This year I will be refreshing & updating some info from previous episodes. I am excited to kick off the new year with a 3 part series on Commissions, Concessions and Conveyances. Today we discuss Commissions.
Commissions is how real estate agents get paid. It’s a percentage of the total sale of the home. There are no set commissions and every agent and firm is different. Check with your agent to discuss not only their commission but what you are going to get in exchange.
The seller usually pays the listing agent a percentage of the sale and the listing agent splits that commission with the buyers agent. This isn’t always the case, but is more common than not.
One thing to keep in mind is that agents don’t get paid until the house closes. Another thing to consider is that if the home doesn’t sell, the agent doesn’t collect any money. I have a deeper dive on Commissions on my YouTube channel. There’s a lot of additional content as well. Until next time…Welcome Home
Chris Whitehurst
Rose and Womble
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Chris Whitehurst