Consumer advocates strongly recommend that buyers hire their own agents.
They further argue that a coop-fee has already
been built-in to the purchase price, and therefore, there is no need for
the buyer or seller to incur additional fees when
the cooperating agent represents the buyer.
Why would a Buyer Agent want to negotiate a lower price for the Buyers?
Won't that reduce your commission?
The way a Multiple Listing Realtor Co-Broke normally works is that on
a 5% commission*, 2.5% would go to the Listing Agency and 2.5% to the Buyer
Agency on behalf of the Homebuyers. The commission is then split again
50/50 between Buyer Agency and the Buyer Agent.
Thus for every $1,000 that we reduce the sales price for you, your Buyer
Agent's commission will only be reduced by $12.50. It is our job to make
sure that you are an extremely happy, fully educated Real Estate consumer.
*Commissions are not necessarily always 5% and are
negotiable. This figure is used as an example only.
