Do You Need to Pay a Real Estate Agent if You’re the Buyer?

Chris at Hauseit (https://www.hauseit.com) goes over the question of whether a home buyer needs to worry about paying a real estate agent any commission, fees or anything else.

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Save money when buying, selling and renting real estate in New York and Florida with Hauseit. Available in NYC, Long Island, the Hudson Valley and South Florida. Visit https://hauseit.com, send us an email to team@hauseit.com or give us a call: (888) 494-8258 to learn more. Established 2014.

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No, you do not need to pay a real estate agent if you're the buyer. Broker commissions are a seller closing cost, and they are paid in their entirety by the seller.

Typically, the seller negotiates in a traditional listing arrangement with a seller's broker to pay a fixed percentage of the sale price if their property sells. They agree to pay this percentage without regard to whether the buyer has an agent or not.

In fact, the listing agreement typically only specifies that the seller's agent will or may split commission per local MLS association rules. These rules typically specify at least an equal split of the commission with a buyer's agent, if the buyer has an agent.

However, if the buyer chooses not to have a buyer's agent, then the seller's agent gets lucky and gets to keep the entire broker commission.

In any scenario however, the buyer is simply not expected to pay any real estate agent anything. Working with a buyer's agent is free for buyers.

Remember that you can get more than just free service by working with a buyer's agent. You can also get some of that commission back at closing to help pay for furniture, your closing costs or whatever. You can do this through a Hauseit Buyer Closing Credit where our buyer's brokers give you 2/3 of the buyer agent commission. Contact us at www.hauseit.com to learn more!
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https://www.hauseit.com

Save money when buying, selling and renting real estate in New York and Florida with Hauseit (https://hauseit.com). Available in NYC, Long Island, the Hudson Valley and South Florida. Est 2014.

Hauseit Group LLC, Licensed Real Estate Corporation
Tel: (888) 494-8258 | https://www.hauseit.com
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