Have you ever wondered how your buyer’s agent gets paid? If you have ever sold a house, you know that both the listing and selling agents typically get paid by the seller. Most agents only get paid by commission. With the exception of maybe a brokerage here and there, it is extremely rare that a real estate agent will get paid a salary. This is why most agents strive to provide you with the best possible service. They want your business.
Precisely because it is a business heavily dependent on commission, it is a very competitive industry. Some buyers may not realize that if they walk into an open house and sign a purchase agreement with the listing agent, the selling agent who has shown them homes for months and spent endless hours preparing them to buy their dream home, will never get paid for all that work. Buyers please communicate with your selling agent first before committing to someone else who does not represent you. Your agent owes you undivided loyalty and looks out for your best interest. It would be only fair that you would do the same. Don’t you think?
This business is a people business and many different personalities are involved. It is understandable that, at one point, a buyer may not feel comfortable with his or her agent or vice versa. However, this usually can be identified at the beginning of the relationship. Openly communicating with each other will help clear up any misconceptions or misunderstandings. Ask questions. Express your fears and concerns. I am sure your agent would be happy to dialogue with you about them. If after communicating, the relationship is still not where you want it to be, please don’t wait too long to tell your agent. Remember to treat others as you would like to be treated…after all, real estate agents are human too.
Have a successful house-hunting journey!