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
O'Farrell Sisters
The O'Farrell Sister is a historic Okoboji Tradition that one must check out for breakfast and lunch!
'Farrell Sisters History
The O'Farrell Sisters restaurant was born in 1949 at the bridge on Hwy 71, between East and West Lake Okoboji. Edna Mae and Arlene O'Farrell bought the business from Ike Kissinger who was running for Sheriff of Dickinson County.
In the early years the girls were open seven days a week and had a booming business in no time. The fried chicken dinners on Sunday evenings were especially popular. There were times when the line waiting to get in was so long they'd have to lock the door and would often run out of chicken!
In 1959 Arlene married and moved to Tallahassee, Florida with her husband Furman Henderson. Edna Mae and Ferne continued in the restaurant, moving to its present location that same year. This spot had a garden and chicken coup, which was moved to the house across the street.
Ferne died in 1974 and Edna Mae in 1978. Arlene sold the business to nieces Joyce Gapinski, Jo Ann Anderson, Charlotte Sarvie and Cheri Petersen (these are married names). The nieces successfully ran the restaurant from 1979 through 2003. After losing Jo Ann in 1997 and Cheri in 2002, Joyce and Charlotte decided to sell after the 2003 season.
The rest is to be continued...
Big Acai Bowls Okoboji
For Okoboji's superfood Big Acai Bowl Okoboji, located in the Central Emporium is a perfect spot for a healthy breakfast or a snack. Acai (pronounced ah-sah-hee) is a berry extract from acai palm tree found in the rainforests of Central and South America. The acai berries have a slightly sweet favor often compared too blueberries paired with very dark chocolate. This is a must stop for a healthy treat for the whole family that has many health benefits including healthy fats, fiber, magnesium, calcium with very low natural sugar. This natural food is a must try!
Miller's Bay
Miller's Bay, on the west side of West Lake is a popular spot for boaters in the summer to just go chill out, throw an anchor, and relax. On the weekends, this bay is filled with boats tied up to each other offering families the opportunity to have the kids swim, or you might find a bunch of party animals chugging beers and enjoying the summer sun. Either way, everyone is having a great time, and so if you are out and about, just know that Millers Bay is where boaters go in the summer to be where the party is at.
