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Offlinehighc
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just sold my first 7 digit house * 5
    #18984861 - 10/16/13 05:23 AM (10 years, 3 months ago)

I'm a real estate broker. Been doing so for 4 years now. All houses I've dealt with have all been under $500,000. Generally $150,000-$200,000. I've more recently been working with personal listers. Just finished a deal on 3.2 million dollar house in Maryland. My cut was almost 90,000 dollars which honestly isn't that great percentage wise but excellent bank account wise. That's almost double what an average broker gets paid all year.


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OfflineSoulidarity
With Your Halo Slippin . . .
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Registered: 07/15/12
Posts: 17,617
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Re: just sold my first 7 digit house [Re: highc]
    #18984864 - 10/16/13 05:25 AM (10 years, 3 months ago)

so its your shout yeah?

also, the tax department are going to love that

dem commission tax rates


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R.I.P. WoodRuss67, Todcasil, TheMerryIguana, The Rompus, Lord Senate.
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Offlinehighc
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Re: just sold my first 7 digit house [Re: Soulidarity]
    #18984892 - 10/16/13 05:42 AM (10 years, 3 months ago)

Quote:

Soulidarity said:
so its your shout yeah?

also, the tax department are going to love that

dem commission tax rates




Yea I'm just mad excited. I can take some time off and par tayy! ..
And oh my goodness I know. I def get slammed in the tax department. Its all good. My best friend graduated from towson as a financial consultant. She hooks me up!


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Invisiblebadchad
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Registered: 03/02/05
Posts: 13,372
Re: just sold my first 7 digit house [Re: highc]
    #18984912 - 10/16/13 05:52 AM (10 years, 3 months ago)

Quote:

highc said:
That's almost double what an average broker gets paid all year.




I'm kinda surprised by this when examining the real estate market in high priced areas.  I thought on average agents made 5-7% of the list price.  Am I way off on that?

I bought a house in MD a few years ago.  Average prices in my neighborhood are 400-500K.  It took my realtor and I about 3 months to find me a place and close.  At 7% of list price, that's about 30k in his pocket.

The thing is, I know he's simultaneously working with 3-5 clients.  So if this guy is closing 3-5 deals every 3 months, that's gotta be 10-12 transactions/year at about 30k per transaction....

Sounds like a sweet deal to me.


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...the whole experience is (and is as) a profound piece of knowledge.  It is an indellible experience; it is forever known.  I have known myself in a way I doubt I would have ever occurred except as it did.

Smith, P.  Bull. Menninger Clinic (1959) 23:20-27; p. 27.

...most subjects find the experience valuable, some find it frightening, and many say that is it uniquely lovely.

Osmond, H.  Annals, NY Acad Science (1957) 66:418-434; p.436


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Offlinehighc
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Re: just sold my first 7 digit house [Re: badchad]
    #18985006 - 10/16/13 06:37 AM (10 years, 3 months ago)

Quote:

badchad said:
Quote:

highc said:
That's almost double what an average broker gets paid all year.




I'm kinda surprised by this when examining the real estate market in high priced areas.  I thought on average agents made 5-7% of the list price.  Am I way off on that?

I bought a house in MD a few years ago.  Average prices in my neighborhood are 400-500K.  It took my realtor and I about 3 months to find me a place and close.  At 7% of list price, that's about 30k in his pocket.

The thing is, I know he's simultaneously working with 3-5 clients.  So if this guy is closing 3-5 deals every 3 months, that's gotta be 10-12 transactions/year at about 30k per transaction....

Sounds like a sweet deal to me.[

Its not to far off. I'm use to a 10% cut. Which gets split with the agent. Usually 60/40. I would agree that a majority of Maryland homes are not that expensive. This particular house was located in a neighborhood called Todd lakes. All multi million dollar homes. Some famous people even live there. Like Christina Applegate. You would be working with a couple people at one time but it can take months to even years to finalize a sale. I would agree with you that I think that number is a little low. That was a study they did. So I don't know the exact variables they use to determine these numbers. They say on average a broker will make about 50,000. But this could be people working with major companies like long and foster or something. I do independent work mostly.


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Invisiblefriskie
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Re: just sold my first 7 digit house [Re: highc]
    #18985018 - 10/16/13 06:44 AM (10 years, 3 months ago)

so your in the big dollar baller club?

lets vacation somewhere exotic.. like gathering for shroomery ballers


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InvisiblezZZz
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Registered: 12/28/07
Posts: 33,478
Re: just sold my first 7 digit house [Re: highc]
    #18985023 - 10/16/13 06:49 AM (10 years, 3 months ago)

well you dont hear that everyday around here. congrats man! :murray:


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Offlinehighc
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Re: just sold my first 7 digit house [Re: friskie]
    #18985058 - 10/16/13 07:12 AM (10 years, 3 months ago)

Quote:

friskie said:
so your in the big dollar baller club?

lets vacation somewhere exotic.. like gathering for shroomery ballers




Well just my first one. I don't have anymore near that price in my inventory at the moment. I'd like a gathering for shroomery ballers lol. That sounds sick!!


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Invisiblefriskie
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Re: just sold my first 7 digit house [Re: highc]
    #18985076 - 10/16/13 07:26 AM (10 years, 3 months ago)

some things in peru sound fun but im game for anything


im totally serious. i made a thread about it last year but didnt get anywhere with it


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Offlinehighc
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Re: just sold my first 7 digit house [Re: friskie]
    #18985097 - 10/16/13 07:38 AM (10 years, 3 months ago)

Damn that's crazy. I would think that would be a good idea. Man going to Peru is on my bucket list. Taking part in an ayahuasca ceremony. I've done aya on my own probably 20 times. But an actual experience like that would be amazing.


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Offlinempd
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Re: just sold my first 7 digit house [Re: friskie]
    #18985099 - 10/16/13 07:39 AM (10 years, 3 months ago)

Yeah!  Right on!  Hard work does pay off eventually.  Congratulations!
:feelsshroomyman:


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There is no truer calling for mankind than that of true conservatism.


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InvisibleNWlight
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Re: just sold my first 7 digit house [Re: mpd]
    #18985154 - 10/16/13 08:06 AM (10 years, 3 months ago)

wow congrats OP!

i bet that house is super nice :shocked:


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:wizard::deemsters:


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OfflineAlmond Flour
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Re: just sold my first 7 digit house [Re: highc]
    #18985199 - 10/16/13 08:29 AM (10 years, 3 months ago)

Congrats bro! :rockon:

Wanna buy my a guitar bro? A Squire Affinity Telecaster in sunburst will be fine


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Hippies and Liberals love Pope Francis, so why dont I quote him for you guys. "There is NO SALVATION outside the Catholic Church" :morningtoke:


Edited by Almond Flour (10/16/13 08:30 AM)


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Offlinempd
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Re: just sold my first 7 digit house [Re: Almond Flour]
    #18985206 - 10/16/13 08:31 AM (10 years, 3 months ago)

As long as you are giving away money, OP...


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There is no truer calling for mankind than that of true conservatism.


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OfflineAlmond Flour
...get off my lawn!
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Re: just sold my first 7 digit house [Re: mpd]
    #18985209 - 10/16/13 08:32 AM (10 years, 3 months ago)

Quote:

mpd said:
As long as you are giving away money, OP...




Stay back you! Me and OP have a bond thats special :morningtoke: My new $350 guitar setup is our bond. Hit me up with a PM brother!


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Hippies and Liberals love Pope Francis, so why dont I quote him for you guys. "There is NO SALVATION outside the Catholic Church" :morningtoke:


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InvisiblezZZz
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Registered: 12/28/07
Posts: 33,478
Re: just sold my first 7 digit house [Re: Almond Flour]
    #18985252 - 10/16/13 08:50 AM (10 years, 3 months ago)

:youseethisshit:  send a couple dollars my way too :awesketch:


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