HOW ARE YOU PAID FOR YOUR SERVICES?
As a seller, you pay my brokerage a percentage of the sale at closing. This, along with customary closing costs for a seller to pay, i.e. title company fees, closing fees, search fees, are taken out of your proceeds at closing. My brokerage then pays me a percentage of what they have collected. If no CLOSING occurs, I am not paid anything. Out of this amount I pay my federal and state income taxes, my desk expenses (what it costs me to work at my brokerage), and all of the marketing costs that I have incurred while trying to sell your home (i.e. signs, flyers, brochures, internet advertising, etc).
As a buyer, the seller is agreeing to pay my brokerage a percentage an amount offered in the MLS to successfully bring you to closing on their property. If there is no closing, I don’t get paid anything. So, it’s important to know that while I am showing you homes, there is no fee; there is no fee for my advice, consultation or time spent working with you to find you a home. As long as the seller is agreeing to pay for my services (i.e. if it is in the Multiple Listing Service, aka MLS, the fee they are paying me is clearly defined) my services are paid for by the seller.
It’s important for this reason to go over your rights and obligations as a buyer under a buyer’s contract. Most “For Sale By Owners” will be glad to compensate me for bringing you to their home to purchase, as there are many other things to be performed other than just getting a contract signed to purchase their home. Most sellers don’t have access to what needs to be done, and don’t have the time to complete these duties.
For a free consultation about how to buy or sell a home, contact me today! Fill out my “Seller’s form” and I will be in touch with you immediately.
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