Buyer's Agent and Buyer's Agent Fee
If you’re looking for a new place to call home you’ve probably considered working with or, are already working with a real estate agent. In other words, you as the buyer, have a “buyer’s agent.” The role of the agent ranges from, sending you properties that match your criteria, scheduling tours of the homes you’re interested in and helping negotiate the purchase price, to attending the final closing.
What many people don’t realize is, some agents charge the buyer what’s called a, “buyers fee.” When an agent sells you a home, they automatically get a percentage of the sale. Meaning, they get paid for the work they put in. This is why many home buyers are surprised during closing when they are asked to pay a fee on top of that.
To avoid confusion, be sure to carefully interview your agent before you begin working with them. Ask if they charge a buyer’s fee and if so, what that fee is. Remember, this is not a standard fee nor is it the current norm for the industry and not all agents charge this additional fee. Please feel free to contact us for additional information about home buying (we do not charge a fee) and home selling!