OfflineSomething I've never really thought about until now. How does an agent get paid when a seller does financing?
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Success and Nothing Less!
Agent's Pay on Seller Financing
Posted on: Sat, 10/31/2009 - 20:39
Something I've never really thought about until now. How does an agent get paid when a seller does financing?
Success and Nothing Less!
If the real estate agent represents the seller, the seller is still obligated to pay the real estate agent the commission. If you are the buyer and your agent finds a FSBO, you should work out a payment with your agent. A key rule of thumb is create win-win deals and keep everyone happy with payment. Sometimes even a real estate may take their commission over time if it means selling a home that has been on the market for a while. I hope this helps. Happy Halloween. Believe and Achieve!
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I was wondering about that, too. If you don't already have a Promissory Note with the agent, they have to make their commission at closing. So, any "no money down" deal would have to either pay that commission with credits coming form the seller, or the deal would have to pay it some other way, right?
Paul: "I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when my fear is gone I will turn and face fear's path, and only I will remain."
Duke Leto: "I'll miss the sea, but a person needs new experiences. They jar something deep inside, allowing him to grow. Without change something sleeps inside us, and seldom awakens. The sleeper must awaken." - "Dune."
What if we both have an agent? The agent I've been working with showed me the property and the seller listed the property with the agent. So the seller would pay 3% to the listing agent and buyer's agent correct?
Success and Nothing Less!