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Laurie Keen

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Buyers, please take advantage of the free Laurie Keen and Associates Team MLS access via the links on this website. Before you do, please take a minute to make sure you understand accurately how commissions to Buyer agents are handled. In essence, the Buyer hires the Realtor® and formalizes that relationship via a Buyer Agency contract. As such, while Buyers are contractually committed to pay the Buyers’ Agent, more often than not the Buyers’ agent is paid from the proceeds of the sale.

All commission structures are negotiable, and every transaction is unique in how commissions are determined. To illustrate the above point, consider a transaction where the Seller negotiates and pays the listing agent's firm a commission. In this example, also consider that generally the listing agent secures the Sellers' approval to pay a portion of this commission to a Buyers’ agent or sub-agent for assistance in facilitating the sale. The listing agent keeps a portion of the commission and pays a portion to the Buyers’ agent. Regardless of any possible total or split commission amounts, the Seller is essentially paying the Buyers’ agent their commission… not the Buyer!

Why is this important? Many Buyers assume that by not hiring a Buyers' agent they will save money and help the transaction run smoothly because there is only one Realtor® (the listing agent) instead of two. Generally, the opposite is true. If Buyers call the listing agent directly asking for information or to see the home, numerous things happen:

 

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