For you as a seller, we examine current market trends, carefully examine your home, recommend what action should be taken to make it more attractive to buyers, and deal with many other issues all to determine the best and realistic price for your property. Then, we try to sell it.

And we do all of this without getting paid. That’s right. No need to pay your Realtor until they’ve sold your property. Realtors are paid until you get paid.

Real estate agents generally get paid about 5-6% of the final sale price of a property if they are the one chosen to sell the property. In this case, the agent representing the property is called the “listing agent”.

So how does a Realtor get paid if they aren’t the listing agent and are helping you buy a property? Well, homebuyers are pretty lucky. They don’t have to give one penny to their agent. All commissions to the Realtors involved in the transaction are paid for by that 5-6% from the sale price of the property. It is typical that the real estate agent representing the homebuyer and the listing agent divide this 5-6% evenly.

Therefore, if a condo sells for $400,000, then commission at 5% would be $20,000. The listing agent and Realtor representing the buyer would each get $10,000.

This entry was posted on Friday, March 28th, 2008 at 10:04 am and is filed under Working With An Agent. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.