Why in the world would I want to pay
the buyers agent 3%?
Because they have the buyers!
Qualified buyers use Realtors to find their homes a large majority of the time. Realtors find almost all of the homes they sell in the MLS. Like it or not the current way that the industry is set up is with the seller taking care of the real estate agent commissions, on both sides.
As long as you offer to pay the buyers agent for their time and effort they WILL bring their buyers to your home!!
Why would you go to all the trouble of getting your home prepped and ready for the market, getting it listed in the MLS, only to then shoot yourself in the foot by not offering the going rate of commission to the buyers agents in your area?
Do you work for free? Well the buyers agent doesn’t either. It’s up to you ultimately, but if you want to get your home sold we very highly recommend that you offer to pay the buyers agent 3%.
Common FAQs About Realtor Commissions
What is normally paid for a Buyer Agent Commission?
We suggest home sellers offer whatever the market bares in your area for buyers agent services in many areas this is 2.5 to 3% to the agent you brings you a buyer.
Should I offer Agent Bonuses?
Buyers agents have a fiduciary duty to their clients. They will be searching for the best home in their clients price range that provides for the client’s needs. They should not search for homes for their clients based on whether or not they will get a bonus. You may be better off reducing the price of your home to attached more buyers.
How do commissions work?
The seller contracts with a Realtor to sell their home. The contract states how much commission is to be paid in total and what portions are to be allocated to the sellers agent and the buyers agent. The agent(s) are then paid by the seller at the closing for their work in selling the home.
Can’t I just ring the door bell on a house for sale and negotiate a sale with the owner in order to save myself a bunch of money on Realtor fees?
No. The reason why is, the sellers list their homes with Realtors in an exclusive right to sell agreement. In that agreement the sellers agrees to refer all buyers to the Realtor® even if the seller does “find their own buyer” they will still owe the Realtor the full commission per the terms of the Exclusive right to sell agreement. Unless you list with Solid Realty Group, LLC., we do things a little different.