As I was sitting across from my client buying a home for his family he asked me "how do you get paid?" That is a great question I am suprised more people don't ask.  How is a Realtor paid?

Many consumers are under the false impression that Realtors are salaried by their brokers or companies and commission is on top of that.  The fact is that most Realtors are paid solely by commission - if a home doesn't close, they don't get paid (unless prior arrangements were made with their clients).  Realtors are paid at the time of closing by the seller or landlord an agreed upon sum.  

If I am representing a buyer, in a sellers market,  this means many, many hours of trying to locate them the right property; scheduling showings; running comparative reports on home values and providing area information; negotiaing offers etc for free until an offer is accepted and closed.  This process can take a few weeks or a few months depending on your market area and price range.  For one client it took a few years while they worked on credit and job changes. Until they find a home and it closes - all is for free.

If I'm representing a seller this means meeting with a client to prepare their home for sale, marketing it, setting pricing, explaining market trends, negotiating offers, following up on transactions all for free until the home closes and they have their money in their pocket too.  

Frequently Realtors will get calls or emails seeking advice or input regarding real estate - also for free.

If you put in hours and weeks of work and a buyer changes their mind - all for free.

As I explained to my client yesterday, if I was working for just the money I would get another job with a steady paycheck. However, I enjoy partnering with people to help them achieve their dreams of home ownership, or selling a home to achieve their goals.  It is the people/my clients that keep me in real estate (though with a family and 3 kids in college the commission is very much appreciated!)

I think all Realtors would agree that if after all our hard work you change your mind, a simple "thank you" for our hard work would be appreciated......though a donation to the college fund would be appreciated too  LOL