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Sunday, May 17, 2009

Who pays the real estate agent?

I get this question frequently from buyers new to the process (as well as renters looking for a new place to lease).

As a buyer you do not pay the real estate agent. When a home is listed for sale the listing agent (the one who has the sign out front) includes in the listing agreement the compensation terms. Although it is variable and negotiable, it is most often a percentage of the selling price. The seller's agent then (normally) splits that amount 50/50 with the buyer’s agent.

[The amount each side “takes back to the office” is not necessarily the amount the agent receives. Typically the company takes a percentage, the broker takes a percentage, then the agent gets a percentage.…you get the picture.]

So, if you are considering buying a home, don’t be concerned over paying your real estate agent. If you purchase a home your agent will be paid by someone else!

By the way, the same holds true for rentals – just smaller amounts!

If you are considering buying a home in Brevard County, Florida, please give me a chance to be your real estate professional. As a buyer or renter, you don’t pay me!

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida. Call me at 321-693-3850 or email me at agent@moving2brevard.com.

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