Through a typical Listing Agreement, a commission amount and/or percentage is agreed upon between the Broker and the Seller. Keep in mind, the commission is usually NOT paid unless that property sells!.
Also, there are instances where a FSBO (For Sale By Owner) is involved, but does not choose to work with a Broker, thereby refusing to pay ANY commissions. A "Buyer Agency Agreement Exclusive Right To Represent" should be used in every instance, but definitely used in this scenario.
My advice to you is this . . . If you are a Buyer or a Seller, focus on involving a Salesperson/Realtor that is good at NEGOTIATIONS! It's entirely up to you, but let me ask you this, "How much are you willing to pay to ultimately SAVE in the end?" P.S. I'm not just talking cash either!
Have a great day . . . Call me @ 330.858.0909 :)
The selling agency gets paid from either the seller of the property or they can be paid from the buyer or a combination of both. The agents representing the buyer or seller gets paid from their respctive brokerages. All dependent upon the agreements within each group.
Ken Woods Realtor .com 330-777-0075