then which agent gets paid, and what do they get paid?
2007-02-09 22:30:55 · 11 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Real estate agents usually get 7% of the total amount of the house, that is a rough estimate. My realtor told me if he lists a house and sells it he gets the full commission but if he goes to a house listed by another realtor and sells it he gets 50%.. 3.5% of the price that the house sells for.. which for the prices of some houses nowadays is pretty darn good money.
2007-02-09 22:34:52 · answer #1 · answered by Tapestry6 7 · 0⤊ 2⤋
In our market, Atlanta, the seller negotiates the fees with the selling agent at the time of listing. While it is used to be common to allow the buyer's agent 3.5%, 3% is now more common and 2.5% or less is possible. The seller's agent can take as much as 3.5%, but most negotiate down to 2% or less. Based on those negotiations, the property can be listed with anywhere from 3% to 7% commission. The more you offer the buyer's agent, the more likely your home will be shown and sold. Some sellers also offer a premium on top of that to the buyer's agent, such as a BMW lease or $3000. (Haven't seen this here, but know if it in other states.) I'm not sure how or the legalities, but it's being done.
2007-02-10 00:41:37 · answer #2 · answered by CJKatl 4 · 0⤊ 0⤋
It all depends in what one company pays the other one from the commission they receive from your sale. Sometimes it is nothing and the buyer pays his own agent. It will be stated in your MLS listing somewhere (maybe under a code) if the selling office offers a percentage to the buyer agent.
I have seen a selling office offer nothing, less than half and half. A smart selling office won't play games, that encourages buyer agents to help sell your property. Ask your agent what his company does. Good Luck!
2007-02-09 22:56:59 · answer #3 · answered by Barbara 5 · 1⤊ 0⤋
well...far as I know.. Once a house is under an agent. Another agent can not get paid for selling the house. Now for Example. Say your Agent is with RE-Max. Someone calls RE-Max and says ..hey I want this house. they will Direct the buyer to the agent in charge of your house. They will not be able to do that through another agency unless there is something I'm unaware of. But I'm not a real estate agent either. So I could be wrong.
2007-02-09 22:35:17 · answer #4 · answered by Anonymous · 0⤊ 3⤋
The seller agrees to pay a commision. That commision is split between sellers and buyers agents and their respective company. It will show up on the closing statement and come out of your part of the proceeds. If you agreed to 6% then it usually is a 3% 3% split.
2007-02-10 01:01:54 · answer #5 · answered by zocko 5 · 0⤊ 0⤋
You have alrewady agreed to a commission when you signed the contract. The seller's agent splits that with the buyer agent
2007-02-10 01:03:00 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Not really ethical, but it is done. You'll have to understand that the agent is going to represent the seller's interests, not yours. With that in mind, don't expect to get a good price or big discount unless the seller agrees to your offer.
2016-03-29 00:43:05 · answer #7 · answered by ? 4 · 0⤊ 0⤋
They both make a fee. Split, Usually 6% of sale price.
2007-02-09 22:35:59 · answer #8 · answered by Anonymous · 2⤊ 2⤋
both the agent gets benefit they get comission as percentagewise from both and divide among themselves
2007-02-09 22:36:36 · answer #9 · answered by sabarish p 1 · 1⤊ 1⤋
They split whatever was negotiated when you went into contract with them. If it was 4%, each one gets 2%.
2007-02-09 22:33:33 · answer #10 · answered by davelibby321 4 · 1⤊ 2⤋