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How Is My Realtor Paid?

Like professionals in other sales-based industries, the Realtor pay structure is based largely on commissions derived from successful transactions. Here's how it works:

Seller's agent (or listing agent)
The sellers and their agent agree to a commission percentage, in which the agent’s payment is based on the final sale price. The amount will vary depending on the area and the agent.

Buyer's agent
At the close of the transaction, the seller's agent splits the predetermined commission with the buyer’s agent as compensation for delivering a buyer. This split is usually about half of the total commission.

 

For example, if a listing is listed with a 6% commission, the typical breakdown is 1.5% to the listing broker and 1.5% to the selling broker.  Then 1.5% to each agent.  Most brokers and agents spend a tremendous amount of money on marketing every year.  It takes a lot of money to sell a home.

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Community Updates

"Turn-Over" Thermocline

West Lake Okoboji

Referred to locally as the lake turning over the thermocline is a feature of lakes with deep water. The water on the top of the lake changes temperature much more variably during the year. On West Lake, it can reach as much as 75 degrees in July while the water below, greater than 35 or 40 feet deep is relatively stable around 45 degrees. In the fall and early winter, the top strata of the lake will cool to below 45 degrees, and then because it becomes denser, it will "sink" below the lower strata, thus, displacing it and making the lake "turn-over". In the deepest part of West Lake (near the 136ft mark), no light is availble, and hence little life is known whether fish or plant. Typically questions are raised as to why the surface water gets dirty for a short period of time in the fall, this this is the standard answer.

Haywards Bay in West Lake Okoboji

Haywards Bay

West Lake Okoboji

Haywards Bay on West Lake Okoboji boasts low approaches and one of the few areas on West Lake to offer sand beaches. Renowned for the "bay of the flags", you will know you are in Haywards bay because of the all the American flags on the end of the docks. Fishing is great in Haywards Bay and the sunsets are one in a million. To get to Haywards Bay by car, one would drive the east side of the lake on Lakeshore Dr.

Omaha Beach in West Lake Okoboji

Omaha Beach

West Lake Okoboji

Omaha Beach is on the north end of Echo Bay, extending out into Omaha Point. Known for its secluded private access from Lakeshore Drive, Omaha Beach properties are some of the most sought after on West Lake, easily fetching over $15000 per linear foot of lakeshore.

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