How Do Real Estate Agents Get Paid?

Do you know how and when real estate agents get paid?

To me it is obvious, but some folks don’t realize real estate agents only get paid when a transaction is closed.

As a real estate agent, your time and services are provided in advance. Once a transaction is closed the brokerage fees are paid to the brokerage who then pays the agent after they have taken their portion.

Now as an independent contractor once you get paid you need to set aside, what?, 30% for your state and Uncle Sam.

With the monies left over, after the broker and income taxes, most agents then will need to pay off debt for things like photography, videos, advertising, and the million other things small business owners need to pay for.

You know, the biggest mistake new agents make is spending all their commissions right away without saving for their quarterly and annual income taxes.

The not so glamorous side of being a real estate agent.
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Matt Cheney
Washington Fine Properties
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