the market and hires a real estate agency, they
agree to pay a certain commission, based on the final sale price– typically anywhere
from 5-10%, depending on the property, the type of marketing most appropriately
needed, and office policy. That compensation is not due until the property is SOLD
nd usually comes from the Seller's proceeds. Meanwhile, when that agency posts
the listing information on the MLS (Multiple Listing Service), they agree to share a
specific % of that total compensation, upon closing, with any other member agency
ho brings the qualified buyer to the table. TLC Real Estate firmly believes that a
fair & equitable 50/50 split with the Buyer Agency is the best approach to
encourage Agents to bring their buyers to TLC listings. So, essentially– both
agencies and therefore both agents' paychecks are paid out of the Seller's proceeds.
There are occasional circumstances where the Buyer agrees in writing to be responsible
or part or all of a specified commission– such as in the case of a low commission
offered by a Listing Agency or a For Sale By Owner, but in the majority of transactions,
including FSBOs, the Seller pays the commission. 

How does it break down from there?

SAMPLE COMMISSION FEE STRUCTURE
Sample 6% on a Residential House w/ a 50/50 Split

LISTING AGENCY: On a sample 6% commission,
will earn 3% on listing side w/ sale. 
Offers 3% to Buyers Agency, stated in MLS.

SERVICES: ALL MARKETING, property prep consultation, showing 
coordination & follow-up, negotiations, 
inspection/repair/appraisal process,
transactional services to closing.

Upon closing, Agent takes check for 3% of sale price to Broker.
If a Franchise, a % is subtracted for a Franchise fee (for access to
national resources/branding). Broker splits remainder w/ Agent on
pre-determined split & cuts Agent a pre-tax paycheck.

Listing Agent Finally Gets a Pre-tax Paycheck minus ongoing time and
ffort incl. pre-listing CMA research, interviews, listing prep and meetings, 
marketing 
prep & implementation, client communications, ongoing marketing 
time & financial investment, inspection/repair/appraisal/coordination,
transactional services & sole proprietor expenses, gas, supplies, insurance,
license fees, MLS & key fees, equipment, communication costs, general
business marketing, overhead etc...+ 
income tax.

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BUYER'S AGENCY: On a sample 6% commission,
will receive 3% upon successful closing, as stated in MLS.

SERVICES: Buyer qualification, property research, tour routing
& scheduling, home showings, negotiations, inspection/repair/appraisal
process, transactional 
services to closing.

Upon closing, Agent takes check for 3% of sale price
to Broker. If a Franchise, a % is subtracted for a Franchise fee (for access
to national resources/branding). 
Broker splits remainder w/Agent on
pre-determined split & cuts Agent a pre-tax paycheck.

Buyer Agents Finally Gets A Pre-tax Paycheck minus ongoing time 
and effort qualifying & working with buyers, client communications, 
inspection/repair/appraisal coordination, transactional services & sole
roprietor expenses, gas, supplies, insurance, license fees, MLS &
key fees, equipment, communication costs, general business marketing,
overhead etc...+ 
income tax.