Jan. 7, 2007 - How does the Buyer pay their Real Estate Agent

Real Estate Commissions: By avoiding the subject , as the process does, you may be overpaying for the services you need in purchasing a home.  If you are buying a property for more than $400,000, that is more likely to be the case than if you are buying your first condo for $150,000.

If you are pre-approved for financing, have salaried income, have been working at the same company and job for two years or more and have a fairly good idea of exactly what you want, you may be able to get some money toward your closing costs.

Different agents will react differently to the issue of the Buyer Agent Commission.  Some will not want to talk about it at all.  Before hiring an agent, ask them what you will be paying for their services.  If they say that it is free or that the seller pays it, ask if the fee is negotiable between you and your agent.  If they say no, or there is no fee, find another agent.

Times are changing, and pretending the services you need are free to you, is no longer acceptable.  It insults your intelligence and is a red flag that the agent is not working for you.  If the agent is working for you, then you should be able to discuss the fee for that service.

Many buyers LIKE that the service is free or that someone else is "paying" it, but really you are paying it because it is included in the sale price.  So don't be lulled into the conclusion that you are better off if you do not have to talk about it at all.