ANyone want to pick up the Spears/Federline house?

Now I know why everyone wants to sell real estate in So Cal, on some Vh1 show they were saying it is not hard to crack $1 mil annually....Forgot the name of the show but they followed celebs around as they looked at houses, I think teh agency was called Westside Realty or something like that.

 

Maybe, that's kinda high though IMO. It's usually 3% from what I understand, which works out to $360,000 on this house, just enough for a Maybach

 

There's no way commish is 8%. They would negotiate it down to about 3 or so.

The median real estate agent salary is $33K per year, nationally. I'm sure there are a few of those Beverly Hills agents in excess of $1MM but it is totally the exception when you look at the overall salaries.

http://swz.salary.com/salarywizard/layouthtmls/swzl_compresult_national_SM15000047.html

 

this guy john mcmonigle did over 1 billion in sales last year

he rides around in a maybach


http://www.mcmoniglegroup.com/

 

Sure, $1 billion in Gross real estate, that doesn't necessarily mean thats his net income. I could sell $350 million in 1 day if I was the agent selling Yankee stadium!

 

Really big house in California for $12 million seems to be pretty reasonable.

Its a bit too big for me and the family I have been dreaming. Besides, I'd rather stay here in Illinois.

 

i would imagine he'd ride, i don't think with a billion in sales he'd be driving

 

I don't think anyone is claiming his income is $1 billion, but that's still a phenomenal amount of real estate to move on an annual basis. Assuming he pulled down 3%, he'd still be taking in $30mm a year.

 

They have some really cheap big houses here in IL, one of my friends has a 13,000 sq ft house in Belleville, IL which they made for like 1-2 million I think. By the way, where in Illinois do you live? Can't believe somone here actually has a Ferrari =\ Been here 2 years and saw ZerO.

 

That $1 billion is sales over the span of three years.

 

Ok, thanks for the clarification.

 

maybe i'm just still tired, but i thought the website said they had racked up 900 mil in sales to date this year? as well as a bill over the last 3 years

 

no interior shots since they dont want you to see the meth burns... for me personally id rather build than buy someone elses "dream", that way it can be built to my own personal spec that way you get what you want, its cheaper too no demo involved.

 

He also owns a development company.

 

I'm sure he has to split the commissions with other agents. 1.5% for the selling agent and 1.5% for the buyers agent. That takes him down to $15 million/ year. How will he ever get by? Those are certainly great numbers anyway you cut it.

J

 

No doubt about it.

 

lol, he must be starving.

 

He must be! I'll start up a collection for him! Pass the cup.

 

Seriously though, Im a real estate agent and that guy is my new hero.