Charitor

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A charitor is a real estate agent who donates a portion of his or her commission to a charity of the client's choice.[1]

Traditionally, about 20 percent of a charitor's commission goes to charity. This means that with a total commission of 6 percent, about half of that would go to the client's agent. Therefore, if a person buys a 300,000 dollar home, the agent would normally receive 3 percent of the total or 9,000 dollars. But when working with a charitor, the agent agrees to donate 20 percent of their commission equating to a donation of approximately 1800 dollars. The agent retains the additional 7,200 dollars.

Reasoning for agents choosing to become charitors include an enhanced stature in the community, the ability to gain additional clients, and the chance to help the communities in which they work. There is no fee for choosing to become a charitor, only an agreement to donate part of the agents commission.

Some of the reasons clients choose to work with a charitor include the tax deductible donation, an opportunity to help out an organization they care about when it may not otherwise be possible, and the nonexistence of any additional cost outside of the usual real estate sale process.

The word Charitor was trademarked by Realtors for Charity, LLC which is a recently-formed company based out of St. Paul, Minnesota. However, the word is free to be used by any broker or agent who agrees to donate a portion of his or her commission to charity, and follows certain regulatory rules which include agreeing not to raise commission rates to compensate for the lack of revenue.

[edit] References

  1. ^ Charitors.com

[edit] External links