Quote:
Originally Posted by duyh
A lot of ill informed home buyers on this forum.
I will try to summarize this in a way that everybody understands.
1. Seller hires a listing agent.
2. Listing agent and seller negotiate on a commission amount that will be split between the listing agent and the selling agent.
3. When the house is sold, the seller will pay the listing firm the entire commission and the listing firm will than pay the selling agent their share of that commission. If there is no selling agent the listing agent will earn 100% of that commission.
As for finding a broker, find somebody you trust and feel comfortable with.
Technically you can hire the most experienced seasoned realtor or a rookie who has no idea of what to do for the same amount of money.....free. At the end of the day find somebody you think will have your best interests at hand and will work hard for you.
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Tl;dr version:
person says hay i want to sell home
agent go hay ill sell home for 6%; 3% to buyer okay derp?
hookay
Buyer agent (repersenting derpina buyer) hay derpina wants to buy derps home!
Hnnnnghhh okay sign here
Derp and derpinas agents negociate close with title company(s)
derpina lives happyly ever after and hngghhs all day long
