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Ep201“How Does Your Realtor Get Paid?”
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In a business where paychecks only come from closings with clients who have just bought or sold a house, it’s not uncommon for our clients to wonder where and how we get paid! Today, we discuss all of the intimate details as it pertains to when, where, and how realtors get paid! TALKING POINTS (3-5):
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- Introduction
- Realtors are independent contractors
- Discuss the concept of 1099s
- What does our employing broker give us?
- NOTHING!
- When does a realtor get paid?
- Discuss where the money comes from!
- What does a realtor need to consider when receiving a commission check?
- Paycheck
- Taxes
- Business Account
- What does a typical commission check look for me?
- Don’t forget to subtract out my SEP IRA contribution!
- 50/30/20 rule!
- Final thoughts
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