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I think they do as well, but they don't know all of the work we actually have to do, they only know what they see. If they have ever worked in the industry or know someone close that has, they usually know what we have to do.
Yes, I think most people do. I think the biggest reason for this is that they think the agent keeps 100% of that amt and they don't realize there is 50/50 split w/ buying/selling agent as well as a % going to a brokerage.
Also, they don't think throught the risk/reward. Realtors generally don't get paid until end of transaction (while they need to pay expenses along the way) and if they it doesn't close, they don't make anything.
Most don't get either of these concepts until they are explained.
RVA HomePRO Michael Ho...
Glen Allen, VA
Many consumers have no idea how we get paid. It is upto us to educate them at the initial appointment.
That is true of any professional... lol!
If they think we are over paid they don't understand what we do and the liabilirty we are exposed to when working on a real estate transaction.
Jason~ What say that yes, most consumers believe we are overpaid. #1 because they don't know exactly what we are doing to earn that paycheck and #2 they don't understand our costs.
I think they think we are overpaid when working on their transactions. I don't think they care about others.
Most people have no idea what it takes to run a business.
I think they think it is a lot of money but have had clients say it was worth it and should be more.
We are paid for what we work! Overpaid? No way!
The scammers think that real estate people are rich. The public has us in the same category as used car salespeople. They do not care what we earn. And, the average income for REALTORS is very low.