I have an real estate question and I would like to know if anyone knows the answer. Ok lets say there is a couple The Lemons and they are buying a house and they have an agent named Sally who works for Mary's real estate company they find a house that they like make an offer that is accepted.However the house is being sold by Barry who works for a different real estate company then Mary and Sally work for. I know Barry and Sally would have to split the commission but does Mary get any money since Sally is her employee?
Mary owns the company and will take her brokers fee`s right off the top. And Sally will receive her fair share of what the commission that she has agreed to. And the same goes for Barry.
Most real estate agents are under some type of split structure with the broker of record, in this case Mary. So if Sally makes a $5,000 commission, she'll most likely have to split it with Mary. That's how real estate works.
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