| do you pay a real estate agent even if I decide not to buy?

do you pay a real estate agent even if I decide not to buy?

boys_cheat asked:


My hubby and I are planning on looking at homes to buy. However, we are not 100% sure that we want to buy –it depends on what we find, we may not find one we like and go with renting. If we look at homes, do we have to pay the real estate agent that shows us the homes?

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Comments

6 Responses to “do you pay a real estate agent even if I decide not to buy?”

  1. mvpwarner13 on June 16th, 2009 5:51 pm

    You don’t pay a buyer’s agent. They get a split of the commision with the seller’s agent, which comes out of the seller’s proceeds. (typically a 3%-3% split).

  2. ed on June 18th, 2009 8:37 pm

    No.
    Only if you have committed to a contract and break it.
    If you have paid a deposit and it is enough, it may be divided between the seller and the agent’s commission.

  3. Jennifer S on June 22nd, 2009 6:01 am

    Only if you signed something saying you would pay them a fee for helping you.

    That’s not a common thing but some realtors do it. Most times they are paid put of the seller’s proceeds.

  4. es on June 22nd, 2009 4:50 pm

    Realtors are paid by the seller, not the buyer. The real estate commission is split between the buyer and seller’s agents. It doesn’t cost anything to use a realtor to represent you in the purchase of a home. Some agents require that you sign a buyer’s representation agreement with them. That way, they represent you if you find a home, whether they show it to you, or not. This is also negotiable. You can sign a buyer’s representation agreement for the properties the agent shows you, the day you go out with him, and limit your agreement to just those properties.

  5. Dizzy_Lizzy on June 26th, 2009 4:25 am

    Not at all. Agents don’t make a dime unless there’s a completed sale, and if you do but, normally your buyer’s agent’s commission is paid by the seller.

  6. Terry S on June 26th, 2009 6:16 am

    Only if you go behind the back of the agent and buy from the seller cutting out the Realtors.

    Yes, it does happen, but not very often.

    Agents only get paid IF THE HOME CLOSES.

    They live in the real world of pay only for performance.

    If the agent cannot find you your dream home, then they don’t get paid.