Who Pays the Real Estate Agent?

People buying a home for sale in Colorado Springs have a lot of questions. Since buyers, especially first-time home buyers have to consider the expenses that come along with their loan. Some think they may also have to consider in their expenses, paying their real estate agent. Different states and areas have different customs.

In MOST cases in our area, the seller agrees with their listing broker to pay a commission that includes a split for the Buyer's Agent or Transaction Broker working with the buyer. There are cases where the seller is a For Sale By Owner or few other instances where the seller will not pay. As a responsible agent, I notify any clients if I foresee a problem with the commission and if they will be expected to pay. This commission disclosure is included in the MLS, so agents know before showing a property. This information is not available on the public site, but can be easily discovered by members of the real estate board in the MLS.

This leads to another topic... can I help you buy a NEW construction home, the answer is YES!! Some people think it's easiest to just go into a new build site and buy a home yourself. Sometimes it is, but a local real estate professional with experience can assist you in reviewing the builders' mondels and other homes under construction.

If a real estate agent has worked here a while, they have experience with most builders and know if they have a fair, good or stellar reputation. I can help you do your research. As nice as the sales people are, they are representatives of the builder! Buyers have the right to a home inspection even in new construction. Although builders have regional building requirments to abide by, no home is perfect, even a new home... extra inspections can be very helpful!! If I help you with a NEW home, the builder agrees to pay us as well... as long as I accompany on your visit, or you tell them you are represented by a real estate agent.

If you are considering Relocating to Colorado Springs, Purchasing a Home for Sale in Colorado Springs, considering Selling a Home in Colorado Springs, or want more information on the Colorado Springs Real Estate Market, Contact your Colorado Springs Real Estate Expert, Mike MacGuire Today!

Comments

Colorado Mortgage Resource said…
This article has so many great points for first time home buyers. I'd love to incorporate it into a blog on the First Time Home Buyers Blog on my website www.comortgageresource.com. Thanks for posting!
August 16, 2011 at 10:41 AM
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