Wait, where did my Realtor go?

In the Real Estate business people come and go and move and shake all the time. You may see a Realtor agent at one company and then they are at another, what’s with that?

To begin with Realtors work for themselves, they are independent contractors and are responsible for everything in their business. A Realty company or Broker is the company that you place your license to do business. The brokers companies are as different in what they offer as are the Realtors that work under the company name.

There is every kind of Real Estate Brokerage out there; there are the big franchise companies, such as Century 21, Keller Williams, and REmax etc. Then there are the local smaller brokerage companies found in everyone’s town and city. As a Realtor you make commissions based on what is paid by the seller, in turn, the Realtor keeps the Broker in business by paying certain percentage of their commissions to the company. Many think that the realtor gets a great big commission and will live happily ever after. It is in fact just like a real job except that there is no payday; it is payday after you close a transaction.

Your Realtor probably has gone to a brokerage that is adjusting to the leaner times. Many of the smaller brokerages don’t take a percentage of the commission, but a flat fee. Many also help with the advertising, signs and lock boxes which could take up to half of the income for Realtors. It just all depends upon the current thinking of what your realtor is doing to make his business better for the current market. Support your Realtor!