Thread: ? about average commissions

TeamGreene-

Ah! Please share your marketing ideas with me as well.

I work with about 4 lenders - I refer them business and they refer business to me. If I am not getting referrals from a lender - I do not send referrals.

I refer business to Insurance Agents and ask that they do the same for me.

I advertise listings on Realtor.com - last year I picked up 3 clients directly from this method of advertising and after thier referrals - about 3 others

I always, from first meeting a client tell a client that thier referrals are greatly appreciated (I know a lot of clients begin asking for referrals at closing - but in my opinion - that is far too late)

I have a leads group of other small business owners in my community - hardwood floors, hair stylist, window washer, roofer, plumber, etc. - we agree to refer business to one another.

I just recently organized a 4th of July parade in my neighborhood - I invited 200 of my neighbors, had a firetruck, prizes for kids (best dressed, best decorated etc. - it was a HIT - I met over 150 of my neighbors and thier friends.

I had many neighbors come up to me and introduce themselves thanking me for the montly newsletters I send - a GREAT way to meet those people I market to every month

We often refer to Central Oregon as poverty with a view... however after reading this post I am thinking we are sitting pretty darn good. I just started my second year as a broker with a great local company and if one of our brokers were making only $30,000 we would be very worried about their ability.

I know that we are in a boom town - regardless - it is not that difficult to close 24 to 36 transactions a year... it does take a lot of hard and consistant work - but isnt that what we love?

Thanks Thesa
Would large of a population do you serve? What is your comm. % range?
What will an agent make at 30 transactions per year?

The area I live in is very rural - the largest city is under 100k people. The area is very different than what most are use to. It is not unusual for you to put 100 miles on your car to show 10 homes. My two largest areas that the most of my commissions come from is a resort area i.e. Sunriver south to La Pine.

The average Sunriver home is about $500k and commissions vary from 2.5 per side (most are split equally) to 3%

In the areas outside of Sunriver the average home sells for about $250k and the commission is the same 2.5 to 3

I have currently brought in 125k in commissions for 2006 through June 30. The company splits here range from 60/40 to 95/5 - most 60/40 offices pay for a lot more than those that pay 95%.

Originally Posted by kensmith

I would consider most agetns part time, but that isn't because they have another job. They just don't put 40 hours into their businesses. $30k actually sounds about correct as most new agents make uder $20k a year and there are more of them than agents that make real money. The worst part is that number is gross, before taxes and other expenses...why would you bother?

I think that most are part-time like he said but if you put that 40 in you will do rather well. the ones who are great and make upwards of 250,000 there third year are imbedded in the real estate pulse they work 80 or more hours a week and enjoy it. they make that 250,000 and then they have to change there game plan leverage there time because there is not enough time in the day for them to work with all the buyers they have calling them. Then its all about quality not quantity. those people also are great to get in with they throw 75,000 to 200,000 buyers your way,... for a percentage.