Buyers's Agent-real estate?

**5918mike** · 07-26-21, 02:38 PM

Mine worked for me and was paid by the seller.

**Foxx** · 07-26-21, 03:48 PM

I think the agents split the commission.

**MinnesotaFats** · 07-26-21, 03:50 PM

Yes, the listing broker gets a 5% (roughly) commission and that's split 60/40 normally w the buyers broker.

The agents (if not the broker) then split their shares 60/40 w their broker.

**5918mike** · 07-27-21, 01:40 PM

Our seller offered 5%, it was split 50/50 between the 2 agents. When I sold my agent took 1% and we offered the buyers agent 3%.

**LongBall52** · 07-27-21, 04:33 PM

I was really in a dream state. I knew a couple of things. 1. That to avoid paying more on a mortgage you needed to put down 20% of the purchase price, avoiding private mort. insurance (pmi). 2. the real estate agent assigned to you back in my working government days, wanted you to be "pre-approved" for the mortgage loan".
Not knowing where to turn, I went to my bank and saw "Lending Consultant" person. Like everything else buying even a condo, now "closing costs" are something, other than money that could simply be turned into the mortgage no longer exist for people of my income anyway. The consultant says that I would be approved, but of course her computer gave the "ERROR" message. The bs never seems to end.
First of all she tried to get me to take BkofAma' program called America's Home where they pay some costs. From there she tried to convince me that the seller's agent would not know that I was using the plan... (It's for those seniors making under $65,000 per at age 65).
I really believe that all these agents sell the same loaf of bread ( the place to live), so I don't fully believe that.. All I have to do is complete an online course for the money. IOW Let's take a $200k property. I'm going to put down $40 k. But the closing costs are going to be $13K. With their program, i only put down $35, XXX k and the rest of closing cost is under the program at $3.125% mortgage. Now if I don't want to use the program, my interest rate will be 3.375, plus more at closing. This has become a game today.