Real Estate Agent Commissions: How do they work when buying or selling a home?
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- čas přidán 23. 07. 2024
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Just finished my real estate course and this is very helpful.
Thank you. I am just getting into the phase of looking for an agent and was wondering about this.
I really appreciate you making this video :)
Very helpful. Thank you for posting.
This is soooo helpful! Thank you!
Fantastic stuff!! Thank you!
excellent content and well explained.
We recently talked to a realtor about selling our home and down sizing. Forget it! The realtors get 6%… Yeh, that may be what they all get, but NOT from me! It makes selling it yourself very profitable for you! Some fees are justifiable and reasonable but realtors fees are OUTRAGEOUS!! Next……..
Cool….. everyone else under a buyers rep agreement who agreed to pay their realtor a percentage aren’t looking at your home as they will be on the hook for paying their agent😂😂
You think you did something there but you’re really just about to get bullied in the market 😂😂😂
Great info. Well done
Great video! A lot of people don't understand how real estate agent commissions work.
Thanks! Until I wanted to get my license, I was one of those people!
hi, thx great vid. how a real estate agent can protect himself against not receiving a comission? what if, for example, the seller would not want to make an advance payment to the agent?
Thanks
I’m a new agent thanks for explaining this to me
Best of luck to you!
Question , how important is the coursework in real life ? Do you feel like it should be studied thoroughly or just to pass the exam?
Thanks!
Currently taking classes on Colibri to get my NJ real estate License.
Nice video!
What about the Non-Rep? Can you give an example of who that would be? Also, are they written into the contracts or Listing Agreement
I like your video thx
how much you think average maintenance monthly or annually ?
if I own house then rent it you think is profitable this way and easy to find tenant?
Thank you very kindly for answering this information it's very good, we are getting ready to sell our 2016 manufactured home and we didn't know for sure how even to go about this and you give us the basics has enlightened me.
As a buyer and got an offer accepted, the realtor is asking for a check to be sent from us. Is that right? What would be for?
I did not know that the R E agents fee is negotiable, I agreed to pay 4% -- BUT I already had the buyer so all she had to do was draw up the paper work. I got RIPPED OFF!
In the current market how much does sellers pay in a seller’s market?
I’m looking into selling my mobile home, is the commission fee the same as a house ?
Is it important for a seller to pay the Realtor commission first?
Good information
In texas I'm being told buyer pays their agent 3% and seller pays theirs 3%. Anything else is considered concessions. Does this sound wrong?
Does the money that is paid to either agent come from the loan (mortgage)? So it make the profit from the sale you receive smaller?
Yes and no. I mean the commissions come from the proceeds of the seller. If it was an all cash deal with the buyer, then a mortgage loan wouldn't enter the picture at all. If it was a FHA loan and the bank financed 97% of the purchase amount, then the majority of the proceeds are coming from a loan that the buyer took out, so indirectly you could say that the mortgage helped pay the commissions. It's a technicality really and I would just say that the sellers proceeds of the sale pay the commissions. Great question!
As a real estate broker do you get paid a percentage by your agents and can you sell property's to
Is it really necessary to pay the buyers broker as a seller? I don’t get it, if they just did the job of showing the house to a potential buyer, why is it necessary to pay there compensation as well?
thank you for your video , i have a question has a buyer has to pay any real estate commission?
Obviously you weren't listening.
Can a buyer represent themselves if the sellers agent found you the house?
Do you have to pay the broker if they haven't gotten your house sold at the end of the listing date.
@Jesse Mitchell Thanks for answering
Great video! Can you do a video on buying or building a house?
Sure thing! If you have any specifics you'd like addressed, feel free to email them to me!
usa realtor fees are high af
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Question: if I sell my property and the buyer is an agent and agrees not to take a fee, what happens to the 6% commission then?
I'm no longer an agent, but from my understanding that just means the selling agent would get to keep the entire commission rather then sharing it with the buying agent.
Listing agent gets the full commission instead of sharing it with buyers agent
@@TheFelixRojas hi. What happens if the agent is representing a developer. And buryer is directly linked to that agent.
Why do I have to pay the selling when if he didn’t do nothing?
A very critical point is not explained. Question, Lets say the seller negotiated a 4 % deal with the selling agent. So now the selling agent and the buying agent are splitting 4%. Isn’t the selling agent expecting 3%? How does the buying agent know the selling agent is being honest about the 4 percent deal? What if the buying agent won’t take 2% and will only take 3%?
Those things do get discussed at the beginning. You don’t buy a house and find out how much money you getting. Plus the real estate agents do things under the table that the seller doesn’t know. It still is up to how hangry the buyer agent is. I mean they buy a house spend a few hours and make thousands of $
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I am selling my house and learning the seller pays all the fees, why isn't it share with the buyer since the buyer is the interested. I always wonder this. Is it fair to say the buyer should pay their own agent fee. I understand there are many hands behind the scene, like attorney fees, escrow fee etc etc, What other alternative does the seller have to sell his house
somethings can be negotiated between buyer & seller. You can do FSBO(for sell by owner) market the property yourself & no need for a commission.
The process is rigged in the United States. But, it is about to change if existing class action lawsuits are successful. Here's a simple explanation of the rigged system: czcams.com/video/HPD0r548bHU/video.html
What ethics do real estate agents have to adhere to? When I sold my home, I hired a real estate agent thru a real estate company. The agent failed to disclose to me that he was either acquainted, or was a family member of the buyer. It seemed to me that he was more interested in representing the interests of the buyer than mine. When the buyer's appraisal came back from his bank, it was some fifty five thousand dollars lower than my selling price. Against my better judgement, and yes, it was my fault, the agent talked me into selling the house at the appraisal amount in part because he said I would not be able to sell it to anyone for more. I should have declined the sale or insisted that the buyer find another source for funding to meet my selling price. The agent also told me the commission was not negotiable and that all agents would not take less than 6%. I feel that I was taken abuse of.
As a real estate agent can u get commission if you buy your own home ?
It would definitely make sense.
but if you dont have a house for sale but someone ask you to find him a house do you have take a commission from him when you get a house for him
no, if that buyer buys a house, you get your commission from the person selling the house, not the buyer
Does a buyer ever have to pay commission?
Every time. The buyer is the only person bringing money into escrow. Investors who send "We buy houses" fliers never have an agent. They can offer 6% less, seller gets the same net.
Hi,
Great video. One question I have is as a real estate agent working under a broker. If I want to buy a house myself. Can I represent myself as the buyer agent and get the commission?
Your school sucked...
@@jamesstewart6079 🤣🤣🤣
So much for me to learn, just got fl. license.
This is one of the best scams ever invented. How contracts agents use are worded it does sound like the seller pays. But the seller never pays the listing or buyer agent commission. The buyer is the only one to ever bring cash to escrow. The escrow company then uses the buyer's cash to pay all bills defined in the purchase contract. The seller never has any access at all to the money the buyer put into escrow. Follow the money.
The reason this scam is so awesome is how it motivates buyers to sign away thousands of dollars by falling for "Seller pays my commission. You pay nothing. Totally free." Of course the buyer will sign the contract ensuring the agent gets the buyer's money at close.
The other beauty of this scam is getting people to pay for courses to indoctrinate into the scam, but making it easy enough so many people can become agents even through most will never collect a single commission. They spread the myth sellers pay. They lure people in with that huge commission payday for almost no effort.
I thought the buyer pays 3 percent
6% is off the wall
as a seller, I am seriously exploring selling and marketing my house to save those high fees.
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How the hell do you agree with your client to sell the property at k400 and sell it for k380. You don’t do your home work??
Is there a chance you go back to the client and say he owes you more money because the house you sold for him last year has gone k200 up. Non sense
Fees MUST come down to LESS than 3%. Realtors don't actually add this much value. The law firm, actually offers MORE value (and charges Less than the realtors)!!!!
Real estate agent fees are rigged (and are about to change, via our courts). czcams.com/video/HPD0r548bHU/video.html
People paying cash do not use realitors, title company takes care of everything!!! The agents fee is only worth $500 to $1000 set fee!!! Do not pay by percentage, not much work in selling homes people! Keep your money in your pocket!!!!
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Does the split between buyer agent and seller agent always get split in half?
No, the split can also be negotiated.