When it comes to the commission on probate real estate sales there are several things that you, as real estate agents should be aware of. First and foremost the commission is set by the courts and it's no negotiable. The courts grant a 5% commission on improved real property (single family residences, condos, multi-family, etc) and 10% for unimproved property (vacant land).
We also know that probate properties can be appealing to real estate agents and they would like to purchase them and represent themselves on purchasing the property and receive a commission. However... according to the probate code, the buyer cannot benefit from the sale of the property, thus the buyer cannot receive a commission or even a referral fee.
If you are a real estate agent interested in one of our hot listings, please have someone represent you because if you represent yourself you will not get paid a commission.
For all our listings at the Sanborn Team the commission is split as follows:
2.5% paid to the listing agent
2.5 % paid to the agent representing the successful purchaser in court.
For further information on our hot probate listings please visit our website at http://www.sanbornteam.com/ or call us at 310-777-2858
