Home Selling in 92108>Question Details

Neophyte, Other/Just Looking in 92108

How are real estate agents compensated?

Asked by Neophyte, 92108 Sun Nov 9, 2008

I am getting jerked aroung by the seller and his agent and am beginning to doubt whether the property is actually for sale. I can't imagine why the real estate agent would go along with this, unless he gets paid either way. Do some agents charge a flat fee for representing sellers?

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9
The bigger question becomes.....do you have personal representation?

Anyone listing their property for sale through a real estate brokerage would enter into an agreement that usually identifies the agent as the main contact source. So for a buyer to have direct contact with the owner is highly unusual.

There are a variety of other arrangements that include discounted services that leave the actual selling in the hands of the owner.

Your best course of action would likely be to be woring via a local real estate professional that will look out for your personal well being alone.......

Good luck,

Bill
0 votes Thank Flag Link Wed Jun 13, 2012
Generally Seller's agents are not paid until the property sells.
0 votes Thank Flag Link Wed Jun 13, 2012
Yes, some agents like assist to sell charge a flat fee but they only get paid when they actually close the deal.
0 votes Thank Flag Link Sun Nov 9, 2008
Jane...Agents usually get paid once the sale closes escrow. if you are not comfortable with the manner in which your agent is representing you, you may want to contact his/her broker for assistance. It is difficult to provide you with more specific input without knowing the details of your situation, but don't put up with poor service, especially in an area as important as buying a home.
0 votes Thank Flag Link Sun Nov 9, 2008
ohhh, and who pays the realtor??

actually, you do!

You pay the homeowner, who in turn, hands over a small percentage of your mortgage payment to the realtor!
0 votes Thank Flag Link Sun Nov 9, 2008
Getting jerked around by the seller and his realtor??

I doubt that the realtor is preventing the sale of the property considering that is only way he gets paid!

Why not contact your favorite realtor and let a professional help you with this transaction.
0 votes Thank Flag Link Sun Nov 9, 2008
Jane
Unfortunately the barriers to entry on pretty low for real estate agents. That means that almost anyone can bet an agent, and depending upon their level of commitment and training, many strange things are possible.

The key in any sale (IMHO) is the capability of the listing agent. Some listings should never have been taken, some listings taken will never be sold.

What does your agent tell you?
0 votes Thank Flag Link Sun Nov 9, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
It is possible, but normally the listing broker gets paid by the seller only if the property sells and the selling agemt get paid by the listing broker.

In some cases, the listing broker may get paid regard;less if the property sells or not, but that is very unusual. Same thing for a buyers agent, some do get paid regardless of if a home is bought or not, again very unusual

Are you working with an agent to represent you in the transaction. It does not cost you anythoing, give you added protection in the deal and can get you the answers you need.

I work as a buyers abgen and do offer rebates in some cases. Feel free to contact me directly if you currently do not have an agreeement in place with another broker

Jay Gedanlken
Broker Associate, Realtor
PineappleHut Realty
858-605-5839
jay@pineapplehut.com
http://www.SanDiegoHomeGuru.com
.
0 votes Thank Flag Link Sun Nov 9, 2008
The Agent on either side of the transaction, is paid from the Seller's proceeds once the property closes escrow and is sold.
What actually concerns me more is that, from your question, it sounds like you do not have an Agent representing you, watching out for your best interrests and being your advocate.
In fact it sounds like the listing agent has created a dual agency and is trying to represent both you and the seller. There is nothing wrong with this, as long as you feel that you are being properly represented and protected by the single agent working for both sides.
It sounds like you do not feel this is the case.
It may be time for you to find your own agent.
0 votes Thank Flag Link Sun Nov 9, 2008
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