Do I pay a real estate agent, if I’m the buyer? | #RealEstateTalk 024
Do I pay a real estate agent, if I’m the buyer? The great news is No you don’t have to pay the real estate agent when you are buying a home. You can receive representation without it costing you a dollar.
How does a buyer’s agent get paid? A buyer’s agent is paid by the listing agent’s broker. The listing agreement establishes the total compensation to be paid by the sellers to the listing agent’s broker. The listing agreement also states the percentage of the sales price, the listing broker is going to pay the other broker. The other broker being the broker of the buyer’s agent. The sellers pay for their own real estate agent and the buyers real estate agent. The real estate agents and their brokers get paid after the property is sold, closed, and funded.
How much does a buyer’s agent get paid? The industry average commission for a buyers agent broker to get paid is 2% to 3% of the sales price. How much of the 2% to 3% will your real estate agent receive. It depends upon the commission structure agreed to between your agent and your agent’s broker. The compensation to be paid to the buyer’s agent’s broker is stated in our Houston multiple listing service (MLS).
Free representation is great for buyers. Now as you can imagine, the sellers aren’t excited about paying for their real estate agent AND your real estate agent. But this is how a buyers agent gets paid.
I would love to have the opportunity to represent you on the purchase of your next home. As a master certified negotiation expert, I’ve acquired the negotiating skills to secure the best terms and price for you. Text or call me @ 281.804.8626.