Most people think that we get the entire commission and therefore get rich on even small deals. They have no idea how the commissions are split up and then the costs that are deducted from the small portion that we can retain. Try it on a $30,000 mobile home and see if you would work the weeks and months for that amount. Most would not!
How's that grab you, all of you free market proponents?
Commission based pay. For everyone. The ultimate in free market economics. In essence, put up or shut up.
My suggestion is bred from the frustration all of us who are on a commision based pay structure have with those who aren't. Namely, BANK EMPLOYEES!
You see, we, the commission based agents, have a vested interest in making real estate transactions, ie. short sales, come to fruition. They, the BANK EMPLOYEES, often do not.
We, the commission based agents, care about the clients we are working with and don't want their lives to be put on hold while awaiting approval on HUD-1 statements. They, the BANK EMPLOYEES, do not.
And we, the commission based agents, have to handle the rage, disappointment and threats of canceling deals from our frustrated clients. They, the BANK EMPLOYEES, do not.
So, I propose that our Capitalist, free market system, get a little MORE free market, and let's see if the cavalier, don't give damn attitude type BANK EMPLOYEES survive for more than a week in our world.
My guess is they'd starve.
That's my rant for today.
John Elwell - REALTOR
Bill Nye Realty, Inc.
Licensed in Florida