What??? I Don’t Have To Pay The Buyer’s Agent?

Its a funny thing, understanding how buyer and seller agents are paid in a Real Estate transaction… Simply put, most buyer’s agents receive compensation for the work provided to buyers, from the seller of the property.

Sellers or buyers in Massachusetts must sign a document called the “Massachusetts Mandatory Licensee Consumer Relationship Disclosure“.  This document is “NOT” a contract, its a form that states what services the agent you are speaking with would be providing and what their duties would be should you sign a contract to buy or sell a property with them.  If you are speaking with an agent, in a formal setting reviewing paperwork and this has not been presented to you (in Massachusetts) you need to consider the person you are speaking with.  This form is mandatory in our state.  After reviewing that document, a seller in our office is presented with a contract titled, “Agreement for Exclusive Right To Sell, with Consent to Designated Agency“.  On this contract the Seller and Seller’s Agent determine the total commission being paid by the seller to the agent to market the home effectively in today’s market.  And the best part of it for the buyer is the commission agreed upon is split between the buyer and seller agents.   There may be some instances where a fee may be paid by the buyer to the their agent, but that is few and far between.

The best thing about having an agent working with you is that they are the Professional you need to accomplish the task of buying a home.  Just like an architect, understanding the process of building a home; you need an experienced guide to home buying to assist you in addressing many aspects of this process.  An agent is your representative in helps you in completing the Offer for submission, understanding the Home Inspection, the various rules involved in a real estate transaction, Negotiations and addresses and unforeseen issues.  All that and so much more…

Now that you, the buyer, understand how your agent gets paid and some of what he or she does… you must be feeling a weight off of your shoulders…Of course there are fees you are expected to pay at the Closing and there’s still the job of connecting with the right agent.  You need to make sure that your needs are of the utmost importance to your agent; you must also feel that you can trust this person whole heartedly…

Lastly, if you need to start somewhere, start with me… or you can meet others and come back to me…  I came to this business to build lasting relationships…I hope to do that with you!

  • well i guess it’s just that if you’re not paying then the other party is, for sure

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