09/03/2021
Ain’t no day like PAYDAY, am I right?!
In real estate, payday can seem a little puzzling—especially for your buyer’s agent.
After all, if you’ve ever bought a house, you know your agent never asked for a dime during the entire process. (Truth is, real estate agents can't accept money directly from buyers.)
Here’s how it works:
Agents receive a commission based on a percentage of a home’s sales price—typically between 4% and 6%. Most often, the agents split the total commission 50/50.
The seller typically pays the commission out of the sales proceeds at closing.
The commission first goes to the seller's brokerage, who cuts a check to the seller’s agent.
Next, the seller’s brokerage sends the remaining funds to the buyer's brokerage and pays the buyer’s agent.
Hiring a qualified buyer’s agent who can negotiate the best deal on your behalf is crucial if you want a happy-go-lucky buying experience.
If you, or someone you know, is looking to buy (and now’s a perfect time!), reach out or pass my info along. I’d love to connect ASAP!