Seller Credits…Do Real Estate Agents Get Paid On Sellers Credit? – Bald Brothers Banter
In the world of real estate, seller credits can be a useful tool for buyers who need a little extra financial assistance to close a deal. But for real estate agents, it can be confusing to understand how these credits affect their commission. Luckily, the Bald Brothers Banter, hosted by Aaron Zapata and Todd Anderson, recently addressed this topic in a recent episode.
During the discussion, Aaron and Todd explained that whether or not an agent gets paid on a sellers credit depends on how the credit is structured. If the credit is offered in lieu of a price reduction, then the agent’s commission is calculated based on the net sales price. This means that the commission is based on the agreed-upon price minus the credit.
However, if the credit is offered on top of the sales price, then the commission is based on the higher amount. For example, if the sales price is $300,000 and the seller offers a $5,000 seller credits, the commission would be calculated based on $305,000.
This conversation highlights the importance of clear communication between agents and their clients. It’s crucial for agents to understand how sellers credits work and how they affect their commission. By doing so, agents can ensure that everyone is on the same page and avoid confusion or misunderstandings.