OfflineI was wondering does anybody know where in the deal does the Real Estate Agent's commission come from? Does it come out of my fee or does it come from the buyer, seller? Who and where?
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Real Estate Agent Commission
Posted on: Tue, 08/24/2010 - 16:51
Its called closing costs
Thank you so much! This helped.
I'm a new investor, reading Dean's book "Profit from Real Estate Right Now. The Proven No Money Down System for Today's Market." Just needed some clarity. Thank you so much for your help.
The seller who listed the property with an agent is responsible for the commission. The commission comes out of their proceeds from the sale. If a property sells for $200,000 and the seller agreed to pay a 6% commission and the listing agent also sold the property, the agent and his broker would keep the entire 6% commission. If an agent from another agency brings the buyer to the table, then the commission is split between the listing agent and the selling agent. Buyers can contract with a buyer's agent to assist with their side of the deal and would be responsible for paying that fee. It would be a separate written contract solely between the buyer and their agent.
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