The real estate industry is a mystery for many people who arenât directly involved with it. But if youâre planning to buy or sell your home, you need to should know these five things about real estate agents. Being more knowledgeable about the job of real estate agents will help you to seek out the best one, understand how they make money, and realize the value they offer to homeowners.
1. They Live on Commissions
Real estate agents only make money when they sell property. They donât get a salary, a stipend, a per diem or an hourly wage. They only make a commission if they are successful in selling a house. That means that every minute they spend working with you to sell your house is unpaid, until it sells.
2. They Have a Boss
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