This is how much commission Owning Manhattan agents get every time they sell a property
'You have to be cut from from a very special, sometimes crazy cloth'
It’s no secret that the Owning Manhattan agents get paid a hefty amount in their real estate job, but in the boss Ryan Serhant‘s words to Tudum, “To sell real estate in Manhattan, you have to be cut from a very social, sometimes crazy cloth,” so it’s not an easy role to do.
Manhattan agents earn between five and six percent on each sale, which is then further divided with their brokerage (often 40-70 percent) and split with the agent who found the buyer or seller. For SERHANT agents, they usually make millions in gross commissions.
However, those amounts must cover staff and brokerage fees. For example, there’s a huge $85 million listing on the SERHANT website right now. Whoever sells that property could make just over five million dollars in one sitting, but obviously it’d be a harder home to sell.
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For example, this property just over $6 million would make the agent around $360K if they sold it, but it can take months to make a sale. Jade Shenker may have only sold six properties, but one of those was worth $7 million, making her $420K in one go.
The typical pay range at SERHANT is between $100K to $183K annually, according to Glassdoor. So while the base pay may not be as impressive, but is still way over average, the amount of commissions the real estate agents are receiving makes it all worth it.
Ryan said in a YouTube video that he sold over $4 billion worth of real estate in two years, meaning he would have made $240 million just on property sales alone. However, he said that the commission “doesn’t go into the tax and marketing fees.”
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