Paying my power team

Your power team members are most often paid as a property is purchased. This payment is made at closing. So when documents are signed your power team makes money. The exception would be the Lawyer. If you have them do anything independently outside of closing you will need to pay them based on the fee they set up for you.

Realtors get paid by the seller of property you or the person you assign the property to purchased the property.

If you are doing assignments of contract, as many of us are, you will not pay the power team because your new buyer will take care of this when they buy if the seller has not paid them.

In most cases you will pay the power team members for the specific work they do on a transaction. Closing agents have set standard fees for the work they do. You should be able to get them to itemize their fees before a deal is done so you will know what to expect. Attorneys ususally work by the hour or on a pre-paid/ retainer basis. Mortgage brokers get paid for the work they do but it is sometimes hard to know what they are paid as there are various fees associated with any loan. Appraisers charge a set fee for doing an appraisal on residential property. Commercial appraisals are usually much more expensive than residential due to the amount of analysis involved in a commercial appraisal. With the exception of the attorney, all those people mentioned above are paid at closing by the closing agent from the proceeds of the sale of the property.
Please shop around to see what the various venders charge for their services in your area. It is also a good idea to periodically shop around to be sure the vendors you use are staying competitive.