Estate Agent commission structure

[spacegrey335]

Hi guys

I was wondering how the commission structure works on managed properties for lettings negotiators? Do they get the full commission upfront (i.e just like a let only) for letting out a managed property or do they get the commission on a monthly basis i.e

[james12345]

We once used an agency to fill our first BTL, and the agent took all of their commission for the first 6 or 12 months from the first month's rent.

Then, if the tenants renew, they'll take their next lump of commission from the month's rent when they renew - never heard of a "monthly payment plan".

We tenant find for our properties on our own now.....

[okgo]

spacegrey335 said:

Hi guys

I was wondering how the commission structure works on managed properties for lettings negotiators? Do they get the full commission upfront (i.e just like a let only) for letting out a managed property or do they get the commission on a monthly basis i.e

If you're talking about the individual they will get what they're owes straight away I would say (I used to).

So usually it's something like 10% of the 10% of the annual rent.

[spacegrey335]

cheers for the replies...yes, i was referring to the negotiator's own commission.