Realtors commission on newly built homes
 

What percentage do The Villages realtors receive from the Villages? Is their percentage based on the entire sales price of the home, including added cost for customization?

Terms - The Villages real estate sales agents are licensed by the state of Florida, they are not Realtors which is a National organization designation of which they are not members.

New houses are sold exclusively by The Villages real estate sales agents. In the 7+ years I've owned here and have been reading this and other places, I do not ever recall seeing what the actual amount/% the agents receive but based on the recent lawsuit involving a "rogue" agent, I would guess it's a lot.

It is also typical that the commission is based on the final sales price which is the case of The Villages new construction is not negotiable.

FWIW

Pools are not included in their percentage.

From the "other" site
 

https://www. **************. com/wp-content/uploads/2020/01/POV-sales-contract.pdf

Many of the Villages agents are experienced real estate agents, who were Realtors before working for The Villages. But, they cannot maintain their Realtor status because The Villages is not a member of the National Association of Realtors (NAR), a private organization.

When I was looking village realtors were not sell homes, just lifestyles. There shouldn’t be a commission on lifestyle. The MLS agent I did eventually use was 5%.

Whatever compensation The Villages pays to their agents is decided between The Villages and the agent. I would expect it to vary, based on the skill and experience of the agent. A highly experienced and competent agent is going to demand adequate compensation, or they will work somewhere else. When you buy a house, new or pre-owned, the commission is almost always paid by the seller.

Villages agents are incentivized to sell new homes. One told me of rides on the Morse Air Force private jets, dinners in the developer's private dining room and such. Most of us know that top performing sales people in many businesses get rewarded with trips to resorts, even European tours. Not that Villages agents receive trips to Europe...

The Villages agents get 1% of the sales price. I don’t have any information on upgrades. Aren’t they usually done by the owner after the sale?

The builder offers a lot of upgrades that can be completed before the closing and added to the closing price.

I had 4 ceiling fans installed.

Is that really any of your business? Do you tell people how much you make when they ask?

The BEST ANSWER of the day!

The Villages Real Estate Sale Agent commission schedule was released when the Developer sued the "rogue" agents.

On new homes, the agent gets 1.5% of the net income of sales price (less furniture, pool package, discounts, and closing costs). The % increases for the number of new homes sold by the agent: 1-19 = 1.5%, 20-25 = 1.75%, 26-31 = 2.0%, 32-37 = 2.25%, 38 up = 2.5%.

On resales: 1.5% sellers commission and 1.5% buyers commission, so if agent lists the home and sells the home, agent would get 3.0%. The agents pays a couple of minor fees.

The above is a few years old, so it may have changed.

Those #s most certainly shoot down the claim that they "push new homes", as they can make MORE money on resales...

Ok I am a retired village real estate representative. The commission on new homes is less than you would make if you were an MLS agent selling homes. The difference is village real estate representatives work on volume. So you earn less per home but earn more per year because of volume of homes you sell. As for not being realtors. I was a realtor up north. It has zero to do with licensing and more to do with the status of belonging to an organization and receiving a designation.

I’m sure they earn every penny

I was told by a Villages agent that they are not allowed to be Realtors because The Villages (broker) is not a member of the National Association of Realtors (NAR). And, the only way to be a Realtor is if the broker who you work for is an NAR member. If some Villages agents are Realtors, then they may also be working for another non-Villages broker who is an NAR member.

Well said

Yes, and people saying they push new homes is a myth. My agent didn’t care what we purchased as long as we purchased something He showed us both new and resales.

REALTORS are held to a higher standard with the Code Of Ethics enforced by the State and Nation Board of REALTORS. They can be fined and possibly lose their license if they are found in violation of the Code Of Ethics!

People.................The poster's first post (on the 26th) and has not been back.

Do you think he/she cares???

:oops:

Yes, a licensed agent can lose his or her State license for doing something unethical. That would be done by the State board of licensing. But, it would not have anything to do with being a Realtor, a designation provided by the National Association of Realtors (NAR), which is a private organization that has nothing to do with issuing real estate agent licenses. All agents with a state license are held to the same ethical standards that are established by the state, with regard to holding and maintaining their license.

I was led to believe 1.5% on NEW and 1% on PRE-OWNED. One reason many try to steer a buyer to new homes.

Sure you don’t mean “net sales price”? If it were “net income”, that would mean something considerably lower.

We filed a formal complaint, years ago, that was encouraged by other realtors, we got a letter that complaint was received. several agents, that knew the severe issues, told us there was no action was taken from the board or the person who owned the agency. Not even a slap on the wrist. Realtor is still working, with that so called “Code of Ethics” In TV have witnessed bold lies from Realtors, guess code of ethics has a grey area for some, or maybe they know fines or loss of license is few and far between

Besides, it's a sign of the times. It's "TOP SECRET."

Did you file the complaint with the State of Florida or with the National Association of Realtors?

It is no myth. My first Villages agent steered me to new homes only. He evaded showing me even one resale even after I had made numerous requests. Eventually I moved on to another agent.

Interesting, but I would have moved on after making one request. I don't see how they can stop you from looking at their pre-owned listings.

wrong

What is wrong?

With the state, the association, and the agency realtor worked for. So all bases covered

It was my first time to TV, a five day lifestyle visit. I spent most of my time driving around checking out the turf and meeting Villagers at restaurants and at the squares. It did surprise me that every time I checked in with him he just showed me another spec home. I had done a lot of research and wanted to look at existing homes in four villages near Sumter Landing. Oh well...

Well said!

POV Agents
 

The agents are independent contractors and their commission on new sales is 1.5% Out of that they pay all their own expenses. Tough way to make a living.

Nailing shingles on a roof in 90+ degrees is a tough way to make a living!

Why does it matter? Doesn’t affect the purchase price

Commission
 

It amazes me how many answers you get from people that have no idea what they are talking about. I heard, a friend told me, my neighbor is a realtor (most people have no idea what a realtor is) a real estate agent told me, my cousins aunts brother in laws wife told me, ect.
The fact is it doesn't matter what they get paid, if you are pleased with their service, use them and if not get someone else to find you a home.

Top Villages real estate agents
 

They get a street named after them. Ex...Wilder Path, Sander St, Lazdowski Way etc.

Doesn't have to do with licensing? To obtain a License one usually has to take and pass a test. There are certain rules and laws that need to be followed. I think what people are trying to say is if a Real Estate agent is not licensed that anything goes as far as following common practices and rules.