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Jayme Klosterman
- 6 Helpful Answers
- 14 Answers
- 1 Listing
About:
Tri-State Area native currently residing in pastoral Amberley Village (what other city has "country side" 10 minutes from town center!). I've also lived
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Jayme Klosterman answered:
It might help to understand how a real estate agent gets paid. In the most basic example, a seller agrees to list the house with Agent A with Acme Real Estate Brokerage for a 7% commission. Agent X with XYZ Realty brings a buyer to the house, and a deal is made. The commission is split: 4% to the Listing Brokerage, 3% to the Buying Brokerage. The agents in the transaction then split that percentage with their respective firms based on thier own agreements (i.e., 50/50; 40/60, ect.)
The selling agent cannot effectively represent your best interests based on Ohio Agency Law. It's the responsibility of both of these agents to explain to you what types of agency relationships are and what they entail. You can also choose to represent yourself, in which case, the selling agent's commission agreement is with the seller alone and that percentage of the commission may vary. I strongly urge you to enlist the assistant of an agent you trust to work on your behalf. Without professional assistance, too many issues can fall through the cracks that may wind up to haunt you.
Finally, a smart, honest agent works hard and should be compensated. Think about it. Would you reduce your paycheck if someone asked? Good luck!
jayme.klosterman@cbws.com
The selling agent cannot effectively represent your best interests based on Ohio Agency Law. It's the responsibility of both of these agents to explain to you what types of agency relationships are and what they entail. You can also choose to represent yourself, in which case, the selling agent's commission agreement is with the seller alone and that percentage of the commission may vary. I strongly urge you to enlist the assistant of an agent you trust to work on your behalf. Without professional assistance, too many issues can fall through the cracks that may wind up to haunt you.
Finally, a smart, honest agent works hard and should be compensated. Think about it. Would you reduce your paycheck if someone asked? Good luck!
jayme.klosterman@cbws.com
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