5 Common Myths and Truths About Real Estate Agents
Do you want one? Do they pocket the whole commission? Let's put the facts straight. Buyers and sellers often enter the market with misconceptions about real estate brokers -- how they operate, how the procedure works and what the agency relationship is all about. It is helpful to point out, without getting too much into the weeds, that in any one real estate transaction, there are most likely two representatives: one to the buyer and one to the seller. Here are five myths (and five truths) about working with both purchaser and seller's agents. 1. Agents receive a 6% commission, no matter what Most people assume that their agent is pocketing the whole commission. That would be nice, but it is just not accurate. - Truth First, it's helpful to know that the seller pays the commission, and they split it four ways: between the two brokerages and the two brokers. Finally, the brokerage commission is not fix...