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browneyes
All moms are working mothers!
Member since 8/08 4311 total posts
Name:
Super Mom
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closing question
When does your realitor get paid?? Do we have to write her out a check at a seperate time or is that included in the GFE that the morage sends u?
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Posted 3/3/10 8:27 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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Re: closing question
are you a buyer? The RE get paid by the sellers not the buyers so they get their check at the closing from the proceeds of the sale.
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| Posted 3/3/10 8:33 PM |
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browneyes
All moms are working mothers!
Member since 8/08 4311 total posts
Name:
Super Mom
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Re: closing question
we are the buyers. ok, cool so i dont have to write my realitor a check (thankgod she didnt do anything for us anyway! er)
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| Posted 3/3/10 8:35 PM |
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Coosie
So in love with my little boy!
Member since 1/10 1889 total posts
Name:
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Re: closing question
you don't pay her (it's part of the seller's responsibility - the commission will get split between the seller's agent and your agent) UNLESS you signed a buyer's agent agreement....then you do pay her
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| Posted 3/4/10 12:37 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: closing question
Posted by Coosie
you don't pay her (it's part of the seller's responsibility - the commission will get split between the seller's agent and your agent) UNLESS you signed a buyer's agent agreement....then you do pay her
The comission is still paid by the seller
When I show a house I let the listing agent know what I am going in as...a sellers agent, brokers agent or a buyers agent (sellers agent and brokers agent are very similar but the seller is not liable for any misrepresentation by the brokers agent...this is important for seller to understand)
Then when an offer is placed I get paid based on how the comission is split- I send over an agency disclosure with the offer and the contract is written accordingly
Some listings don't pay a buyers agent- and that should be taken into consideration when the offer is place and added to the price of the house
A buyer rarely pays it out of pocket- (and should not)that is not the norm (I learned this when I became a Realtor at a class held by LIBOR- the long island board of Realtors)
Also- no agent should be calling themselves a "buyers agent" with out taking at least the 1 day class offered by LIBOR or the 2 day class that would make them a cerified buyers agent.
Message edited 3/4/2010 7:56:46 AM.
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| Posted 3/4/10 7:52 AM |
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