Coos Bay Real Estate

All real estate licenses are not the same. Only real estate licensees who are members of the National Association of REALTORS® are properly called REALTORS®. They proudly display the REALTOR “®” logo on their business card and/or other marketing and sales literature. REALTORS® are committed to treating all parties in a transaction honestly. REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reports that 84% of home buyers would use the same REALTOR® again.

How Does an Agent Get Paid?

Real estate agents or brokers are generally paid through the sales commission paid by the seller when a transaction closes. Agents have expenses and financial obligations just like you, so it will be to your mutual benefit if you choose a real estate agent and stick with that person. The agent will respect your loyalty and respond with a sincere commitment to you.

Seventy (70) percent of real estate transactions in Coos County are co-oped between offices on a 50-50 basis. Each office then splits the commission with the listing or selling agent. If your agent’s company received an out of area referral for the buyer or seller in your transaction the out of area brokerage receives a portion of the commission.

Your agent and their company each have significant overhead expenses before realizing a profit. The average monthly overhead for an agent is between $500-$1500 per month. Overhead expenses for an office ranges from $1400 to $1600 per agent per month.

Overhead expense include: advertising in The World Newspaper, Southern Oregon Real Estate Guide, Coldwell Banker Online; Auto expenses; state forms; client entertainment; telephone/cell phone; postage; MLS and Board of Realtor dues; errors & omission insurance; technology; office rent; clerical and support staff; supplies; utilities; and continuing education.

Important Definitions *

Pre-qualifed ~ A Buyer that is pre-qualified has met with a loan officer and determined a price range they can afford, taking into consideration how much they have for a down payment, their debts and how much a Lender is willing to lend them.

Pre-approved ~ A Buyer's credit, employment information and available funds have been approved by a Lender.

Earnest Money ~ A sign of good faith made at the time a Buyer makes an offer or when an offer is mutually agreed upon by a Buyer and Seller.  The money put down becomes part of the purchase price.  Earnest Money is held in a Client Trust Account and transferred to Escrow.

Title Insurance ~ Protects the person names as the insured (usually the property owner) from defects, liens, encumbrances, adverse claims or any other items not shown or disclosed to a new owner that attach to the property before the date of the policy.

* Additional Real Estate Definitions.