middleagerioter t1_j652p2v wrote on January 27, 2023 at 7:41 PM

Reply to comment by davesellsnseattle in I am a Seattle / Tacoma Area real estate broker. AMA by davesellsnseattle

Car salespeople do, in fact, have to be licensed by the state--Not just the dealership, but the salespeople, too.

I also hold several professional state licenses and that just means I have to pay a fee to the state every year after taking an original test on the subject matter.

Marketing is just a gimmick to get people to spend their money over here and not over there. Anyway, real estate agents are overpaid for what they do, IMO.

davesellsnseattle OP t1_j6540ct wrote on January 27, 2023 at 7:49 PM

I'm glad to hear they are licensed in your state. They are not everywhere. One thing is certain, licensed or not, they are not looking out for the buyers interest. They are trying to convince the buyers to buy for the benefit of the salesperson & the dealership, and THAT is far shadier, IMO.

Real Estate Broker are one of the only remaining service providers who try to truly act in the interest of their clients. Attorneys.... that's also their schtick. No one else that I can think of truly advocates?

middleagerioter t1_j654w6c wrote on January 27, 2023 at 7:55 PM

Man, y'all are just trying to get that 6% commission in your pocket!

davesellsnseattle OP t1_j65nc1c wrote on January 27, 2023 at 9:53 PM

Well, I do go to work in exchange for a pay check, just like you do.

A note about the 6% tho: half of that is designated for the buyers broker, the other half for the sellers broker (generally), That means, if I represent the seller, my company gets 3% of the sale price when we are closed.

My cut of that is 64% of that 3%, before I pay taxes OR expenses (like paying for photoshoots, videos, floorplans, virtual tours, flyers, signs marketing specific to the property, and employees.

So, on a $400k sale, my Company makes $12k. Of that I get $7680. Then I pay taxes (35%) leaving $5376 to pay expenses, employees, then finally, myself.

Average Realtor sells about 8 a year. If I'm average in this business, I'm poor.