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Greg Knapp

Greg Knapp
Artistic Real Estate Group
MLS 0252063
972-333-4466


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Supreme Lending - Brian Phillips Application

MEET BRIAN PHILLIPS
WITH SUPREME LENDING!

Brian and his team are veterans in the mortgage industry. With over 20 years of experience and well over 1,200 loans completed, Brian has seen it all and is more than prepared for your unique circumstances.

Fill out the application and start the pre-approval process. Once you are pre-approved, you can immediately start going out to see the houses you like! If you have credit problems, DON'T WORRY! Fill it out anyways and we will get you on the path to homeownership.
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FREE 1-HOUR
CREDIT REPAIR CONSULTATION!

Get Started!

Build My Scores - Credit Repair Services

THE CREDIT REPAIR COMPANY
THAT PUTS YOU FIRST!

Build My Scores is a full-service credit consulting service based in Plano, TX. We have helped thousands upon thousands of individuals raise their credit scores, sometimes by 300 points, or more. With the most effective process in the industry, our results are unmatched, coupled with a pricing structure that truly makes working with us affordable.

Commission Distribution

COMMISSION DISTRIBUTION

Real Estate Agents

Nearly nine out of 10 real estate agents work on commission and are paid only when the transaction closes. Except for the legal profession, real estate agents are the only fiduciaries and agents who work this way.

To simplify how commissions are routed, the real estate industry customarily allows all sales commissions to be paid out of the seller's proceeds, according to the terms of the listing agreement.

Brokers

According to licensing law, only licensed brokers can serve as fiduciaries. They have “agents” or licensed salespeople who work for them, but they have the legal responsibilities of operating the brokerage. The salesperson license allows salespeople to serve as agents of the broker. They can negotiate contracts, but the seller is actually negotiating with the broker, by proxy. It’s the broker’s company name and signature on the listing contract.

Distribution

Once the home is listed in the Multiple Listing Service (MLS), the listing broker discloses the terms of the commissions to other competing brokers, so they will bring their buyers to the listing. When the buyer’s broker presents a contract to the seller, it will include a provision to collect their share of the sales commission, as offered by the listing agent in the MLS.

That means a commission can be split as many as four ways:

  • Listing broker or agent
  • Listing salesperson
  • Buyer’s broker or agent
  • Buyer’s salesperson

At closing, the listing agent is paid by the escrow agent out of the seller’s proceeds, or a day or two later when the buyer’s loan is funded by the lender. The listing agent, in turn, pays the buyer’s agent his or her share of the sales commission. All commissions are negotiable, but sellers should keep in mind that commissions are incentives.

972.333.4466

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