Why a REALTOR® - Who Pays the Comission and How Does the Agent Get Paid?
The Seller typically pays the Buyer’s Realtor. This is great because that means if you can save your down payment, you are ready to go get a house.
So how do Realtors get paid? When a Seller's Realtor lists a house, the Seller agrees to pay the commission for the entire transaction. The commission is agreed to between the Seller and their Realtor and his broker. Commissions are negotiated at that time.
Once a property is sold, the commission is divided up between four parties. The Seller's Realtor and the Broker works for the Buyer's Realtor and the broker he works for. That's right, the agent does not get paid anything, until a buyer buys and a seller sells.
|
