Becoming a luxury real estate agent is a highly-coveted, niche job. Often times luxury real estate agents end up working with famous athletes, movie stars, and business giants. But, this position is more than just “clout chasing.” In fact, the reason it is so hard to get luxury listings is because the payouts are so high. In some cases, luxury real estate agents only need to make one sale a year to cover most people’s salary. So, in anticipation of the upcoming NFL season and because we are new to Kansas (don’t worry, we know the Chiefs are in Missouri), we are exploring just how much agents would make if they represented the elite in the Kansas City area.
A Look at Kansas Real Estate: Owner of the Kansas City Chiefs
Although the commission-based compensation model has a lot of variance, we are going to be using some standard estimates to approximate how much the real estate agent for each of these multi-millionaires earned. For this post, we are estimating that the purchase agreement for each of these listings designates a 3.5% representation fee for the buyer’s agent and the agent works on an 80%-20% compensation model with their broker. Further, for leases, we are estimating that the leasing agent makes 2% of the gross value of the lease. Let’s have a look to see how much you could have made if you represented these athletes.
Lamar Hunt is the current owner of the Kansas City Chiefs. The Chiefs are based out of Kansas City, Missouri. They compete in the NFL in the American Football Conference (AFC) West Division. The team was founded in 1960 originally as the Dallas Texans by businessman Lamar Hunt. In the spring of 1963, the team relocated to Kansas City where they are to this day. The Chiefs are valued at over $2 billion dollars.
Lamar Hunt found his fame and fortune through the promotion of American football, soccer, and tennis in the United States. He was the principal founder of the American Football League, Major League Soccer, and the co-founder of World Championship Tennis. He was born in El Dorado, Arkansas and grew up with an avid enthusiasm for sports. He “played football” in college but it is probably more accurate to say he was on the team at Southern Methodist University (he rode the bench).
Where is he now and how did he spend his enormous fortune? As the man who came up with the name “Super Bowl” Lamar Hunt is one of football’s most prominent figures. His super estate and vineyard is priced at $19.95 million dollars. Lamar and his wife of 42 years purchased 40 acres in Knights Valley, California. It is right at the top of Napa Valley and is the perfect location to develop a winery—which is exactly what he did. His 6,615-square foot house was built the same year the first block of Cabernet Sauvignon vines were planted in 2002. They named their property, Bidwell Creek Estate and Vineyard, and their wine label, Perfect Season Cabernet Sauvignon.
Total Value Of The House: $19,950,000
Buyer’s Cut: $698, 250
Agent’s Take-Home Pay: $558,600
Patrick Mahomes is the former MVP of the NFL and a superstar. Mahomes plays quarterback for the Chiefs and also has a beautiful estate worth noting. Oddly enough, he grew up playing baseball and was a top prospect coming out of high school. He’s 25 years old now and signed the best contract in NFL history (worth up to $503 million). He’s engaged, became a dad, and broke a touchdown-pass record this year. His 3,759-square-foot home is located in a private upscale community in the Sunset Hills, Kansas City. He lives in a beautiful “mid-century modern marvel.” He purchased this home in 2017 for around $2,000,000.
Total Value Of The House: $2,000,000
Buyer’s Cut: $70,000
Agent’s Take-home Pay: $56,000
Last but not least, let’s talk about Travis Kelce. Travis was born in Westlake, Ohio. He is the younger brother of another NFL player, Jason Kelce. Kelce accepted a scholarship playing at the University of Cincinnati where he joined his brother Jason who was already playing for the Bearcats. Kelce was then drafted by the Kansas City Chiefs in the third round (63rd overall) of the NFL draft in 2013. Travis lives in a lavish luxury high-rise in Kansas City. The rent normally runs around $3,400 a month. It was built in 2015 and located in the upscale Power and Light District. It’s composed of 25 stories and is right in the heart of downtown Kansas City. The location is known to be prime for visiting local restaurants, shops, concert venues, and nightlife. He’s been living here since 2018. The place includes a rooftop pool, full fitness membership, and wrap around balcony. The view from his residence includes the beautiful Kansas City Skyline. This calculation will take a little more into consideration because it is a lease. But, leasing agents still have a lot of skin in the game. For this, we will calculate the lease on a four-year deal.
Monthly Price: $3,400
Gross Value Of the Lease: $163,000
Leasing Agents Pay: $3,264
Well, it looks like there are over half-a-million reasons to represent Lamar. If you’re looking to join the real estate industry after reading about these beautiful estates, check out our Kansas or Missouri Pre-License package. Be sure to check out the Career Corner for more blogs about what it’s like working in real estate.
About the Author
Gabbi knew that real estate was the right career from the start. She is now dual-licensed in both Kentucky and Ohio. She had her first sale within a month of getting licensed and hit her first million in volume within her first 6 months. She will have her real estate license for the rest of her life. Call her anytime if you have questions about becoming a real estate agent. She loves to share her passion for real estate with others!
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