Sellers will ask: how are Realtors paid, and how much? I hope this brief explanation will be helpful.
A seller does not pay me, the Listing Broker, any compensation unless I am successful in selling his/her property. When I accomplish that goal, I am reimbursed for my time, talent, effort and energy spent working with the seller to get that property sold. Sometimes, especially in a difficult market, despite all these efforts, I maynot be able to accomplish the goal of selling the property and, in that case, there is no fee owing.
My compensation, when successful in meeting the sales goal, is based on a percentage of the sales price. This percentage is not set in stone - it is a negotiable amount and we will discuss this at the time of the actual listing once I have been chosen to list and sell the property.
The total compensation is owed to the Listing Broker (me), and I agree, once a property is placed in the Multiple Listing Service, to share a portion of that compensation with the Selling Broker (the person who successfully represents the buyer in the sale.) All marketing costs are the responsibility of the Listing Broker, unless a written agreement is completed by the seller and the Listing Broker.
I have been a Realtor since 1988 - and have successfully completed hundreds of local area sales on behalf of sellers. I look forward to helping you as well!
To see my blog: Kathleen Barnato.com
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