Posted by Bill Jacobsen on October 03, 2007 at 17:20:33:
The seller and the seller’s agent negotiates the commission. For instance, if they negotiate 6% the split is usually 3 and 3%. It could be 3.5% to the seller’s agent and 2.5% to the buyer’s agent.
If you are the seller you want the buyer’s agent to get at least the going rate which in our area is 3%. I will sometimes pay a total of 7% so that the buyer’s agent will get 4%. I do this to make sure that my houses get shown by buyer’s agents.
Posted by Tony Singh on October 03, 2007 at 11:38:41:
My agent found a potential fixer upper property listed on the MLS, Since I’m planning on wholesaling to another investor I wanted to ask who exactly pays both of the realtor’s involved and also on the hud-settlement docs does it show the names of realtors involved? does My name also come up?