Everyone deserves to be paid for valuable services they render to others, and real estate professionals are no different. But as a prospective homebuyer, you'll want to be sure you understand how compensation factors into your transaction.
What is the standard compensation structure?
For the most part, real estate professionals are compensated by commission, based on a home's selling price. Commission rates are not standardized, but vary, as does how the sales commission will be divided between the agents on the selling and buying side of the transaction. There is consistency, however, in how commissions are paid. When a seller signs a listing agreement, their contract is with a brokerage firm. All fees must pass through that brokerage firm. Typically, the seller's representative-and your buyer's rep-will be paid by the listing broker after the transaction closes.
troy@yakimatraditions.com
troyallen@remax.com
www.troyshomezone.com
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