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Finance: What is commission? 112 Views
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Description:
What is commission? Commission is incentive based compensation earned by facilitators based on a percentage of the dollar value of the transaction(s) they close. Real estate brokers, sales agents, entertainment industry managers, marketing reps, stockbrokers, and consultants are all professions that earn their money through performance based commissions instead of contractual salary.
- Social Studies / Finance
- Finance / Financial Responsibility
- Life Skills / Personal Finance
- Finance / Finance Definitions
- Life Skills / Finance Definitions
- Finance / Personal Finance
- Courses / Finance Concepts
- Subjects / Finance and Economics
- Finance and Economics / Terms and Concepts
- Terms and Concepts / Accounting
- Terms and Concepts / Banking
- Terms and Concepts / Bonds
- Terms and Concepts / Company Management
- Terms and Concepts / Incorporation
- Terms and Concepts / Insurance
- Terms and Concepts / Investing
- Terms and Concepts / Managed Funds
- Terms and Concepts / Marketing
- Terms and Concepts / Metrics
- Terms and Concepts / Mutual Funds
- Terms and Concepts / Real Estate
- Terms and Concepts / Regulations
- Terms and Concepts / Retirement
- Terms and Concepts / Stocks
- Terms and Concepts / Tax
- Terms and Concepts / Trading
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- Terms and Concepts / Wealth
- College and Career / Personal Finance
Transcript
- 00:00
finance a la shmoop. what is commission? well it's the greatest motivator for
- 00:08
salespeople in the world. it's the money some people make above and beyond their [ commission explained on a large screen]
- 00:13
salary. a little monetary carrot dangling out in front of a salesperson to you
- 00:18
know encourage them to sell sell sell. alright you're an agent who just sold a
- 00:22
house good for you. you get a 3% Commission. the house went for a million
Full Transcript
- 00:27
bucks well you get 30 grand for the privilege or at least your brokerage
- 00:30
does, and then you get some piece of that. ok now you're the stock broker who sold
- 00:34
3 million shares of stock. well good for you
- 00:37
you get four cents a share in Commission 120 grand in the pocket of your
- 00:41
brokerage and you get some piece of that Commission. you're the Hollywood agent[equation]
- 00:45
who just inked Brad pitiful into a movie deal worth 20 million bucks, well good
- 00:49
for you your agency gets a 10% commission or two
- 00:53
million dollars. yeah that's for a Dewey Cheatham and Howe agency best one in
- 00:57
Hollywood. yeah they rep Harvey Weinstein. now for someone who's attempting to sell
- 01:02
a polished version of that Harvey Weinstein story well that's a commission
- 01:07
impossible. [man frowns]
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