Wednesday, September 11, 2024 / by Jason Starr
Do You Still Have To Pay The Buyer's Agent Commission?
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There’s been a lot of confusion lately about real estate commissions, especially with all the lawsuits and media buzz. If you’re selling your home, you might have wondered whether you’re responsible for paying the buyer’s agent commission. Let me set the record straight.
In New Hampshire, we’ve had a buyer’s agency agreement for nearly 30 years. This allows buyers to choose an agent to represent them when purchasing a home. Because of this, many people assume the seller is responsible for covering the buyer’s agent’s commission. However, the truth is, it’s actually the buyer who ends up paying.
Here’s how it works based on my experience: When I list a home for a seller, we negotiate a fee for my services. In the past, part of that fee could be shared with a buyer’s agent if they brought a qualified buyer. Here’s the key—no one gets paid until the buyer writes a check at the closing table. That check covers the cost of the home, along with all other expenses, including agent commissions. So, when all is said and done, it’s the buyer who’s paying for everything. While this isn’t often highlighted in the media, it’s how the process has always worked.
Another important point to remember is that commissions are always negotiable in New Hampshire. Both the listing agent and the buyer’s agent can negotiate their fees with their respective clients, so nothing is set in stone.
Thanks for taking a few moments to let me clear this up. Time is one of our most valuable assets, and I truly appreciate yours. I hope this information helps you feel more confident as you navigate the home buying or selling process. If you are looking for someone to help you with your real estate deals, you can call me at 603-293-7227. I look forward to helping you make your real estate transaction a smooth sailing experience.
Maximize Price | Confidentiality | No Pressure. Schedule a no obligation 1-on-1 call to maximize your sale. Book a Call
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