Are builder's required to pay Realtor commissions?
They are not required to, but it is common practice for the builder to pay the buyer's agent 3% of the sales price as a motivation for agents to not ignore new homes when serving their clients. You may think, "but if I cut the agent out of the deal, couldn't I just pocket a 3% discount??" Well, that's pretty shady to do that to someone who is providing you a professional service. But more importantly to a consumer, if you're working with a good agent, they will negotiate on your behalf with the builder which will likely result in even greater savings for you. Often when consumers look at used homes, they assume the price is flexible but that the price is fixed when buying new homes - there is in fact often more flexibility with new construction because builders have significantly varied and different motivations from existing home owners.In no circumstance I have experienced does a residential buyer's agent have a compensation agreement between the buyer'a agent and the buyer. Typically there is only an agency representation agreement which outlines the Civil Code about the agent'a relationship and responsibility to the consumer. Work with as Realtor who is bound by a professional code of ethics - in any peculiar circumstance where there are any fees these you will be made well aware in advance. As stated, custom is for sellers to compensate the buyers agent for bringing the buyer to the table and facilitating 1/2 of the transaction.
What company won the contract to widen the Panama Canal?
If you are referring to the Gaillard Cut widening, a project that began in 1992 and was completed in 2001, there were a number of contractors hired by the Panama Canal Commission and later on, by the Panama Canal Authority, to do all kinds of works, dredging, land removal, explosions, and so on. Among those companies there was CUSA, a Panamanian company. However, most of the work was carried out in house, including supervision of contractors. If you are referring to Canal expansion with a new set of locks, there are no contractors considered yet, as the decision to go ahead with the project has not been made and requires of a national referendum for its approval.
Do real estate agents get any sort of kickbacks or commission from home inspectors for referrals?
I would *never* use a home inspector my real estate agent recommends most of the time. Usually they recommend people who will do an easy inspection…I always select someone who has a background in construction and a specialty in old homes (since I usually buy/renovate them), so that I get a brutally honest look at what I’m dealing with. I’ve passed on deals a few time because of inspectors.To my knowledge my agents never received a kickback from home inspectors…but it is often a relationship where one hand feeds the other.What I have definitely gotten great referrals from my agent on, are services I need after the sale - plumbers, electricians, etc..because once you’ve purchased the home, there’s no incentive for shoddy work or recommendations. They’ve been a wonderful source for this.
What is the actual take-home commission percentage for a real estate agent after all other parties are paid?
Great question and it really depends on the broker and the agent.Brokers generally operate with one of three models, with slight variations or blends:1. Share of commission2. Desk fees3. Transaction feesThe share of commission model usually represents a range of commission splits depending on how much business a particular agent does in a given year. For example, Coldwell Banker (at least when I was there) split commissions anywhere from 50% for new agents or low producers to 15% for the big shots. Additionally, Coldwell Banker corporate took 6% of an agent commission off the top as a transaction fee and the office charged yearly desk fees of around $4k.So, the 3% commission was immediately hit by the 6% CB corporate transaction fee and then the 15 - 50% broker split depending on how much business you were bringing in. On a $500k home, that eats anywhere from $3k to $8k out of an agent's commission.Strategically, the big shot agents are seen more as loss leaders for the broker as the broker will make little per transaction off these guys. Why not? These gents are in high demand so trying to charge them more will result in the agent changing affiliation.How is that profitable for the broker? The reason is that the big shots, with their large market presence and branding, bring in new agents and mid-tier agents that, as a group, close more than the 1-2 big shot agents and the broker can take a larger cut of their commission.Some offices run on a 100% commission split, but with substantial transaction and desk fees as a replacement.
How do real estate referrals work? What is a normal percentage of the total commission a referring agent should expect? What does a referral entail?
A referral, as it applies to a real estate transaction, is when one agent refers a client to another agent in return for a share in the eventual commission earned from closing a home while representing that client.The normal referral fee is 25% of the take home commission of the agent the client was referred to. Referral fees can range from 20% - 35% depending on the agents involved and the likelihood the client will close.In order to successfully complete a referral agreement, you must either be a broker or get your broker to sign off on the referral. It will require both brokers (agents) involved to sign an agreement stating who the client is, how long the referral agreement will last, what types of transactions will be covered and the fee to be received.Some agreements persist for years providing a referral commission for every transaction a client closes with the agent they've been referred to.
What are commissions like for a solar salesman?
Amazing...if you like sales. You can't sell a product you don't believe in. That being said, it all depends who you sell for and how well you sell since the best pay scales are based on 100% commission from door-to-door sales. I'm a manager for New Power and we receive $400 per kilowatt on each home we sell. If the home uses 6.5kW a month (the average size house I sell) then I would be paid $400 x 6.5 = $2600. This is a one time commission, half paid at the time of sale and the other half paid at the time the panels are installed (about a month after the sale). Because of the large gap from sale to install time about 10% of my customers cancel then I am deducted what I already received for that canceled customer. There is also overrides for sales reps that I manage and options for equity in the company. Most larger company's maximum pay is $230/kW so you will have to shop around or have prior sales experience and be ready to recruit and negotiate a good pay.The reason why the pay is so good is because solar companies like this are in direct competition with the local utility company. In another words the customer is still paying a monthly energy bill but at a lower rate (up to 45% less). In exchange for getting solar panels at NO UPFRONT COST with free installation the customer agrees to purchase the power that the solar panels provide for the term of 20years. these solar companies practically have a customer for life once the solar panels are installed on their roof. After 20 years the company will call the current homeowner and try to renew the agreement in exchange for upgrading or replacing the solar panels.The solar market is hot right now because you cannot easily switch a customer who already has solar panels to another company. Once a person has solar panels installed they are staying.
What is a standard/acceptable finders fee for a consultant to pay to a third party for facilitating a consulting contract?
If it’s more than 10%, you would expect a lot of active participation in getting the deal signed. A formal agreement for them to present the deal, close the business, bring the cheque. Typically, I would say 5% for a name and a “go sell these guys, they need you”. I would also limit that finder’s fee to a reasonable time frame if it was an ongoing consultancy. Depending on the project, you’re your own best seller and asset after the project is underway.I will get you a $200,000 contract for 10%? If it’s a certainty and you or I are not doing anything unethical? Sure. Let me show you a commission sales agreement.I will get you “in” at XXX Ltd, but I want 10% of your ongoing revenue? Sure. For the first six months. Let me show you a commission sales agreement.I think the guys at YYY Corp need someone like you, and will recommend they contact you. Sure, I will give you 5% of the project if it’s ethical. If you want to be actively involved, let me show you a commission sales agreement. If not, and we sign the deal? Let me take you to a nice dinner. Really, it’s on me.What you DON’T want to do is wind up having your margin significantly eroded by someone not actively participating in the work. Particularly someone who thought they sold you and will potentially threaten to un-sell you. You don’t need that kind of influence exerted on your behalf. Another pitfall with finders fees? What you CERTAINLY don’t want to do is get fired, or get someone fired for passing bribes or kickbacks on your behalf. That’s never a good thing.
Mike Nifong, Democrat, violated the right of defendants to a fair Trial, so where is the Democrat's outrage?
Where is the media's coverage that Mike Nifong is (or was-I think he is done!) a Democrat? Let a Republican do something half as bad as this Democrat did and the MSM (Main Stream Media) would have been all over the fact that he was a Republican. Boy, they were lapping up his Rape charges of the Duke lacrosse team members. They publicized every accusation as if it was fact proven beyond a doubt. But they sure have been quiet about the fact that the scumbag was a protect your rights Democrat! I have to wonder whether he would have prosecuted a black rapist with anywhere near the vigor, much less the illegal tactics. But, Democrats use their heart instead of the heads and EVERYONE knows that privileged white students are ALWAYS the villians and poor black prostitutes are ALWAYS the victims. What he did was 100 times worse than what Scooter Libby was convicted of doing, but what kind of sentence do reckon he will get?
What percentage can I, as a consultant, charge as a referral fee for bringing new business to a startup? How long can this fee be charged? What if the clients I bring define a vertical category for the startup and help achieve success?
Make sure you do not sell yourself short. Look at the lifetime value of the customer to the client. A one-time $3,000 is worth maybe a couple percent referral, but if that client will bring recurring revenue of say 30k to 100k over 3 years you just brought them 100k in revenue. Also, i prefer outside reps to be focused on Gross Profit(GP) and if they bring in a client with a higher GP they can get an additional amount of commission.Also, I am a big fan of a tiered referral system to encourage lead gen. If you bring 1-X clients, you get 3%, if you bring X-Y you get 5%, and Y-Z you get 10%.