The buyer's agent's fee is typically paid, out of the seller's proceeds at the closing table. So the buyer isn't usually paying any "out of pocket" fee to the buyer's agent. But there's a compelling argument to be made that since the seller will make adjustments to what they will accept, based in part, on what the buyer's agent is being paid... that in the long run, the buyer is paying for their own agent.
This is also from one of the more "candid" agents here.
The buyer is ALWAYS paying the commission; it is built into the asking price.
The commission is set by the listing agent and is generally "shared" to some extent with the agent who sells the house..
The listing agent represents the seller. So, who will represent you?
When you sign a buyer representation, it will include an obligation to pay the commission if the agent does not collect from the listing agent. Make sure your agent presents all offers "contingent" upon whatever commission you have decided upon with your agent. This will help insure she collects from the proceeds at the closing table.
I hope this helps.
Wed Jun 4 2008, 18:18
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