Multiple Listing Agents
How many agents does it take to sell at $50 or $100 million home? Well, sometimes it takes several. Long ago I noticed that extreme high-end homes in California or New York often had 3 to 6 listing agents with different brokerages and I didn’t understand it. But a few years ago I had dinner with Gary Gold, an LA agent who sold the Playboy Mansion for $100 Million and the Chartwell Estate for $150M. I asked him why each of those properties had 5 or 6 listing agents. He told me that usually these wealthy people know multiple agents and want to use them all. In reality, one or two agents do most of the work and the others just affix their name to it, which really just sounds like any group project that you had to do in school. The commission is not necessarily split equally, but often will be based upon the responsibilities that each agent will handle in the sale. Now we don’t have homes with these prices in Austin, but I wouldn’t mind sharing with other agents if we did.