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/u/negme
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Ok apologies in advance for the millionth post on commissions. I have been reading about the recent NAR settlement and potential changes that might come with it. One thing that i am realizing is that i don't really know how things _currently_ work.
I bought my house ~8 years ago and, at the time, my agent told me the seller pays his commission when we close. I assume this was a typical 3% - 3% commission structure but i really did dig any deeper into this at the time. However, with the NAR settlement i am wondering about the following things:
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Commission questions
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I bought my house ~8 years ago and, at the time, my agent told me the seller pays his commission when we close. I assume this was a typical 3% - 3% commission structure but i really did dig any deeper into this at the time. However, with the NAR settlement i am wondering about the following things:
- At the time i signed a representation agreement with my agent. Is it typical for these agreements to have something that guarantees that the buyers agent gets paid. Like if i wanted to buy a house that offered 0% buyers agent commission would i have been on the hook for paying my agent something?
- Do buyers agents steer clients away from houses with low commissions? Seems unethical but is this illegal?
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Commission questions
Continue reading...