Article

Did you know that as a buyer of a home, you do not pay any commission to any real estate agent* or broker** involved in the transaction? These fees are paid by the home seller and are included in the seller's closing costs as a deduction in the proceeds of the sale.

This means it doesn't cost you anything to look, but as a courtesy to the agent you have chosen to show homes to you, remember that they are doing so wholly at their own expense with the hope of receiving a share of the listing agents commission when you do purchase a home.

If you purchase the home through a different agent, purchase a home for sale by the owner or change your mind and don't purchase a home, then the agent you originally chose does not get paid at all. That is why the agent you choose to show homes to you may ask you to sign an agreement that you will work with them exclusively for a set period of time, which only seems fair.

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*A real estate agent is someone who has had the required agent training, has passed the exam, has been licensed by the state and is required to work under a broker's license as an independent contractor, not an employee.

**A real estate broker is someone who has been a real estate agent for the amount of time required by the state, has had the required broker training, has passed the exam, has been licensed by the state and bears all of the legal responsibilities for agents working under their broker's license.

For more information about "Agency", click on the "About Realtors" link.