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Real Estate Agent Commission
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Jan1975
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Member since 8/09 3846 total posts
Name:
Sarah
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Real Estate Agent Commission
How does it work? Do they just take a % of the final price or do I pay them out of pocket? I am not sure how it works at all! Thanks in advance for any clarification!
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Posted 7/7/11 9:51 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
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Re: Real Estate Agent Commission
Are you buying or selling?
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| Posted 7/7/11 10:41 PM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: Real Estate Agent Commission
If you are buying you usually don't pay. If you are selling, yes, the REA will get a commission for selling your house. The % varies but within the same range for most REA.
I am not sure what the % is those days (4.5-6% ?????)
If you are buying.....If you have both a buyer agent (working for you) and a seller agent selling the house, they split that same commission that the seller will pay (they don't pay twice. The agents just split that % between both).
If you are selling, you pay that % listed in your REA contract. Whether the buyer has a buyer agent or not. You don't pay an additional % for that buyer agent.
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| Posted 7/8/11 6:49 AM |
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