Agent fee

[eddyod]

I recently found a real estate agent with FazWaz to find a rental unit in a building. The agent has been very good and I was wondering how he gets paid. Is it a percentage of the rent from the owner?

 

Thanks.

[scubascuba3]

they get 1 months rent as commission 

[mstevens]

Several years ago, an agent I once knew received one month's rent as their commission.  I understand that this was a fairly common commission. I also understand that this was one month per year. So if, for example, an agent finds a condo for someone to rent and that person rents it for five years, the agent gets paid a commission each year of the equivalent of one month's rent.

[ChaiyaTH]

One month rent: if agent in company 50% of the 1 month. Or a salary and less in commissions. Topic closed.

[ChaiyaTH]

11 minutes ago, mstevens said:

Several years ago, an agent I once knew received one month's rent as their commission.  I understand that this was a fairly common commission. I also understand that this was one month per year. So if, for example, an agent finds a condo for someone to rent and that person rents it for five years, the agent gets paid a commission each year of the equivalent of one month's rent.

Nonsense. One month done unless year rent paid upfront too.

Edited January 17 by ChaiyaTH

[mstevens]

Just now, ChaiyaTH said:

Nonsense. One month done.

 

I know two agents for whom one month per year was the norm. It may or may not be representative of the wider industry. Each was foreign-owned. Here is one: https://amazingproperties.org/  A quick search for the other and I cannot find a website for.