Quote:
Originally Posted by frayedends
Are you talking about 1 agent serving both buyer and seller. Then you are correct. But there are buyer's agency in Florida. It seems from what I'm finding they are paid the same way as in Massachusetts...
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The Selling Broker - Listing Broker relationship is exactly the same in Florida, as it is in Massachusetts. The only difference, is "dual agency" is not allowed in Florida.
The Seller's Broker sets the Commission Rate and sets the "cooperating broker's" (Buyer's Broker) fee. It doesn't have to be split 50/50. The typical Selling Commission in Florida (as in MA) is 5%. It's very unusual for anyone to pay 6% or 4%, but it happens. It happened in my case (actually, 3%).
The Commission on the resale I bought in The Villages 2 years ago, was a total of 3%. 1.5% to the Listing Broker, 1.5% to the Selling Broker (my Buyer's Broker).
The Brokers involved, were Re/MAX Premier Realty and NextHome Sally Love Realty.
... & before all the crazies jump in and claim that's nonsense, here's a Screen Shot of the actual HUD Settlement Statement.