What charges is a realtor allowed to charge a buyer?
2006-07-03 08:17:01 · 3 answers · asked by Sammi Lynne 2 in Business & Finance ➔ Renting & Real Estate
www.texasrealtors.com
Texas Association of Realtors.
Or call his/her broker or another real estate office and talk with an agent.
Where in Texas?
2006-07-03 08:22:07 · answer #1 · answered by erin7 7 · 0⤊ 0⤋
They're allowed to charge whatever you agree to, plain and simple! It's normally a flat percentage of the sales price.
Normally the real estate agent's commission is paid by the seller. If you have hired a real estate agent as a buyer's agent, they will still get their cut from the sale, paid by the seller. In some jurisdictions, the buyer must pay the agent a nominal fee (typically $50.00 - $100.00) to secure their status as a buyer's agent.
When you close, there will be a pile of other charges on the settlement statement. The only thing that's going to the real estate agent is the sales commission in most cases.
FYI, the term Realtor is copyrighted. It identifies a real estate agent or broker who is a member of the National Board of Realtors. All Realtors are real estate professionals. Not all real estate agents or brokers are Realtors.
2006-07-03 16:00:43 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
I don't know about Texas, but in Utah, the realtor never makes money from the buyer. The realtor only makes money off the commission on the property. Thus, a buyer doesn't pay anything to use a realtor. The seller pays for both agent's commissions out of the purchase price on the house.
If you are curious as to what charges are normal for your state or local, you can contact your state licensing board for realtors. In Utah, the association is called the Utah Association of Realtors. I'm sure there is something similar for each state.
2006-07-03 15:22:00 · answer #3 · answered by techwriterinusa 2 · 0⤊ 0⤋