Quote:
Originally Posted by retiredguy123
Can anyone state that they actually paid an agent to represent them as a buyer of a house, and paid the agent a commission over and above the 5 or 6 percent broker's commission stated in the listing agreement at the closing? How much commission did you pay? In my experience, the broker commission is listed on the seller's side of the settlement statement and is paid by the seller. Is there any real estate company who offers to represent the buyer and agrees to collect no money from the listing broker commission at closing? As I understand Florida law, a licensed agent cannot represent both the buyer and the seller during the selling phase, but they can serve as a "transaction" agent during the closing phase.
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I have used a buyer's agent a few times. We both signed a contract stating he/she was my buyer's agent. Their commissions were paid out of the proceeds of the sale. A couple of times I have told a commercial real estate broker I would pay him a finders fee or commission if he found a property I ended up buying but nothing ever came of it.
I held a New Mexico Real Estate broker license from 1976 until 2020 and used it only a few times, mostly on my own deals. In the last two years I sold commercial properties in Maryland and New Mexico but did not ask for nor receive a commission as I was no longer licensed. I negotiated what I thought were reasonable commissions in the listing contracts.