Getting to the bottom of it - Real Estate

Quinny

New member
Oct 29, 2005
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Hi All.

We get conflicting information around commissions for real estate agents in the DR. We simply are interested to see how all are motivated monetarily to make the right decisions in buying and selling and managing property.

Is it true that the "listing agent" receives 2% of the commissions earned. For example if Jose is the listing agent and Juan is the selling agent - Juan sells the property for $100K and makes 3% himself or $3000 that he then gives Jose $60 for listing it. (Sounds quite silly, I know). I was also told that the listing agent gets nada and the full commission goes to the selling agent even if the transaction is between diffrent real estate firms.

Lastly, what is more common in the DR - a property manager that is also your listing agent (real estate agent) or a 3rd party property manager that may or may not sell real estate.

Thanks.
 

Ken

Platinum
Jan 1, 2002
13,884
495
83
There are real estate offices that both sell and manage property and their are people who just manage property, or who manage property in a complex as part of what they do as administrator of the complex. I think across the country you will find all three in use. Is yours a hypothetical question, or do you have a specific property or specific type of property in mind?
 

Quinny

New member
Oct 29, 2005
16
0
0
Thanks, Ken.

We have several properties already and our real estate agent does not manage properties so we enlisted another person who is also a real estate agent to manage our property. The property manager is asking us to switch all of our business to her saying that it is a conflict of interest to deal with two people. We would prefer to do real estate transactions with our current agent yet don't want to go against the grain if that's just not the way things are done in the DR. Do you have an opinion on this?

Thank you.
 

Ken

Platinum
Jan 1, 2002
13,884
495
83
Sure, your property manager is greedy. There is no conflict. You have one person you are apparently very well satisfied with handling your real estate interests and you want some one else to manage those properties. You can't blame your property manager for wanting to put more of your money in his/her pocket, but there is no reason for you to do as requested unless it is something you want to. You might tell the property manager that you are happy with the way thing are, and if he/she feels there is a conflict of interest, you will find another property manager. I believe you will find that half a loaf then looks a whole lot better than nothing.

Where are you located? I'm sure this board can help you find another property manager if need be.
 

Escott

Gold
Jan 14, 2002
7,716
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www.escottinsosua.blogspot.com
I would say the same thing if I wanted all of your business and why wouldn't I?

Question: How can you tell if a Real Estate Person is Lying?











Answer: Their lips are moving...



Finding someone that doesn't lie to better their position is difficult at best.