Whether you are Selling or Buying, if you agree to work with an agent by signing a listing agreement or a Buyer’s Broker agreement, you have agreed to pay a commission. What? But aren’t the Sellers suppose to pay the commission? Usually. This is how it works. When a Seller lists their home for sale with a brokerage firm, they have agreed to pay that brokerage firm a commission. That commission can either be a set dollar amount or a percentage of the final sales price. The Seller’s agent, when the property is listed in the multiple listing service, agrees to split the agreed upon commission with any other brokerage firm that brings a contract to purchase and the Seller accepts. If the listing agent or another agent working for the listing brokerage brings a Buyer, the listing firm receives the entire commission. That commission is then divided between the listing agent, selling agent, listing brokerage and if there is a separate selling brokerage, the selling broke
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