Who pays the commissions to the Real Estate Agent?

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Estee Soto

Date Published: 2021-03-24

A Real Estate Agent or REALTOR®is an advisor that specializes in the buying and selling residential and commercial property. He or she is a member of the National Association of REALTOR®, a professional association with more than one million members in the United States and more than 39,000 in the state of Florida.

The advice of a Real Estate Agent when buying a property is essential, because they know the financial, tax and legal environment of Real Estate. An experienced Agent will respond to questions from customers, in addition to having the knowledge, contacts and resources needed for the sales transaction to be successful.

In a purchase or sale of a property, there are generally two Real Estate Agents involved, one who represents the seller and another who represents the buyer.

Usually the person selling the property is responsible for paying a commission that is usually between 3% and 6% of the sale price, which means that the buyer does NOT have to pay the commission and should not worry about this. Payment of the commission of the REALTOR® is included in the work of the “House of Titles”.

When you buy a property from a Real Estate Agent, this has no cost. The only one who pays the commission is the party who sells the property.

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Defining the sale price of the property is of vital importance to start the sale process and it is at this point when the help of a qualified REALTOR® is vital.

The Real Estate Agent will ask you questions at the time of your hiring, such as: Do you want to buy another property with the money you get from this one? In case you are currently inhabiting the property, how long after the sale do you need to vacate it?...

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