MLS Agent Remarks: “$10,000 Agent Selling Bonus!” [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway (“Berkshire”), or any other entity referenced. Edina Realty is a subsidiary of Berkshire.] After seeing virtually no sales incentives offered to Buyers’ agents seemingly for years, I’ve now...Read More
Procuring Cause Paradox One of the more contentious, behind-the-scenes issues that can crop up in residential real estate is, “which agent is entitled to the pay-out commission?” (note: the part of the commission collected by the agent representing the Seller is called the “list-side commission”). In the vast majority of cases, it’s the Buyer’s agent....Read More
Three Questions (“Good,” “Better,” “Best”), or “Highest and Best?” Not Exactly As a Buyer’s agent, doing a good job for a client competing for a home in multiple offers means giving them good advice. In turn, that means knowing “the lay of the land” — at least to the extent that the listing agent is...Read More
Pay More Commission, Net More Money? Yup, That’s the Idea Actually, the blog headline (above) was supposed to be a rhetorical question. But, if you’re dubious, here’s the math: Scenario #1: $300k less 5.5% commission = $283,500 Scenario #2: $310k less 7% commission = $288,300 Difference: almost $5k. “The Way to Bet” Of course,...Read More
If I die and get reincarnated as a Realtor (again), I want to come back as a “luxury home specialist.” I can think of three reasons why: 1. They make 4x what the average Realtor makes (around $200k a year); 2. They have great hours. Or, at least their trade group does: closed for 2(!)...Read More
“Bonus Round” Near Agent’s Fiscal Year-End With the blitzkreig of ads screaming “Deals! Deals! Deals!,” it’s easy to forget that the “black” in “Black Friday” originally referred to retailers’ bottom line, not consumers’. So, at least according to one popular explanation, “Black Friday” was when notoriously low-margin retailers became profitable — “went into the black”...Read More
