Subscribe to Answers
I am not sure. Hourly sounds better.
I pay a salary - and bonus.
If they are not licensed it cannot be a commission....
I had a virtual assistant for some of my deals, and paid by the deal.
Charles, some of it I believe depends on whether your assistant is licensed or not. I prefer an hourly wage, myself. Easier in the end to account for in terms of payroll and taxes, as well.
It depends - what you want from them. If it is simple 'VA' kind of work, hourly is the best. Showing assistants - the same way, however, Buyer's agent - go for split.
(Actually, Red Book of Real Estate has great guidelines.)
I pay by percentage and flat rate, a combination, depending on task. My assistant works evenings and weekends and responds immediately to emails and calls during the day, and I don't know what I would do without her. I don't mind being a little generous for that kind of fanatical support.
We have our assistant on an hourly wage.
That is hard...if you have a rough spot, they may quit and go elsewhere when you need them most...I would do hourly
Depends on what they do. What are the tasks assigned? Sometimes people will rip you off and do nothing for the hourly rate. But, give them a commission and they might work their tails off. You also need to check with wage & hour laws in your state. Do you want to be an employer? Or hire a vendor?
Here is Florida...Wage plus bonus. Can't pay a commission unless they are licensed.
Like most I think the wage plus bonus is the best way to compensate your assistant.
I agree with everyone above, an hourly wage and a bonus on each closed transaction will keep your assistant motivated and interested in a good outcome for every escrow!
I pay mine by the hour. In the past I paid an hourly wage plus a percentage on the closed transactions. This was a licensed assistant though. Now my assistant isn't licensed so the wage works well and she seems content.
I always paid hourly with a bonus.
In NH the key was if they are scheduled or required to complete tasks, they are considered an employee and not an independant contractor. It means payroll taxes, SS nd unemployment insurance.
In Wisconsin...not really sure you COULD pay commission IF the assistant is not licensed....Perhaps bonus payment at some point..I would check with a local real estate attorney for what applies in your state.
I do not have an assistant but I think it is a good idea to pay an hourly wage as well as a bonus.