Does the whole 6% come out of the sale price of the home? Doesn't the buyer pay something?
2007-01-06 06:22:36 · 8 answers · asked by Nancy O 3 in Business & Finance ➔ Renting & Real Estate
The real estate commission is paid from the proceeds of the seller. The only time a buyer pays a commission is when the selling commission split is less than the buyer-agent agreement for compensation. This is very rare. If the seller is FSBO, then the buyer-agent commission would have to be negotiated with the owner. Normally, a buyer should never have to pay a real estate commission.
2007-01-07 03:06:11 · answer #1 · answered by Derrick L 2 · 0⤊ 0⤋
Nornally the person that place the house on the market for sale pays the real estate agent's commission, after all they are the one that hired the real estate agent and all pre-sale agreements.
The real estate commission is negotiatiable.
What ever is left over after paying off any mortgages and liens as well as all closing fees goes to the seller, of which the real estate agent's commission is paid.
The buyer may pay closing cost depending on what he has gotten the seller to agree to pay. Why would the buyer pay into a contract he has not signed and did not agree to at the time the contract was signed.
I hope this has been of some use to you, good luck.
"FIGHT ON"
2007-01-06 06:29:54 · answer #2 · answered by Skip 6 · 0⤊ 0⤋
The brokerage is paid by the seller and is part of the sellers agreement with the listing broker. Technically the buyer pays it as its built into the sales price. Realistically the lender pays it because without a lenders funds nobody gets paid. Confused yet ? lol - Legally it is the seller that pays it.
2007-01-06 06:32:43 · answer #3 · answered by Kevin H 4 · 0⤊ 0⤋
usually the seller, I guess it could be the buyer, but that is not the norm. Yes, it comes out of the sale of the home. There are some "discount brokers" out there, depending on your area that charge less then the 6% or what ever the market for your area holds.
-angela
2007-01-06 12:49:37 · answer #4 · answered by Biancoa 4 · 0⤊ 0⤋
buyer pays nothing.
unless you negotiate it, which is pretty rare in residential.
the real estate agent works for the seller.
remember that.
the seller pays them.
2007-01-06 06:30:22 · answer #5 · answered by Sufi 7 · 0⤊ 0⤋
The Seller
2007-01-06 07:19:39 · answer #6 · answered by Anonymous · 0⤊ 0⤋
finders commission
2017-02-01 14:31:34 · answer #7 · answered by Pauline 1 · 0⤊ 0⤋