closing cost?
2006-11-18 16:23:05 · 8 answers · asked by beach_babe971 1 in Business & Finance ➔ Renting & Real Estate
if my house is 500,000 then the seller agent gets 25,000 is its 5% just to sell my house?
2006-11-18 16:27:30 · update #1
She gets a percentage from the total sale not unless she has 2 share with another broker.Yes she gets her check at the closing here's an example my house sold for 108,000.00 my realtor got a check for $12,000.00 the mortage lady got a check for $20,000.00 so you tell me lol.I'd like their jobs
2006-11-18 16:31:50 · answer #1 · answered by sugarbdp1 6 · 0⤊ 0⤋
The fee is whatever amount you agreed to when you listed your house with the agent. That total fee is then split between the agency that listed your house and the agency that brought the buyer to the table. Usually the fee is split 50-50 between the two agencies but sometimes it is a different split. The agency and the agent then split their portion on each side....The fee pays the agent for all the time they spent and work they did to sell your house. There is paperwork, advertising, etc. as well....there is a lot of behind the scenes work not to mention the overhead that agents have to be in business. The agent is protecting your interests and protecting you from legal action etc. The fee is coming out of the proceeds of the sale and is based on what your home sells for....it is not the same as closing costs...closing costs are paid by the buyer to the mortgage lender for processing the loan, insurance, title search etc. Let the professional do the job and make sure they get paid....
2006-11-19 00:34:49 · answer #2 · answered by Anonymous · 0⤊ 0⤋
They take 5 to 6 % of what they sell your house for.
2006-11-19 00:27:54 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Ultimately, the buyer pays the commission by purchasing the home for a price you agree to, considering commissions will be deducted. That commission then is typically split between the buying and selling brokerages, and then between the actual agent and their brokerage, who may deduct for advertising, transaction coordinators, insurance...and the cost of doing business.
2006-11-19 04:55:09 · answer #4 · answered by bklance 1 · 0⤊ 0⤋
The sales price.
There are lots of items in the final closing cost, such as lawyers fees, title search, etc., and the agent does not get a percentage of these.
2006-11-19 00:28:08 · answer #5 · answered by fcas80 7 · 0⤊ 0⤋
Selling price.
2006-11-19 00:53:12 · answer #6 · answered by Anonymous · 0⤊ 0⤋
She gets pay a percentage when the house sells and what you argree to hopes it helps
2006-11-19 14:23:29 · answer #7 · answered by pattibcacl 6 · 0⤊ 0⤋
the commission is based on the actual selling price
2006-11-19 00:24:28 · answer #8 · answered by ErasmusBDragen 4 · 0⤊ 0⤋