How Does a Buyer's Agent Get Paid?
Photo by Jesus Kiteque
There are two main ways that I get paid for the
professional services and solutions that I provide.
Buyer Broker Fees Paid By Seller:
First, when you buy a house, I get a commission. The commission is usually a percentage of the sale price, and I get that at the closing at the same time that you get your keys to your new home.If a property is listed for sale on the Multiple Listing Service, then that seller has almost always agreed to pay my fee themselves.
With a house that’s a “for sale by owner” we always start by asking the seller to pay the buyer brokerage fee. Most of the time they do. If they don’t, then you may be asked to make up a difference. Most importantly, none of this will surprise you. We’ll know what terms we’re dealing with before we have you in contract on your new home.
Introductions and Referrals:
The second way that I get paid is through introductions to people you know who are looking to buy or sell real estate. The numbers change from year to year, but on average 65%-70% of my clients come to me by word of mouth and by personal or professional referral.
Benefits to You:
When you introduce me to those people, and recommend me, then that frees me to spend more time providing top tier professional solutions to my clients, and less time calling and emailing internet leads (it might surprise you to know there are so many people named “Mickey Mouse” in Central Vermont).
The more time that I’m able to spend scouting properties, negotiating, and problem solving for my clients, the happier they are. It also shows that you care, that you wanted them to have the best experience, and not just pick someone off the internet and have them show a house.
So, I’ll ask from time to time who you know that I should talk with, who could use my help.
Benefits to the Community:
Green Light Real Estate will also make a contribution to a group, charity, or organization of your choice when you introduce your friends, family, and coworkers to us. We’ve made donations to school PTOs, child care centers, the food shelf, the American Cancer Society, domestic violence relief groups, little league baseball, and many more organizations.
When you recommend me, I’ll send a reminder note asking which group you’d like Green Light Real Estate to support.
Have more questions about the home buying process?
Call 802-225-6425 and speak with any of our awesome agents and brokers
Or email Info@GreenLight-RealEstate.com.