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What is the job of a real-estate agent? For buyer and seller? How are they paid?


  • August 27 2014 - US
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Answers (2)

Profile picture for craigfial
Beware, there are many types of buyers agents.  Some get paid by the Buyer through a contractual obligation, acting as a "Single Agent".  Single Agents work only on Buyers Behalf, have strict requirements.

A "Transaction Broker"  No contract with buyer, can show, negotiate, and assit the buyer with contracts but has no fiduciary responsibility to them.  They are in it for the commission and have no loyalty to either buyer or seller.  Transaction brokers get paid from the listing broker based on the listing brokers contract with the seller.  Example: Seller is willing to pay 7% Commission.  The listing agent can offer the buyers rep whatever they want out of that amount.  In most cases, they split the commission, but not always.

Listing Agents get paid by the seller based on their listing agreement compensation.

In the end, the BUYER Pays for everything, but at closing it looks like the seller is paying.  It all comes out of the same pot of money.
  • August 27 2014
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Profile picture for Rebecca Marvel
A listing agent works for the seller providing marketing for the property, open houses, showings, etc. They help the seller negotiate offers. They also handle all of the paperwork with regard to state required disclosures.

A selling agent (or buyers agent) assists buyers by showing them properties, writing offers for them and handling state required disclosures. They also assist the buyer with negotiating offers and educating the buyers in the process of purchasing real estate.

Traditionally the seller pays commission to their listing agent. That agent offers a portion of the commission (normally half) to entice a buyers agent to bring their clients.
  • August 27 2014
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