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Can A Real Estate Agent Pay You A Commission?
You’ve done a real estate agent a solid. You hooked him/her up with a client.
That agent is going to make a nice chunk of change. You also saved him/her the time, effort, and money of finding a client.
So, you might think that it’d be nice if that agent gave you a little hunk of that chunk.
It’s not an uncommon thought or request. Agents are asked to do this quite a bit.
And each and every time, they say no. It might come across as being greedy, or unappreciative, but it isn’t.
Unfortunately, real estate agents can’t give you any money for finding them a client; they’d lose their license for doing so.
Even if they really wanted to give you some money, and feel you deserve to get a piece of the pie, their hands are tied.
See, as agents we are bound by laws, rules, and regulations.
Appreciation and compensation have to come in other forms…
That doesn’t mean they can’t or won’t do something for you.
Maybe it simply boils down to referring business to you.
Or, perhaps remembering you when they hear about an awesome job opening you would be perfect for.
They might even give you some sort of a gift. (Although, even the monetary amount of a gift can be subject to limits by law.)
Perhaps they’ll take it into consideration when you buy or sell a home through them, and give you a better commission rate.
But here’s something to keep in mind…
Part of the reason so many people feel entitled to ask for money for referring a real estate client is because it appears (to the outsider) that real estate agents make a lot of money on a deal you may send them.
How much they make isn’t as much as it may seem.
While many people see the commissions agents make on a deal as “large”, they usually aren’t in actuality. Sure, sometimes, they can be quite large if it’s a really high end home, but that isn’t the norm.
The overall commission might seem high, but that money gets split up quite a few ways before the agent is left with their “split”.
There are tons of costs to being a real agent you don’t see, know, or think about. Too many to list.
And of course agents have to pay taxes on the money they receive.
Beyond that, most agents don’t do as many deals per year as you may think. Often, agents are closing fewer deals than the public perceives they are. It’s rare for an agent to close a deal or more per week.
“Many deals” is more like one or two per month, and that’s only for some agents. Many agents only do somewhere around 5-6 deals per year. And a heck of a lot of agents don’t even do a deal or two per year.
There’s a lot of competition—a lot of agents—for only so much business to be done.
So, why should you bother with referring someone to a particular agent?
What exactly do you get out of it?!
It really boils down to supporting a real estate agent you trust in. Someone you want to see succeed. Not for your personal gain, but because you know the agent will do the best job possible for the person you are referring.
Most likely, it’s going to be more appreciated than the agent can ever express, or repay to you. But there’s also a good chance that the agent will do something to repay you in whatever way he/she can.
Just don’t get upset, or hold it against an agent, for not agreeing to give you a referral or finder’s fee. It’s entirely beyond his/her control.
Priority Tasks For Your Move In
Moving into a new home is an exciting time, and you're probably daydreaming about decor and paint schemes and new furniture. But before you get into the fun stuff, there are some basics you should cover first.
Change the locks
Even if you're promised that new locks have been installed in your home, you can never be too careful. It's worth the money to have the peace of mind that comes with knowing that no one else has the keys to your home. Changing the locks can be a DIY project, or you can call in a locksmith for a little extra money.
Steam clean the carpets
It's good to get a fresh start with your floors before you start decorating. The previous owners may have had pets, young children, or just some plain old clumsiness. Take the time to steam clean the carpets so that your floors are free of stains and allergens. It's pretty easy and affordable to rent a steam cleaner-your local grocery store may have them available.
Call an exterminator
Prior to move-in, you probably haven't spent enough time in the house to get a view of any pests that may be lurking. Call an exterminator to take care of any mice, insects, and other critters that may be hiding in your home.
Clean out the kitchen
If the previous occupants wanted to skip on some of their cleaning duties when they moved out, the kitchen is where they probably cut corners. Wipe down the inside of cabinets, clean out the refrigerator, clean the oven, and clean in the nooks and crannies underneath the appliances.
Blog Archive - Realty Goddess
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Painting Your Own Home: Tips to Make the Process Painless
Painting Your Own Home: Tips to Make the Process Painless
While it’s might seem easier to hire professionals to paint the house, but with a little research you can find the job is not as intimidating as it seems. With a few free days set aside and some preparation, painting one room (or multiple) is easily doable for anyone. Here are a few things to consider before you start.
Apply a Primer Coat
Preparation entails most of the painting process. It’s easy to become frustrated during the preparation stage, because prepping to paint can take longer than the actual painting component of the project.
Interior walls aren’t always perfect, and painting the walls is a perfect opportunity to fix those imperfections. If you’re using a putty or a filler to patch holes, the paint will react differently to those substances than it will the wall itself. The solution here is to prime your walls, so the new paint color has a uniform surface to adhere to. It’s one simple step that doesn’t seem like much, but could end up saving you a whole lot of work at the end of the process.
Factor in taping time
Taping up the room is tedious work, but will be worth it when you don’t have to waste time being ultra-careful or nervous when getting close to edges. Instead of trying to take the tape off while the paint is still dry, wait at least 24 hours for the paint to dry, and use a knife to slice the tape off at the edge. If the paint is still even a little wet or gummy, don’t continue. Make sure the knife is sharp enough and pull the tape away at a 45-degree angle, making sure not to rip the paint.
Set up with clean-up in mind
To protect floors, a drop cloth is a necessity. In some cases, cotton or canvas drop clothes can work better than plastic. Plastic drop cloths can be slippery and don’t easily stay in place, especially when ladders are involved. Any splatters or drips of paint that fall onto a plastic drop cloth won’t dry or absorb right away and can be easily tracked throughout the rest of your house. A canvas or cotton drop cloth will be more stable and will protect the floors better. Tape the edges of the drop cloth to the tops of the trim to protect both the floor and the trims from any splattering or dripping paint.
Work top down
Not only does it prevent drips from ruining anything you’ve already painted, but it keeps the walls and baseboards free of any dust or debris from sticking to wet trim. Paint the ceiling first, move to the walls and possible crown moldings. Only then should you move to any trims around windows or doors and finish with the baseboards. Not only will this keep a system in place to ensure there’s no questioning what’s been painted and what hasn’t, but it’ll keep things clean.
Check thickness of previous paint layers
Cracks on an exterior paint job don’t reflect the owner’s best intentions and should be fixed before the damage is too much to fix. Too thick of a layer of paint means that the paint might just be too heavy to stay, and will start to crack and to peel off. It loses its grip and can’t attach to the other layers of paint. In older homes, it’s likely that some of those layers of paint have lead in them, in which case you’ll need to look into how to remove it safely. The EPA has guidelines here. This could be the one step that requires you to outsource, if the layer of paint is extremely thick, because removing it completely (and correctly) will ensure the next coat of paint will attach correctly. Hiring a home washing company can help you identify these cracks in exterior paint as well. If anything, have the exterior of your home professionally power washed, so the paint will have a clean surface to adhere to.
Using these tips, ideally the house-painting process will be doable for anyone. Prepare yourself to set aside time for set-up, knowing that it will help when you’re done painting and ready to clean up. Instead of hiring painting professionals, save some money for decorating and tackle the job yourself.
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Bio: Matt Lawler is an Internet marketing specialist from Tempe, Arizona where he attended Arizona State University. Whenever he can step away from the computer, Matt enjoys playing sports, traveling and exploring the great outdoors. Follow him on Twitter.
Laura Key, REALTOR® Cal BRE 01908085 310-866-8422 Laura.A.Key@gmail.com www.KeyCaliforniaHomes.com