Description

In this episode, Dave discusses:

• How real estate agents get paid.
• What a listing agreement is and what it does. 
• The Split: how brokerages and agents make money from the real estate transaction. 
• Being a 1099 Contractor as an agent. 

Key Takeaways:

• Agents cannot be paid directly by the seller. They must be compensated by their brokerage. 
• Most traditionally run brokerages take a portion of every single transaction. 
• Zillow isn’t a brokerage, but they market and sell to agents that pay for the leads that they generate. 
• There are a lot of costs that the agents pay, not their brokerage - more than you might think.

"From the outside, it really looks like it's all swimming pools and movie stars, which it’s not. It is 100% commission, with many expenses left for the agent to pay. Agents do not receive anything until an actual transaction is closed, after which they still need to invest in their business." —  Dave Nimick

Connect with Dave Nimick:

Website: https://thenimickteam.com/

Email: dave@thenimickteam.com

YouTube: https://www.youtube.com/channel/UC4WqeMs62CL3T5P-w6ncqbQ/videos

LinkedIn: https://www.linkedin.com/in/davenimick/

Facebook: https://www.facebook.com/thenimickteam

Dave Nimick is owner of The Nimick Team, Inc. with Keller Williams Realty

Show notes by Podcastologist: Chelsea Taylor-Sturkie

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.