Mortgage Broker commission?

[Wayne]

One thing I'm certain about is that I can get 0.1% referral fee from my broker, if I introduce customers to my trusted brokers.

I hope you declare that as income - sounds like doing something for reward so income to me.

[PTILoveYou]

I hope you declare that as income - sounds like doing something for reward so income to me.

Well 90% of people I refer to my broker are my close friends, so once I receive that referral fee I give it to my friend.

So there's no income for me.

[Drother]

I also always wonder how much commission real estate agents get....

[Damap]

Commissions are all public record. It is in every listing and most have it on their web sites. The actual agent gets anywhere from 15 to 100% of that commission depending on which company he is working for

[speights boy]

Commissions are all public record. It is in every listing and most have it on their web sites.

That is the standard commission structure.
It is not necessarily what they are paid.
That is quite often negotiated during final negotiations.

[Damap]

Not quite often. Occasionally maybe but he or she just asked what they got paid. They get between 15 and 100% of the fee. And the fess are published. Hardly a controversial or debatable statement.

[speights boy]

And the fess are published.

All I was pointing out is that those published fees are not necessarily the commission that is paid by the vendor.

[Damap]

Right. But most do......

[Drother]

Wow! 15-100% of the fee, pretty decent commission...

[Wayne]

Wow! 15-100% of the fee, pretty decent commission...

that is of the fee - not of the sale price.