We work 100% on commission and it’s generally based on a percentage of the overall sales price. We don’t get paid until you close! Our fee typically comes out of the seller’s proceeds while buyer’s generally pay nothing to the agent who represents them.

Honestly, most folks never put much thought into how real estate agents make money – neither the commission percentages nor from which side of the deal the fees come. Obviously, one must assume compensation comes from somewhere, or no one would be in business. Office furniture, copy machines, and yard signs don’t pay for themselves. Usually, about the time people start thinking about buying a home, they start to wonder how real estate agents get paid.

Most buyers are surprised to learn that real estate commissions come from the “sell side” of a deal. Meaning, the fees get worked out between a seller and their listing agent when a house is put up for sale. Then when the home is sold, the seller’s agent splits the listing fee with the buyer’s agent. Thus, buyers aren’t on the hook for any costs, just the sellers. While there are a few agents who will represent buyers for a flat fee or work on an hourly basis, those business models are not widely used. By far, the most common practice is to follow the age-old commission split between the listing broker and the buyer’s representative.

No!  Anyone who has bought a home, sold a home, or just looked at homes, has heard of websites such as Zillow and Trulia.  These third-party real estate websites are not local to every real estate market and are automatically computed daily based on millions of public and user-submitted data points. Even their own website (Zillow.com) states their values are merely a starting point in determine what your home is “worth”. It’s critical that when selling your home, the value is determined by an educated and experienced Realtor in your local area, not an internet website!

An accepted offer simply means the seller has already contractually agreed to sell their home to a primary buyer. In most cases, the seller will not allow showings while under contract, but some will entertain additional showings and potential secondary offers. Secondary offers, however, remain in secondary position all the way to closing unless the primary offer falls apart.

If a home buyer is obtaining financing from a bank, the bank will complete an appraisal.  When performing an appraisal, the appraiser is looking for potential safety hazards or concerns.   Some common bank required repairs include missing handrails, broken windows, peeling paint, missing electrical covers, and roofs that are in very poor condition.