03/16/2024
One of the reasons why the NAR and big box brokerages were sued is because even our own agents DO NOT understand how the commission structure works.
The seller does NOT pay the buyer's agent. The seller pays the LISTING brokerage and the listing brokerage shares a portion of their fee with the buyerβs brokerage. What this usually looks like is 1/2 of X% of the sales price. That makes 50% for the listing agent and 50% for the buyer's agent.
Those of us who operate with this understanding are not worried about the settlements or NAR changes. Everything is negotiable in a real estate transaction.
Here is something to help you understand:
π΅π΅π΅π΅π΅π΅ $6 commission
π΅π΅π΅ - seller's BROKERAGE
π΅π΅π΅- buyer's BROKERAGE
Go more in depth? Sure
π΅ - Sellers Brokerage
π΅- marketing sellers property (photos, video, cleaning, handyman, open houses, paid ads, flyers, software, etc)
π΅ - Seller's Agent gets what's left over.
π΅ - Buyer's Brokerage
π΅ - gas, insurance, car patient, time searching for listings, scheduling showings, reviewing documents, writing contracts, reviewing contracts with clients, etc.
π΅ - Buyer's gets what's left over.
Those of you who keep advertising and worrying are just making it worse all around. π€
If you have questions, ask.