Quote:
Originally Posted by Brokemofo
Let's get this straight people. The seller doesn't pay the agent selling the home. The seller pays the listing Broker/agent. The llisting broker/agent pays the selling agent.
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That's absolutely correct. Usually the listing broker splits the commission in half with the buyer's agent, and each gets 3% of the sale price. I saw listings where the listing broker only pays 2% or 1.5% to the buyer's agent. When you're buying a house and using a broker, make sure he or she is trustworthy, because some agents won't even show you the houses where they won't get 3% commission. If you're selling a house, you negotiate the commission with your listing broker. Make sure that he or she splits it equally with the buyer's agent; otherwise, you won't get as many potential buyers. That's why it's a lot more difficult to sell a house with a discount broker, as you greatly reduce the pool of potential buyers.