How much do I pay an agent to help me buy a house?
Hey, this is Cherine Anderson your power realtor with another power tip.
I’m going to explain to you how real estate brokers are paid.
When a property goes on the market through a real estate broker and agreement is made between the realtor estate company who we call the broker and the seller. Now as a part of this agreement a fee is agreed on for the real estate company’s services. For home sales, there are generally two (2) real estate brokers involved in one deal. One representing the seller and one representing the buyer. Sometimes, buyers go directly to the listing agents which would mean there’s only one realtor or one broker involved in the process.
Now, agents who represent the buyer, were going to call them buyer’s agents, they are compensated by the real estate company that originally listed the property, you get that? So when a home is sold, that broker who originally listed the property, the fee they negotiated with the seller is split between them and the agent who took the buyer to the table.
So no, you don’t pay your buyer’s agent in Jamaica any extra fee to represent. So buyer’s agents are really compensated by the sellers.
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