Brokerage Relationship & Commissions

The real estate industry is full of rules, regulations, and laws. It can be quite confusing.

 To say the least, how a transaction gets done. It's not something you do often, maybe once or twice in your life.

But it's very important because it’s a big transaction with a lot of your money on the table.

So let my 35 years of owning, selling, buying, building, fixing, and managing try to explain the industry to make it simple.

• "The office, it's just an office name, a name to call it something, any name doesn't matter...
• "A real estate agent, salesperson, a NAR Member, someone that has passed the state-required real estate exam..(one test) that's it.
  
  "A NAR Member can't work. sell, rent, or do anything, unless his NAR Member license is under a "brokers" license. Then they can be in business.
  

So that's how the regulations work...

***Example..

It's Saturday night, Sunday night, "you the seller" and your NAR Member have two offers on your property, trying to come to a contract conclusion, and the Buyers are leaving Monday. So there needs to be some money found, but your NAR Member can't help because he doesn't control the transaction, the BROKER ".

Does and they're not around, and if they were they're probably not going to cut their commissions away, they're a big company with lots of mouths to feed.