News Report: Referral fees take a bite out of real estate agent commissions17353
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 WGAN ForumFounder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
| Pittsburgh Post-Gazette (28 August 2022) Referral fees take a bite out of real estate agent commissions When home buyers provide their contact information on real estate websites in order to reach an agent, it’s worth more than they may realize. Big players like Zillow and Realtor.com pass that information to real estate agents who have already agreed to pay the referral platform a kickback of between 25% and 38% of the commission they earn. Source: Pittsburgh Post-Gazette Hi All, Interesting read. I encourage you to read the entire article. It may help explain why real estate agents may have less money for marketing (such as virtual tours). Your competition is broader than just other real estate photographers. Your thoughts? Dan |
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 WGAN FanClub Member Queensland, Australia |
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| I am still not getting why sellers have to pay to a buyer's agent. Their services provided to buyers and buyers should have to pay them. Otherwise it seems like another type of parasites milking sellers because they are getting paid with a huge amount. Selling agent commission in Australia is about 2-3% and that all goes to a selling agent. If they are independent it is all theirs, if they are working under agency they split it with their own agency only. If there is any buyer's agent involved a buyer pays them. As for why they do not want tours I do not know. An agent I have made a tour could could sell a property for $500K more and more over seems they have done it at the top price.. it is going about 20% down now. And yet still they are only doing rentals with me and keen to do 3D tours only for something expensive. Extra $500K is extra $12500 in commission(2.5%). Sure extra $12500 is well worth less than $1000 spent on doing a 3D tour. I believe they even paid for the tour themselves. |
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