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Your Irreplaceable Value: How Real Estate Agents Earn their Commissions
Agent commissions are a hot topic right now, which makes it a perfect opportunity to help consumers understand your value.
Let’s set the record straight. The debates around real estate agent earnings often miss a crucial point: agents don’t “get a paycheck”; they earn every cent.
Every agent we know has a life in relentless pursuit of financial stability. Unlike roles with safety nets and guaranteed paychecks, agents live and breathe entrepreneurship, where success hinges solely performance. Unlike professions with predictable income streams, agents only earn when you successfully close a deal. We want to remind you of your value!
Related reading: How To Show a FSBO That “Saving the Commission” Is a Myth
15 Ways You Prove You Are Worth Your Commission
We know how hard it is to toot your own horn, but that often means you forget your own worth as an agent. We want to share 15 ways that you earn your commission:
- Check the property’s zoning requirements and current use as well as look into the property’s deed restrictions and/or land use code.
- Dip into your own pockets to cover expenses while dedicating your time and resources without assurance of compensation.
- Find and obtain any current mortgage loan information, which could include companies and loan account numbers.
- Find and obtain any current mortgage loan information, which could include companies and loan account numbers and calculate what the average utility usage was from the previous 12-months.
- Prepare and finalize a detailed list of the property’s amenities and assess its market impact.
- Review all the Offer to Purchase contracts that were submitted by a buyer or a buyer’s agent.
- Review, prepare and convey any counteroffers, amendments or acceptance to the buyer’s agent.
- Finalize and deliver copies of the fully signed Offer to Purchase contract to the seller.
- Finalize and deliver copies of the fully signed Offer to Purchase contract to the seller.
- Finalize and deliver copies of the fully signed Offer to Purchase contract to the seller.
- Confirm with loan officer that the loan application is moving forward in a timely manner.
- Work with the seller to identify and recommend trustworthy contractors to perform any required repairs.
- If needed, assist with any title problems, such as boundary disputes or easements, or help with getting death certificates.
- Work with the seller to coordinate the closing with their next purchase and fix any timing issues.
- Update the property listing on MLS to “Sold”, and enter the sale date, the price, the selling broker and the agent’s ID information.
Here’s what we want you to remember:
Your compensation isn’t a mere transactional fee; it’s the yield of your commitment, expertise, and resilience. The reported average income of real estate agents, per the U.S. Bureau of Labor Statistics, at $49,980 annually, which underscores the modest compensation for your relentless efforts in an unpredictable field.
Related reading: Real Estate Agent – Why Use a Real Estate Agent?
So, agents, take a moment to acknowledge your passion and commitment. You’re not just facilitators of deals; you’re deeply invested in making a positive impact on lives. Every time you help a buyer find their dream home or guide a seller to their next chapter, you’re not just closing a transaction — you’re making dreams tangible and crafting enduring memories.
Related reading: How to Communicate Value
Related reading: Inman – Are you worth your commission?
Remember, when clients choose to work with you, they’re partnering with someone dedicated to making a meaningful difference, one home at a time. Your commitment echoes in the connections you create and the dreams you bring to life.
Looking for More?
We’ve given you a list of only 15 things that you do to earn your commission, but we know there are considerably more than that. By our count, its 184! If you want our beautifully designed eGuide “184 Things Real Estate Agents Do to Earn Their Commission”, check out our article here, or go to the Farming, Self-Promotion, and Mailings tab in the POWER Program Classroom and download your copy today!
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