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Tuesday, May 28, 2013

Buyer's Question: How much must I pay you?

Not long ago I had a first time buyer ask me what they would have to pay me as their buyer's agent.  I explained it in one word - nothing!

Many things in life are far from certain.  But when it comes to real estate, three things are certain in my opinion:
  1. Real estate fees are negotiable.
  2. There are no set fees.
  3. Each transaction is different.
Here is a quick summary of the many real estate agent fee scenarios for those in the market  in Brevard County Florida.
  • Renter:  If you are looking for a rental property that is listed in the MLS, the owner pays the “renter’s agent,” not the renter.
  • Buyer:  If you are the buyer of a property that is listed in the MLS, the seller pays your buyer’s agent. Even if a buyer is interested in a FSBO, your agent may be able to negotiate the seller paying their fee.
  • Seller:  If you are the seller, you will likely be paying your seller’s agent and the buyer’s agent. However, short sales are different and seller fees are most often absorbed by the lender.
If you are considering any transaction involving real estate, call a real estate agent and discuss the process and costs, if any.

There is absolutely no reason a buyer or renter should not have a real estate agent involved in their transaction.


 

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