Hi, nice video. Who pays for buyer's agent? What about seller's? Does the 5% commission cover both parties' agents fee, meaning do both parties agents split the 5%?
For a sale, the standard is for the seller to pay the 5% commission which will then be split between the seller's agent and the buyer's agent. But developers often don't like to pay the 5% commission - they often pay between 1% to 3%. So then the buyer's agents are forced to charge their clients a commission as well to make up for the shortfall. Many buyers are displeased with this but agents often defend the commission request on the grounds of rendering their services to their clients (the buyers).
Hi, nice video. Who pays for buyer's agent? What about seller's? Does the 5% commission cover both parties' agents fee, meaning do both parties agents split the 5%?
For a sale, the standard is for the seller to pay the 5% commission which will then be split between the seller's agent and the buyer's agent. But developers often don't like to pay the 5% commission - they often pay between 1% to 3%. So then the buyer's agents are forced to charge their clients a commission as well to make up for the shortfall. Many buyers are displeased with this but agents often defend the commission request on the grounds of rendering their services to their clients (the buyers).
@@GhanaGroundUp very helpful! Keep it up!
Many thanks 🙏🏼