It's truly important to mention that Buyers do not need to pay anything to their Realtor® to help them find that special piece of real estate, whether it’s a lovely house or cozy condo. Remember, professional and experienced Realtor® is able to negotiate great deals, look after all important aspects of the real estate transaction and provide valuable professional approach that will save YOU time and money. Do not hesitate to get yourself a great Realtor® - it's free for Buyers!
Curious how real estate commissions work?
Primarily many real estate transactions involve two brokerages: Seller's brokerage and Buyer's brokerage. Each of these brokerages is represented by a licensed real estate Agent. So, the real estate commissions that are paid by the Seller are compensating both Realtors® (Seller's Agent and Buyer's Agent). Although, real estate commissions are negotiable the typical often used formula that covers both sides consists of the 7% from the first $100,000 plus 3% from the balance of sale price. Therefore, allocating half of that amount to each respectful Realtor® to be 3.5% from the first $100,000 plus 1.5% from the balance of sale price.