From the course: Real Estate: Navigating the Multiple Listing Service (MLS)
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Compensating your field agents
From the course: Real Estate: Navigating the Multiple Listing Service (MLS)
Compensating your field agents
- [Presenter] Field agents can play a valuable role in your real estate investing business. So let's talk about how to pay them for their service. Never pay agents directly. Agents can be fined for accepting money outside of a real estate transaction. Sign a representation agreement with the agent and their broker, then pay the broker who the agent works for. All real estate commissions are negotiable, so negotiate with your agents, field agents and listing agents, to come up with a win-win percentage that will keep your profits up, while keeping your agents willing to work with you over the longterm. Good agents will be excellent additions to your team. You can find alternate ways of compensating your field agents by referring retail leads you get from your marketing, or by allowing them to list or co-list your completed rehab properties. Whatever the cost of paying your agents, make sure you account for the…
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