Buyers, Don't Get Scared Now

Even though a lot of people tell me they "know how it works," unless you've flipped several houses and buy and sell real estate regularly, through a real estate professional, you can't really know how it works.

The buyers don't pay the commission. Usually. Unless it's been established ahead of time. And that's not the norm. The seller pays the commission.

Even if you are part of a Buyer's Broker Contract, don't get scared now. You still don't pay the commission, unless there's a clause in there that you've discussed with your real estate agent.

The seller pays the commission. It's usually the most expensive part of the sale. That's why so many people want to sell their properties themselves. They'd do better to just raise the price a bit to cover the percentage. Although most people have already raised the price just a bit anyway, because there needs to be some room to negotiate.

I know there is some controversy about using real estate agents, but if you choose one that you are comfortable with, the transaction usually goes smoothly - whether you are a seller or a buyer. And the seller USUALLY pays the commission. So, Buyers, Don't Get Scared Now. Sign that Buyer's Broker Contract. You'll have someone working for you for free, weeding out the phone calls that you don't want, and matching you up with a property that really fits!