How Does A Buyer’s Agent Get Paid?
How does a Buyer’s Agent get paid? And how does the MLS work?
This is one of the most asked questions. To put it simply, I get paid by the seller when the job is done.
This is how it’s broken down:
- The Seller will hire and sign an agreement with the agent they have chosen to work with (Seller’s Agent).
- The Seller is now represented by that particular agent.
- The signed agreement states the amount of commission the Seller has agreed to pay the Seller’s Agent. This amount may be 4-7% of the sales price and is paid at close of escrow.
- Any Agent can be a Seller’s or Buyer’s Agent.
- When the Seller’s agent places the listing information in the MLS, the Seller’s Agent agrees to share his agreed commission with the Buyer’s Agent. In most cases it’s half.
- All showings, negotiations, and investigations, of a home by a Buyer and the Buyer’s Agent act together in good faith. The Buyer’s Agent gets paid when the job is done.
Contact Debbie Dye and ask me how you can receive a 1 year home warranty.
