If you’re a home buyer, the services of most real estate agents are free to you. Why is that? It’s because the seller’s real estate brokerage pays the fees of the buyer’s agent. In other words, the seller pays for the services of their own real estate broker, and then that broker compensates the buyer’s agent who brings a successful offer.
This is known as a cooperating broker agreement and it’s what makes the residential real estate market go around. The alternative is that sellers would have to rely on one agent alone to work with hundreds of buyers to get an offer. Instead, their agent will market to the buyer’s agents (as well as looking for new buyers) to bring qualified offers.
That makes buyers the real winners here! You don’t have to pay your real
estate agent, and they’ll still work as hard for you as if you were paying
them a king’s ransom. They need you to be qualified, knowledgeable,
and prepared to make an offer when you find the right home!
If you or any of your friends are first time buyers, please
connect with me, so that we can get the ball rolling!