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How does a buyers agent work? How do they get paid.. etc?


Asked by Anonymous at 9:18 AM on Jun. 23, 2009 in Home & Garden

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Answers (2)
  • First let's explain how they get paid. Basically, when a homeowner decides to sell their house, they hire a Realtor to do it. When they are deciding on the price of the home, they usually add in 6%. The selling agent and their broker will be paid 3% of that 6% and the buyer's agent and their broker will be paid the other 3%. All of this is negotiable and based on the housing market, there really is no "norm" anymore. So a homebuyer doesn't typically pay their agent, the agent is paid by the Seller. A buyer's agent has an incredible wealth of information that is only available to licensed real estate agents. Being a licensed real estate agent myself, I can tell you that homebuyers truly benefit from an agent's experience and access to information. Ask your friends and neighbors for a referral, that is how most people find good real estate agents.

    Answer by JJMichigan at 4:08 PM on Jun. 23, 2009

  • He/She will ask you what type of hoe you are looking for what your price range is and they will look for listings that match your needs. They will tell you what they think of the home. over priced, good price etc. They can even help with finding the right lender for you and help finding a lawyer to go through. They show you the homes for work.
    Ours will get paid 3% of the selling price of the home. They only get paid if you buy a house.

    I highly recommend one. We are using one now and the guy is great, so helpful.

    Answer by lady-J-Rock at 1:24 PM on Jun. 23, 2009