Okay, we are new to this and in the middle of buying our first house.We just came from the seller's real estate office, we are finalizing things right now. But, anyways the agent is saying the seller is only going to pay him half of the commission,..which is 1500, and we are required to pay the other 750. This doesnt sound right to me. Why would we pay the real estate agent, we didnt chose him anyways. Isnt it the sellers responsibility to pay the agent? And if he doesnt, would that then make it our problem?
Hey I am not sure what sate you are in, but NO it is not normal for the buyer to pay the agent anything. Unless it was in contract and you signed it with out understanding. I would go right to the big guy, the Broker and question it. If you are not happy with your answer then call the real estate commistion. I think that they are trying to get over on you. Usually the seller pays a % to the agent. A dollar amount is only calculated after the price has been areed on. The seller then at settlement pays the % to the agent (s) involved. For sale by owners are a little diffrent. They will some times give a dallor amount and if the agent don't like that amount they will try to get the rest from the buyer. I wish you luck. Please post and let me know what happens.
I would really like to know how this ends. Please email me. I am a real estate agent in SC and you are not supposed to pay a commission as a buyer in this circumstance. The seller pays 100% of the commissions. I always suggest you have your own agent rather than using the seller's as you have now entered into a dual agency situation. The agent is obviously working for the seller. Had you hired an agent for yourself that agent would be working for YOU. I strongly suggest you contact your state's real estate commission and look over any signed documents that you may have because this just doesn't seem right to me. As I said, the laws may be different from state to state, but this would not fly in my state at all. Please let me know what happens.
Attend open houses. Also, pick up the local real estate books that they give out for free. Find a few houses you like and call the listing agent and ask to see the house. That will give you a chance to meet a few local agents and see if there is anyone you mesh well with. We used Remax with our last purchase/and sell. However, I would not base my decision on a specific company name....each realtor is different and unique. Try to stick with a company that has a more well known name (none of those discounted fees places or tiny companies) so you know you are getting the most accurate information possible. If possible, it would be nice if the agent was close to your age, so that they can relate to why you are looking for certain features or locations, and can better foresee other homes that may be perfect for you that maybe you are overlooking as being somewhat unfamiliar with the area. Good luck! Look at several houses before making any offers!
The rules are different in every state. If you didn't agree ahead of time or sign any documents prior to looking for a house that you were going to pay ANY part of the agent's commission, then you need to go to the real estate agent's broker and talk to them about it. Also, another good move would be to contact your state's real estate commission. They can advise you on the rules in your state. I'm a real estate agent, and in my state, the norm is that the SELLER pays the agent the entire commission, NOT the buyer. Good luck to you! I hate seeing people get taken for a ride! I don't think it's right for you to have to pay any of that commission if you weren't told ahead of time!
