If you’re thinking about purchasing a home in the near future, you may be wondering how much you have to pay your real estate agent to help you buy your house. The answer is that it depends. Fortunately, in the vast majority of locations, you will not have to pay your real estate agent anything if you’re looking to buy a home. This is because the vast majority of real estate agents are paid a commission when a home is sold. Therefore, how is a real estate agent paid?
The Commission Usually Comes From the Seller
First, the seller is usually responsible for paying a commission to the real estate agent when a home is sold. For example, the average commission on the sale of a house is approximately six percent. Each real estate agent will take a three percent commission when the home is sold. Half of the commission will go to the buyer’s agent. The other half of the commission will go to the seller’s agent. In addition, the seller may also have to pay an attorney to assist with the closing process. There are a lot of expenses that someone might incur when he or she sells a house in the local area.
The Buyer Usually Does Not Have To Pay the Real Estate Agent Anything
Because the seller is usually responsible for taking care of the real estate agent commission, the buyer should not have to pay the real estate agent anything. At the same time, you’ll need to pay attention to how much you’re paying for your home. Even though your real estate agent should advocate for your best interests, you should also remember that the real estate agent is going to get paid a commission based on the sale price of the home. You should also keep this in mind when you’re trying to take out a home loan.
Work With a Real Estate Professional
Ultimately, you want to make sure you get a fair price for your house. Therefore, you should work with a real estate professional who is familiar with the local market. That way, you can place yourself and your family in the best position possible to be successful.
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