By: Serena Anderson
If you have ever wondered about this, you are not alone!
The answer, the sellers pay it. When working with Realtors; this commission has already been negotiated and has been recorded in the MLS. It is typically part of the sellers closing costs.
Why does the seller pay for it? It has always been the norm that the seller hires the agent to sell his/her house.
Its 2 fold:
Part of the process is all the responsibilities of the listing agent- the marketing, open houses, scheduling showings, etc then there is the part of coordinating the Buyers Agent side to fulfill the sellers wishes which was to sell the home.
In modern days, these two are split into two categories and its best to not have one agent doing everything for the seller and the buyer. Its ideal to have one agent doing the seller tasks and the buyers agent doing the buyers tasks.
Because it is important that each party has their own agent to truly represent them and someone who has their interest in mind. How can you serve two masters?
How can you tell the seller, yes, I have your best at hand and then you also trun around to the buyers and tell them you have their best at hand… Ok so which is it?
Its a tough one! In many states its against the law to have one agent helping both the buyer and the seller.
In Billings Montana duel agency is allowed, but something you should think twice about. Is this really the best idea? In our office, we will have two agents handle the translation if needed.
Because the commission is already separated by the buyer agent and seller agent then it only makes sense to have two agents working the transaction.
Let us help you!
We have a cool program to help you get money for down payment and closing costs! Check out this program- between the lender and us we can get you over 3k and you dont have to pay it back!
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