PHOTO: Selling Sunset cast
Selling Sunset season five arrived on Netflix on Friday, bringing Chrishell Stause, Christine Quinn and the other Oppenheim Group agents back to our screens.
While the latest series of the smash hit reality series has focused on Chrishell’s relationship with boss Jason Oppenheim and Christine’s ongoing office feuds, the million-dollar listings continue to flood into the brokerage.
And with their designer wardrobes, soaring fame and their own million dollar homes, it’s clear to see the glam agents are making mega bucks, but just how much money do the Selling Sunset cast take home from each sale?
Earning power: The Selling Sunset cast continue to bring in the million-dollar listings during season five of the Netflix show but how much do they earn?
Surprisingly the agents don’t make a salary from twin brothers Brett and Jason’s brokerage.
Mary Fitzgerald, who was promoted to Vice President during series five, has previously opened up about how the agents make their money.
‘I think the hardest thing in real estate is working for commission only. Spending months sometimes with a client and then they change their minds,’ she explained to The Express.
The percentage of commission the Selling Sunset agents receive varies depending on the property, with Mary explaining: ‘The best part can also be when a client finds something they love immediately and I make a huge commission with very little effort.’
All commission: Mary Fitzgerald, who was promoted to Vice President during series five, has previously opened up about how the agents make their money
‘This unfortunately is not normally the case, but I have double-ended deals represented the buyer as well on my own listing, so this is the best scenario for an agent.’
The agents typically make a 3-5% commission on the sale price of each listing. And the agents aren’t working on a typical $300,000 home, with the houses featured on the show generally selling in the high millions, therefore that 3% means a commission in the thousands.
If an agent sold a property for $5million (£3.9m) the 3% commission would be $150,000 (£118,000).
But as Maya Vander, The Oppenheim Group’s first ever agent, has explained the agent doesn’t actually bank that full commission after bagging a sale.
Boss: Surprisingly the agents don’t make a salary from twin brothers Brett and Jason’s brokerage (Jason pictured with agent Maya Vander)
‘Typically the commission on a purchase is 5%,’ Maya told Metro in a 2020 interview.
‘The 5% is split into half for the person who represents the seller and the person who brings the buyer, so you end up with 2.5%.
‘If I bring the buyer, I get 2.5% of the purchase price, but then Jason will take his cut because he’s the broker and he has the liability.’
Maya continued: ‘Typically for a brokerage, it’s about 70/30 split. I would keep 70% out of the 2.5% and he would take 30%. And then we have to pay taxes. It’s not as big as you think!’
Big money: If Davina Potratz had managed to sell the infamous $75 million (£60million) home featured on season three, she would have made $1.3million (£1million) in commission
Working with those figures, if Davina Potratz had managed to sell the infamous $75 million (£60million) home featured on season three of the hit show, she would have made $1.3million (£1million) in commission and Jason would have banked $562,000 (£452,000) with his broker’s fee, before taxes.
Mary was said to have been the highest earning agent in seasons one to four of the Netflix show, earning an estimated $1.8million in commission from her listings in that time.
But twin brothers Jason and Brett are the real high rollers, with the individual net fortunes of the attorneys turned brokers said to be $50million.
Taking their cut: The agent doesn’t actually bank the full commission after bagging a sale, with Brett and Jason, who are worth $50million each, taking 30% for their broker’s fee
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