Quote:
Originally Posted by Seeker
I'm not sure I understand the difference here.
Seller chooses and agent to sell their home. Agent does his/her job. Buyer and buyer's agent comes along and makes an offer. Seller accepts offer. Seller pays agent agreed to percentage of price. Seller's agent pays buyer's agent the agreed to percentage of that.
I know that sometimes the ratio is not 50/50 and if the agents work for some major company, then there's probably a 4-way splitting.... but there's some agreed-to beforehand ratio:
1) seller can accept an offer below market value and still make a profit
2) seller can accept an offer above market value and make a greater profit
3) seller can accept an offer below market value and have a loss
4) seller can accept an offer above market value and still have a loss
Don't the agents always make some percentage of the price on the house? Yes, it can be a gain or a loss for the seller....??? In each of the above four alternatives, still the agents get paid a percentage of that sale price.... not just the "equity"?
Maybe the recent chaos in the housing market is getting me confused because I think "equity" of the homes sold within the last 5 or so years may not exist?
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Oops, I missed one word in your post. I some how missed agent after buyer. I thought you were saying the buyer picked up part of the fees. Your right, the two agents usually split the fees from the seller.