An agent in my office asked me to show his client a house. I did, and then helped write an offer on the property. Since then, the original agent has handled the counters and remaining paperwork. He wants to compensate me, but neither of us really have a gauge on what is fair in this situation. Can anybody speak from experience on what they've done in similar situations?
I have seen this go from a couple hundred bucks at closing to a % of the commission.
I would typically think leaning towards the few hundred bucks depending on sales price. It sounds like the client already had a relationship with the other agent. You showed the house and wrote the initial offer, and have nothing else to do in the transaction.
I would figure out what you have invested in the deal time wise & go from there.
Did something similar to this on a $100k property and received $300 at closing plus dinner and a couple of ice cold beers.
If it makes a difference, $312k.
I think $1,000 would be fair.
Agreed. Depending on office custom, the range of $500 - $1,000 would likely be fair.
If it was anybody other than my principal broker that stepped in and helped out, I would be happy to split 10-15% with whoever helped ME - probably more on the generous side since I'm sure somebody will need my help and I would want to be compensated as well, cut can't expect too much just for spending a few hours. If it was your broker that stepped in to help, I would consider that a freebie. He gets paid anyways.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.