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If you've bought and sold homes in the past you may already understand how buyers agents get paid but I thought I would go ahead and explain. I always hate wondering about things like this so I thought it would be helpful.
-The seller has a listing contract with a real estate brokerage company to pay a fee for selling the house. It's negotiable but typically 5-6% in the Triangle.
-The Multiple Listing Service was invented for brokers to share their home listings with other brokers in the network and guarantee the agents from different companies would get paid for selling the home.
-The MLS is a promise (contract) by the listing real estate company to pay the selling company(who brings the buyer) a specified fee. In the Triangle this is typically 2.4%-3%. The listing company keeps the rest.
-My commission is already included in the price of the home so you don't save money if you are not represented by a buyers agent.
-Builders will also pay my fee if you let them know you are represented and include me in the first or early visit.