Someone told me that the seller pays the commision to the buyer's agent as well as the seller's agent. Is that correct?
2007-08-04 05:16:19 · 4 answers · asked by Alpha Bravo Charlie 2 in Business & Finance ➔ Renting & Real Estate
It depends. If you are working with a agent as there customer
(they show you houses and write up offers but you have no written contract with them known as a buyers agency agreement) then they really work for the people selling the house then yes they will get paid by the seller.
If, on the other hand, you are in a contract with them and they work for you and get you the best deal possible, then you are responsible for whatever amount you negotate with them. You may also write in the offer for the seller to pay your agents commission. This sometimes works as the listing agent and selling agent share commision and if there is no selling agent but a buyers agent who sold the house then sometimes the agents will agree.
2007-08-04 05:24:01 · answer #1 · answered by just_someone_23 2 · 0⤊ 0⤋
Usually they split the one seller's commission...
For example, I am selling my house in Michigan...the commission I am paying is 7%. If the buyer has his/her own agent that agent will split the 7% with my agent (that is what it says in the contract).
Good Luck :)
2007-08-04 12:20:37 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You should pay nothing!! The seller pays all of the realtors commisions. For both your realtor and his realtor.
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2007-08-04 14:02:18 · answer #3 · answered by ibspecialk21 1 · 0⤊ 0⤋
correct
UNLESS you have a separate agreement with a 'buyer's agent' to represent you.
:-)
2007-08-04 12:20:06 · answer #4 · answered by Spock (rhp) 7 · 0⤊ 0⤋