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 typically based on a percentage of a home’s sales price or it can be a flat fee. 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 to your buying experience.

Here are some things to consider when hiring a buyer’s agent:

  • Is this their full time career? Some agents work a full time job and their real estate career is their “side hustle”. This isn’t necessarily a bad thing but it may affect their availability and many full time career professionals have more experience and dedication to their business.
  • What is their negotiation style? Real Estate is a team sport – everyone has to work together to get to finish line.  While your agent should always have your best interests in mind, it’s important they play well with others.  Being bull headed and hard to deal with can often lead to lost deals & lose you lots of money! On the other side of that coin, your agent should be able to stand their ground when it matters.
  • What is their experience? See what their background is and what skill set they are bringing to the table.  While real estate experience is important, having a professional background in other things can be a great way to round out their experience.
  • Do they have a process? Real estate transactions are not all the same, but it is important that your real estate agent has a process and a plan to help you reach your goals. Some agents may “just wing” it, but the true professionals will be able to give you the steps of their plan and let you know how they will serve you.

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!