The third season of Selling Sunset has recently arrived on Netflix and much like the previous two, we are OBSESSED.
Unsurprisingly, we spent at least one day of the current heatwave in a darkened room in our pants binging the whole series in one sitting, so you might say we’re the experts now.
Christine Quinn and Christian Richard? Won’t last. Davina Portaz? She’ll threaten to quit, but won’t. Oh, and Amanza and Christine will NEVER be friends.
But one thing we weren’t expecting watching the series was to become bona fide real estate experts.
OK, so not exactly, but we’ve done at least SOME research into brokering and real estate to work out exactly how much commission these multi-million dollar sales are bringing home, and while it’s only a fraction of the cost of the property, it’s still pretty big bucks.
According to agent Maya Vander, who recently welcomed her second child, a daughter called Elle Madison, the real estate agents take end up taking home about 1.75% of the commission on sale.
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“Typically the commission on a purchase is 5%,” she said. “The 5% is split into half for the person who represents the seller and the person who brings the buyer, so you end up with 2.5%.
“If I bring the buyer, I get 2.5% of the purchase price, but then Jason will take his cut because he’s the broker and he has the liability.”
Speaking to Metro.co.uk, Maya continued, “Typically for a brokerage, it’s about 70/30 split. I would keep 70% out of the 2.5% and he would take 30%. And then we have to pay taxes.”