Often when I am working with buyers who are in a Miami real estate search for condos and homes, there is a little confusion about who is responsible for paying commissions.

Depending on where you are from, there can be different customs or regulations for how your real estate agent’s brokerage gets paid.  If you have someone working for you, it’s important to know how they get paid.

Generally speaking in our area, buyers and sellers have their own agent. If a seller wants to sell a property and hire a real estate agent they will list the property for sale in our local MLS. The commission structure and how it is paid, is initially negotiated between the seller and his listing agent on the listing agreement and it’s also listed in our MLS database.

Generally speaking, both the buyer and seller brokerage commissions are paid by the seller’s side.

However, there are times when a buyer maybe have to pay for commission and these cases could include:

• Distressed properties where the seller cannot pay.
• Listings where the commissions are a little lower than what the buyer’s agent wants to work for on a transaction.
• For Sale By Owners
• and more…

It’s important to understand these scenarios in advance and know if there could be scenarios where you could be responsible for paying your agent’s brokerage commissions or not.

Copyright © By Jamey Prezzi 2012 * All Rights Reserved* In Your Miami Real Estate Search, Do You Know Who Pays Commissions?

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