Myth 4: Cut out the realtor, rep yourself and you will save a fast 3%. That is just about never true. The realtors commission - 5 or 6 % in most of the country - is paid by the seller. In most contracts that realtor agrees to co-broke, which means he or she will split his commission with a buyers agent. Explained Sam DeBord, a broker with Coldwell Banker Danforth in Washington State: Most listing agents sign a contract with the seller for a certain commission percentage - for example, 6%. They offer to share a portion of that if a cooperating buyers agent enters the picture - for example, 3% - but if there is no buyers agent involved, the full 6% is still paid by the seller to the listing agent.
Posted on: Mon, 11 Nov 2013 19:11:14 +0000
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