Newmarket Real Estate Realtor for Busy People™

The Main Purpose of the Payouts


The Real Purpose of the Payouts

Before you get into the details below, It is important to understand the real purpose of The New Way Payouts.

Yes, you can get paid up to $2,000 by me for missing the targets and helping pay for your moving, but that is not really the purpose.

The real purpose of the Payouts is to show you my confidence and commitment in selling your home ON Time and On Price!

You are hiring me to get the job done right. The best results for you is for me to meet all your targets for Time and Price. You still get the Moving Discount of $500 no matter what. Now we are all happy!

So, please don't be concerned about the details below. These details are all laid out for you in writing in a seperate Payout Agreement that we will both sign and agree to at the time I list your home for sale. I will explain them all to you in person and they will make sense to you - that's my job.


Payout Examples


Payout Example 1

House Listed: $410,000

Target Value: $400,000 (note: this is decided in private by us)

Target Date: 30 days from Listing Date

Actual Selling Price: $390,000

Actual Acceptance Date: 5 Days after Target Date (excludes days to firm Agreement)

Price Payout = $1.000 (10% of $10,000 price difference)

Time Payout = $500 (5 Days late @$100/day)

Moving Discount = $500

Total of Above = $2,000

Total Payout = $1,950

Total Payout is capped: at $2,000 or 20% of Gross Listing Commission whichever is less.

Gross Listing Commission = $9,750 (390,000 x 2.5%), so 20% = $1,950

 

Payout Example 2

House Listed: $510,000

Target Value: $510,000 (Note: This may be the same as List Price if you wish)

Target Date:  30 Days from Listing Date

Actual Selling Price: $500,000

Actual Agreement Acceptance Date: 30 days plus 1 week.

Price Payout = $1.000 (10% of $10,000 price difference)

Time Payout = $700 (7 days late @$100/day)

Moving Discount = $500

Total of Above = $2,200

Total Payout = $2,000 (the max payout limit in this case).

Total Payout is capped: at $2,000 or 20% of Gross Listing Commission whichever is less.

Gross Listing Commission = $12,500 ($500,000 x 2.5%). so 20% = $2,500. Therefore the $2,000 maximum payout applies ("the whichever is less" rule).


Request Home Evaluation


If you would like me to have more information about your home prior to our meeting, you may use the form below. Totally optional.

All information you provide is secure and will be kept strictly confidential.

   
First Name: 
Last Name: 
Email: 
Phone: 
Address: 
Postal/Zip Code: 
Year Built: 
Size: 
Bedrooms: 
Bathrooms: 
Half Bathrooms: 
Has Suite: 
Garage: 
 
 
Basement Type: 
Development:
Notes: 
Please describe any special features and recent upgrades.
(e.g. age of carpet & lino, type of kitchen cabinets, property backs park, major renovations in recent years)
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When are you planning to move?
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