How to find an honest real estate agent. Ask about the agent’s real estate commission. Ilyce Glink explains more on agent commissions in Today’s Real Estate Minutes.
Can you trust your real estate agent? A better question might be: Do you know how your agent is being paid?
By law there is no standard real estate commission, but the general range is five to seven percent. The seller broker splits the commission in half with the buyer’s agent.
In a buyer’s market, the seller might offer more than the typical commission to entice brokers to bring in prospective buyers. This is important for you to know because some agents might bring you to see a property that they normally wouldn’t because of an extra-high commission attached.
You don’t want an agent like that. Agents and brokers are the most vital and trusted member of a home-buying team, so make sure yours is honest, and trustworthy, open and up front about the commission.
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