Profile picture for user2144662

is it a common practice in Raleigh, NC that the buyer has to pay to the Real estate comp for buying

why the buyer has to pay the real estate company for buying a property ?
  • December 04 2012 - Raleigh
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Answers (4)

It is not common practice. Unless its a FSBO or a foreclosure where the commission is not enough.

In either case, the commission may fall short of the agreed amount in the buyers agency agreement. The seller may not want to pay a commission, though they would be crazy to turn away a willing and able buyer.

Also, please get buyer representation. Its worth its weight in gold. There are so many things involved in the home buying process, you owe yourself to be represented by an advocate that will work on your behalf.
  • February 10 2013
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Profile picture for tmenges
It depends on the terms in the buyer agency agreement.  Most agents are willing to accept the standard payout that is advertised with the property information in MLS.  However, agents will specify what is the minimum amount of commission that is acceptable in representing the buyer in a transaction.  If the amount of commission falls below the buyer agency agreement amount, then the buyer client would be expected to make up the difference.  In a transaction where the seller is a "for sale by owner" (FSBO), the FSBO may be unwilling to pay any commission at all.  In that instance the buyer would be expected to compensate his agent for the full amount of the agreed buyer agency commission.  Both the buyer and Realtor fully know in advance that the buyer will be liable for the commission, but the agreed sale price is likely to be such that the buyer is still getting a deal.  That the commission will have been fully earned by the agent.  Another scenario where the buyer will be liable for commission is an auction sale where the MLS payout may be as low as 1%.  The buyer would again be expected to pay the difference between the 1% and the commission that was agreed to contractually in the buyer agency agreement.  Auction sales will often include a buyer's premium which effectively is a commission that the buyer is paying to the listing company or auctioneer.
  • December 04 2012
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Profile picture for Sharon Lewis
Not normal in my world and I am a Realtor in this area.
 The seller generally pays the commission, that is why all agents are considered to work for the seller until the buyer and Realtor have a working agreement called a buyers agreement. Are you under agreement with this agent? If not you can change and find yourself someone else.
  • December 04 2012
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Profile picture for wetdawgs
What situation have you encountered?

If a property is listed by an agent, usually the selling party pays the commission of the agent.   Some brokerages (of the buyer's agent)  also charge a fee of several hundred dollars to the buyer.     If the property is listed as a FSBO, then who pays the agent fee is negotiable.   Not all FSBO sellers are willing to pay a buyer's agent.
  • December 04 2012
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