If a home is listed with a real estate agency, can its agent also charge me a buyers fee.?

Answer 1

I'm a licensed RE agent in TN. The services an agent provides for a buyer costs the buyer nothing. The agent's commission comes from the % amt negotiated between the seller and the listing agent. It's always best to sign a buyer agency agreement. That way you KNOW that agent is working FOR you and in your best interests. However, if you, as the buyer, default on the performance of a valid contract for sale, you could be liable for any commissions the agent may have earned. Just be sure to read any contract carefully before you sign it.

Answer 2

If you sign a buyer agency agreement with a real estate agent, you are the person held liable for the commission payment to that agent.

That being said, I would NEVER sign a contract (as a client) for a buyer agent without the proviso that the buyer agent would accept as full payment for services the normal commission split provided in that agency's MLS or other agreement.

The ONLY case in which you should actually have to foot the bill for a buyer agent is if said agent successfully negotiates and handles your purchase of a property NOT represented by a licensed real estate agency, or by another firm which refuses to split a commission with a buyer agent. When such situations arise, you should be informed ahead of time of the expected payment from your pocket.

Answer 3

Normally the seller pays the real estate commissions unless you have an agreement with a REALTOR to pay the buyer's side of the commission. You will have normal closing costs. It's usually not the real estate agent who charges you but the mortgage broker. Make sure you have a good faith estimate before closing and hold the mortgage broker to that estimate.