Are you in the market to buy a home? Finding the right home at the right price can be difficult, especially if you don’t have the necessary experience or knowledge to negotiate a good deal. If you have the right professional team that knows how the process works from beginning to end, it can help make your home buying experience far more enjoyable.
Who Pays For A Real Estate Agent's Commission?
There are many people involved in the home buying process, including the seller, buyer, listing agent, and possibly buyer’s agent. The seller almost always uses a listing agent to put the home on the market in hopes of attracting a buyer. The seller is responsible for paying the listing agent through commission out of the selling price of the home. In addition to the listing agent on the seller’s behalf, a buyer’s agent can (and should) be used by the buyer. The buyer’s agent represents the buyer’s best interest when buying a home. This agent is paid out of the same commission given to the listing agent.
If you’re the one looking to buy a new home, having a buyer’s agent on your side is always a great idea. By using a buyer’s agent, you will have a knowledgeable professional who will be able to negotiate the best deal for you, not the seller. You’d think that hiring a buyer’s agent would cost you money, but since a buyer’s agent is paid through the commission on the home, neither you nor the seller will have any additional costs. Instead, the listing agent and buyer’s agent will split the same amount of commission in half. This allows you to get the best deal at no cost to you at all.
We hope you enjoy our Info Graphic, "Who's Who (...and Who Pays for What) When Buying a Home?" If you have any questions or would like to talk about any of this information we're available to chat. Call or Email us Today!
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