How do real estate agents get paid? Real estate sales commissions are paid by the seller of a property contracting an agent to list their property for sale. This commission is spelled out and set forth in a “listing agreement”, and is generally specified as a percentage of the final selling price, with part going to the actual buyer’s agent, and part going to the listing agent.
Buyers get free representation while shopping for a home. There is no fee associated with working with an agent to purchase a home, however, once you select an agent, you should recognize the fact that they are basically an unpaid consultant for you, until you actually buy a home. This is when they will be paid for the long hours of effort they will expend on your behalf.
Once you select an agent to work with, you should remain loyal to them, unless they are not serving your needs, or addressing your concerns. If you go to visit homes without your agent, always let the representative at the property know who you are working with as your buyers agent. Real estate agents are a valuable resource for home buyers and can help guide you through your purchase experience.
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