What part does the realtor take and how does he or she get paid?

Asked by Richard Diderich, Westcliff & Cambridge, Westminster, CO Thu Feb 14, 2013

This question was asked from this property: http://www.trulia.com/property/3027936539-Single-Family-Home…

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Skeeter Wils…, Agent, Westminster, CO
Fri Feb 15, 2013
In Colorado it is usual that the seller pays the Realtor commission. What that percent is, is negotiated between the Realtor and the seller.
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Jim Olive, Agent, Key West, FL
Fri Feb 15, 2013
Oops, not the "contract between the buyer and the seller", but the contract between the seller and their agent.
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Jim Olive, Agent, Key West, FL
Fri Feb 15, 2013
Skeeter is right on target. The seller and his/her agent have a contract that details how much the seller will pay the agent for the successful closing. The agents pay will typically be paid at the closing from the proceeds of the sale. Here in Key West, that usually means a check given to the agent at the end of the closing, distributed by the Closing Agent.

So, when you hear people say that the seller pays the agent for both the buyer and seller, that's because it's driven by the contract between the buyer and the seller. If there are two (or more) agents involved, the commission remains the same, it is just divided between the agents.
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