[RICH1]

They make their money on the Turnpike wall Construction

[OhioBuckeye]

Same for us too!!

[Marathon Man]

So many experts. So little time.

[Bonanza]

Originally Posted by frose

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%.

There is no such thing as a "Village Realtor." The Villages salespeople are only agents. The hype is that you are buying a lifestyle but yes -- the agents do get a commission.

If the MLS agent's commission (yes, that person was a Realtor) was a 5% commission, that 5% was split between the selling office and the listing office. The salespeople then got their split from their broker from the 2.5%.

[Bonanza]

Originally Posted by asianthree

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

It sounds like a piece or two of your story is missing. With whom did you file a complaint? That is the key, I think. First, you go to the broker of record of that office. Did you send a copy to the local Assn. of Realtors, the Florida Assn. of Realtors, Florida Dept. of Business and Professional Regulation? You probably missed a step or two. Who sent you the letter you received? How would other Realtors in the office know that no action was taken; it was none of their business???

If the situation was as "severe" as you say, being severe, the Realtor could have lost his/her license. The Realtors Code of Ethics does have teeth and penalties can be fines, suspension, or loss of license. Something is wrong with your version of what happened.

[Bonanza]

Originally Posted by merrymini

Historically, on a 5 or 6 per cent commission, the break is 1/4 to the selling real estate agency, 1/4 to the selling listing realtor, 1/4 to the the buying real estate agency and 1/4 to the buyers realtor. That seems to be similar to the Villages. I have worked with many “realtors” and they can be the dumbest, laziest people around. It depends on the individual real estate agent and not the real estate they are associated with. All have to be licensed by the state and the “realtors” name is pretty meaningless in my experience.

Regardless of the amount of commission, the amount is divided 50/50 between the listing office and the selling office unless a different arrangement was made when the listing was taken. From the 50% to each broker, the Realtor/salesperson gets his/her split from the broker which varies and is strictly between the broker and the Realtor.

There is NO set amount because that is against the Sherman Anti-Trust law!

[Bonanza]

Originally Posted by Ksfirefighter

But the question is who pays the seller?
Answer : The buyer

The buyer absolutely does NOT pay the seller!

The seller receives the proceeds from the sale after the commission and other fees have been deducted from the sale price.

[Bonanza]

Originally Posted by retiredguy123

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.

The Villages would have to be a member of the local Assn. of Realtors in order to be Realtors. They are not members.
If you belong to the local association, you automatically become a member of the Natl. Assn. of Realtors.

Under no circumstances could a Villages agent be both a Realtor and a Villages agent.

[Bonanza]

Originally Posted by TeresaE

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.

Originally Posted by Bogie Shooter

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

What a ridiculous comment! Are you serious?
Are you really comparing a roofer's job to that of a real estate agent?

A Realtor's costs can easily amount to a few thousand dollars a year.
There ain't no free lunch! (That's a figure of speech for wise guys comments!)

[dewilson58]

Originally Posted by Bonanza

What )

Good Morning!!!

Welcome to the conversation.

[ThirdOfFive]

Originally Posted by dewilson58

Good Morning!!!

Welcome to the conversation.

Interesting. Many hairs being split.

I know very little about the ins and outs of real estate buying and selling. But common sense tells me that if A) the shadowy presence known as “the Developer” is building new homes by the bushel, and B) it doesn’t do this”Developer” much good if those homes sit empty for any length of time, then C) of course said “Developer” is going to incentivize sales of the new homes. Pre-owned home sales merely represent transactions on properties ALREADY sold once by the “Developer”.

Seems as if the REAL money is on the new stuff.

[JMintzer]

I'm not sure, but I think that TV sales agents are not realtors...

Apparently, this is a HUGE issue that can make or break a sale.

Can anyone confirm, as I haven't seen anyone post about this before...

[retiredguy123]

Originally Posted by JMintzer

I'm not sure, but I think that TV sales agents are not realtors...

Apparently, this is a HUGE issue that can make or break a sale.

Can anyone confirm, as I haven't seen anyone post about this before...

See Post No. 5.

It depends what you mean by the term "realtor". All Villages salespeople are licensed real estate agents, who are licensed by the State of Florida. They are not "Realtors" with a capital "R" because the Villages has chosen to not join the National Association of Realtors". But, anyone who sells real estate in Florida, whether they are a Realtor or not, must obtain the same license from the state.

[JMintzer]

Originally Posted by retiredguy123

See Post No. 5.

It depends what you mean by the term "realtor". All Villages salespeople are licensed real estate agents, who are licensed by the State of Florida. They are not "Realtors" with a capital "R" because the Villages has chosen to not join the National Association of Realtors". But, anyone who sells real estate in Florida, whether they are a Realtor or not, must obtain the same license from the state.

OH... MY... GOD...

Really? You could not sense the sarcasm, even with the attached gif???

Certain people seem to make it their life's work to continually remind us of this inane factoid...

My comment was directed to them...

[retiredguy123]

Originally Posted by JMintzer

OH... MY... GOD...

Really? You could not sense the sarcasm, even with the attached gif???

Certain people seem to make it their life's work to continually remind us of this inane factoid...

My comment was directed to them...

Sorry, I didn't see the GIF because I am still using the old version of TOTV, like a lot of other posters.

Note, that if you had indicated that there was a GIF, I could have switched to the new version and viewed it.