One common question almost every buyer wants to know is how much does a Realtor cost when buying a home because some buyers and sellers are intimidated of working with a Realtor because of the potential cost of paying the Realtors commission.
Working with a Sellers Agent and a Buyers Agent are two different aspects of Real Estate, that’s why in today’s post were going to break down the basic facts about who really pays the Buyer’s agent commission when you are purchasing a home.
When you work with a Realtor or “Buyers Agent” the Reality is that your Realtor will cost you nothing because, your Realtor’s commission will be paid by the seller once the home has sold and then the Sellers Agent will pay a percentage of the commission to the Buyer’s Agent.
Typical commission on a the sale of a home will be up to 8 percent of the sales price but that commission is also negotiable between the seller and their agent.
Once the home is sold the Sellers Agent will be paid about 7 percent commission on the sale of the home and they will agree on a split of the commission with the your Realtor, the Buyer’s Agent. Most Buyers Agent’s will agree to accept between 3 to 4 percent of the 7 percent commission that the Sellers Agent will receive but this can also vary as well depending on if the Buyer and Sellers agent both
work for the same brokerage firm or the experience of the Buyer’s Agent.
Realtors save Time and Money
Now that you know that working with a Realtor (Buyer’s Agent) is a cost effective way to help you buy a home you should also work with a Realtor because of the following facts:
• Your Realtor will provide you with personalized service to help you find the right home.
• Working with a Realtor will save you the time and hassle of having to understand contracts.
• Using the services of a qualified Realtor will also enable you to negotiate a home’s price down if
it’s found to be in need of repairs.
To learn more about the qualified team of Realtors at Fred Sed & Associates or to view homes for sale across Orange County contact us today by calling (949) 272-0125.