Profile picture for lajkla

what charges gets the agent when we buy a house ?

  • May 07 2014 - New Port Richey
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Answers (12)

Nothing is set in stone, I have seen some deals where bidding wars caused buyer to pay commission. But generally speaking, listings/selling side pays commissions.
  • July 11 2014
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Profile picture for Datsme
Accordingly, the  buyer's agent commission comes from the seller and not from the buyer. That is just the FACT!
  • July 11 2014
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So let me get this straight! 
I am selling my house FSBO. I list it for $500,000, at closing I should get a check for $500,000 minus any leans against my house i.e. the currant mortgage of say $250,000. So I should clear $250,000 correct? to put down on my new home to avoid paying capital gains tax.
The person buying my house should pay closing costs, taxes, escrow, points (if any) and any money owed to their agent for helping them find the house. I only pay if I agree up front to pay any of the fees that the buyer is responsible for if I so choose... Is that right?!
  • July 10 2014
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FREE FREE FREE! Buyer Agent is paid by the seller. But don't forget Closing costs though! There are fees that come from buying a home. Make sure you ask your Realtor to go over it with you. Good luck!
  • July 10 2014
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The buyers do not pay the Realtors a commission yet the seller does, (unless the buyer is on a buyer broker agreement and the buyers buy with out their agent).  The buyers already have enough to pay with the lender fees and the title fees, tax proration's and so on. Therefore the commission has nothing to do with the buyer. I wish you the best of luck!
  • May 07 2014
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Profile picture for faridabadi
No it's not Mack!

Of course the only source of money in the transaction is the Buyer so he paid for everything. But at least he had an opportunity to negotiate them (purchase price, closing cost etc.)

The real question is why Buyer is never given an option to negotiate the fees paid on his behalf? 
 
 For example if a Buyer comes without representation,  his offer should automatically get a bump of 3% (assuming that's the Buyer's agent commission as per the contract)
  • May 07 2014
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Saying that the buyer pays the agent (in a co-broke situation) is like saying the buyer pays the seller's transfer taxes and mortgage, too!
  • May 07 2014
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Profile picture for SteadyState
Saying that the selling (buyer's) agent is free to the buyer and paid by the seller is like saying that the bank pays my taxes!!!

1. Person => Check (bank) => IRS [Bank pays IRS?]
2. Buyer => Seller => Agents [Seller pays Agents?]

  • May 07 2014
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Its free for a buyer to use a buyers agent. The seller pays the broker fees.
  • May 07 2014
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Using a buyers agent does not cost you one cent. Nor does it inflate the price of the property. Selling is a different story but when buying you get to choose from whomever you want and you basically get free representation. NEVER GO DIRECTLY TO THE LISTING AGENT IT'S LIKE GETTING LEGAL ADVICE FROM YOUR EX HUSBAND/WIFE'S ATTORNEY !!
  • May 07 2014
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Buyer's agents are paid by the seller. The rest of the fee's will come from lender/title/taxes and insurance assuming you are financing the home.
  • May 07 2014
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Usually the seller signs a listing agreement with their agent that includes the commission rate or dollar amount/fee to be paid to the listing agent.  In the MLS the listing agent advertises the amount of ccommission, the split of commission offered to selling agents.  At closing the commission is deducted frfrom the sellers proceeds and paid out to the listing and buying agent's company who in turns pays the aagents according to their agreement with the agent(s).  
 
  • May 07 2014
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