Who Pays Your Realtor When You Buy or Sell a Home?

Posted by on Wednesday, July 19th, 2017 at 9:25am.

One of the most common questions we hear from first-time homebuyers is, “How will the realtor be paid?” Beyond not knowing how the realtor fees are covered, many buyers and sellers also don’t know exactly what a realtor does (even though they know they need one).

The good news is, if you’re buying a home, you do not have to pay the realtor to help you. Typically the seller pays all of the fees in a real estate transaction. At no expense to you, you can have a local real estate market expert be your advocate during the home buying process. There is a lot that goes into the home buying process, and your realtor will help you every step of the way.

Another surprising fact to some home buyers and sellers is that your realtor will not get paid unless you purchase a home or sell a home and make your way to the closing table. This is great accountability to know that your realtor is working hard for you during the entire process.

The seller will pay the commission at the closing table, normally 6 percent of the sales price, which will then be split several ways. The split will usually happen among the listing agent (the agent who is representing the seller), the listing broker (the brokerage where the listing agent works), the buyer's agent (the agent who represents the buyer) and the buyer's agent's broker (the brokerage where the buyer's agent works).

Sellers, the idea of paying the realtor commission shouldn't worry you! There are many good places to save some money in life, but real estate transactions are not typically the best place to do so. A good realtor will help you price your home to earn you the highest amount possible in the least time on the market. The realtor will handle endless calls, negations and paperwork, so you don’t have to. They will also spend money out of their pocket in order to market your home in the best way!

Here are just some ways The Torgerson Team works to help sell your home. To read a full description of our marketing plan, click here.

Online Presence - In today's market, over 97% of buyers are finding their next home online. To make sure your property is seen, we place our listings on over 350 search engines and over 76,000 websites!
Custom Website - Buyers are Googling addresses, and we want to be sure you're found! We will create a custom website for your property featuring a map, school zoning information, photo gallery, virtual tour, video, and a full description.
Professional Photos - In today's market, professional photography makes a significant difference in the speed of your home selling. With most buyers finding their next home online, quality photos generate more showings and faster sales. We will hire a professional photographer to capture your home in it's best light!
Video Tour - We will build a custom virtual tour designed to engage potential buyers and showcase your home's unique characteristics. The virtual tour will be place on the MLS and on popular real estate search sites. We will also produce and publish a YouTube video for your home to be used in various forms of advertising and marketing.

So you can see, this is just a short overview of what exactly a realtor does, how they get paid and why they are worth every penny to either help you find your dream home or sell your home at the best price possible! If you are a homeowner looking to sell your home, check and see how much your home is worth with our Home Valuation Tool. If you’re a home buyer and are looking for more information on buying a home, click here to learn more.