Question:
Aren't all agents in a real estate transaction are ultimately paid by the buyer. Granted no "extra" money needs to come out of the buyer's pocket at the beginning of a house search, but in the end we are paying for it. Right? - Rachel
Answer:
Rachel, Thank you for your feedback.
You could look at it that way, but then you would have to say that a person who buys an automobile pays the salesperson's salary, or that you are paying the toll booth worker's salary when you cross the Tobin bridge.
Whenever you buy something, you are ultimately paying for (or at least part of) someone's salary.
A buyer's agent does not get paid directly from the Seller. They are paid by the Listing broker. In most cases the Seller pays the same amount whether there is 1 or 4 agents involved in the sale (and yes, there are many times when there are more than 2 agents invloved in a transaction).
I think what you are inferring to is that if there were no agents involved, a buyer would pay less for a home. A good buyer's agent can actually save you money, whether it is on the price of the home itself, inspection issues, knowing where to get the best mortgage, or any number of things that may be missed by the average homebuyer.
I am always open to hearing some feedback about any of the emails I send out. Please feel free to write to me any time you have a comment, suggestion or question.
Jim Armstrong
jim@armstrongfield.com
1 comment:
I can't imagine anyone buying a house without using an agent. My agent helped me so much when I bought my house, and we got it for quite a bit under the asking price. Not to metion he pointed us to contractors who did a great job of some remodeling work.
Claire
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