Who pays commission to the realtor when selling an apartment
The realtor helps the owner to sell, and the buyer - to find the property. Who needs an agent more, how to understand who should pay for his services? We deal with JCat. Real Estate.
It would seem that the answer to this question is obvious: whoever contacts the agency and orders the services of a realtor must pay the specialist his commission. But in practice, this is not always so obvious, and at the time of payment, each of the parties to the transaction believes that he should not pay.
This situation can initially be prevented with the help of a contract - a document in which all the features and terms of payment are indicated. Such an agreement guarantees the realtor the required remuneration for his work and prevents disputes between the parties.
Sometimes, at the time of signing the purchase and sale agreement, it turns out that the participants in the transaction did not initially expect additional costs, therefore they do not intend to pay 2-6% of the real estate amount.
Options for cooperation with a realtor To begin with, let's analyze what options for a realtor's work for clients, in principle, can be:
One realtor on both sides. The specialist receives double remuneration fairly - his work in this case is very difficult. Both sides have different agents. Each party pays its own realtor. Only one side has an agent. It is in this situation that the question most often arises as to who pays the realtor - the seller or the buyer. In fact, the services of an agent are equally needed by each of the parties: the seller and the buyer have different goals, but both parties want to conclude a sale and purchase agreement on favorable terms .
Why does a buyer need a realtor? Despite the widespread belief that the realtor is mainly needed by the seller, the buyer of the real estate often acts as the customer of the agent's services.
The realtor helps the buyer:
do not waste time on a long selection of real estate; take into account all the nuances when choosing an apartment or house; do not fall for the tricks of scammers; do not get a number of problems when buying real estate. Who pays the realtor when selling an apartment? The logical answer is the buyer, but only if he personally contacted the agent and they entered into an agreement.
Recently, there is a tendency for buyers to refuse from real estate services. There are two reasons for this:
the widespread opinion that the agency's specialists check real estate, so you can simply apply for ads; the purchase of an apartment for credit means that the bank's employees check the property for legal purity. To contact a realtor or not is a personal choice of each person. But if a decision is made to trust a specialist, it is important not to forget to draw up a contract. He will be a guarantee of the quality of the agent's services and will help insure himself in case of a deal breakdown.
Why does a seller need a realtor? The owners of apartments and houses are more likely to ask for help when selling: this is due to the large supply on the market. So that the seller's ad does not get lost among similar options, it must be correctly submitted - this is what realtors do.
Agents provide :
filming of the object of sale; drafting and posting ads; checking the "legal purity" of real estate; consultations on all emerging issues; preparation of a purchase and sale agreement; optimal settlement conditions between the parties to the transaction. The agent also contributes to the signing of the contract and submits it for state registration.
Who pays the realtor when selling an apartment? If the seller contacts a specialist, the customer pays for the service. The agent and the seller agree on the remuneration in advance: details of the rate, fixed payment or commission percentage and terms must be specified in the contract.
What is the responsibility of a realtor? All obligations of a real estate agent must be spelled out in the contract, otherwise the customer will not be able to demand their fulfillment.
The realtor's competence includes:
selection of suitable options for those who want to buy real estate and search for buyers for the seller; providing information about the property; legal due diligence of the object; consulting services; execution of a purchase and sale agreement; assistance in organizing payment for the transaction. The realtor is responsible only for his own part of the work, and is not responsible for the failure of the transaction through the fault of the buyer or seller.
When should you pay a realtor? All details of payment for the services of a real estate agent must be specified in the contract.
There are several options for the time of payment for the services of a realtor:
in parts at each of the stages - this option is the most successful if the customer wants to terminate the contract early; after signing the contract; after the completion of all stages of the transaction - the transfer of ownership. The safest thing is to agree in advance on payment at the time of the complete completion of the case. If the realtor works from the side of the seller, it is better that he receives a reward after the buyer has settled. If the agent represents the interests of the buyer, the transaction is considered completed after the official transfer of ownership - receipt of documents from Rosreestr.
When do disagreements arise about the payment for the services of a realtor? If both parties approached the matter competently, there should be no disputes over payment for real estate work. But experts say that conflicts often arise in such situations:
Neither party actually ordered the service. Realtors often call the numbers in ads and offer their help. Many people mistakenly believe that such services are provided free of charge. Only one side has a realtor. In such a situation, the seller believes that he should share the cost of the agent's services with the buyer and vice versa. The realtor works simultaneously with two parties to the transaction. In this case, both the seller and the buyer want him not to pay for the work. Hidden payment Sometimes realtors contact a seller or a buyer and offer free assistance in closing a deal. But, as you know, no one will work for free: the agents just have several life hacks, in which they still get their percentage.
Let's say a specialist has found the ideal apartment for a buyer who agrees to the seller's price. But at the decisive moment, the realtor says that his services cost a Real Estate Agent in Minto certain amount. It is difficult for a buyer and a seller who are already determined to conclude a lucrative contract, it is difficult to refuse a suitable option. Therefore, the parties together begin to think over how to get out of the situation.
The following scenarios are possible:
the buyer is so interested in the property that he agrees to pay more; the seller does not want to lose the buyer, therefore he concedes to him - while he may consider that it was a simple bargaining, but in fact there was a payment for the services of a realtor; the deal breaks down because the parties cannot agree among themselves. Onshore Agreement To avoid any conflicts and misunderstandings, it is important to draw up a contract with an agent in as much detail as possible. In the paragraph on payment for services, it is important to indicate the cost of work, the moment of calculation, as well as all the conditions for paying the deposit or advance payment and its "fate" in the event of an early termination of the contract or the breakdown of the transaction.
The realtor, for his part, must accompany the client at all stages of the conclusion of the purchase and sale agreement and control the transfer of ownership of the property. With the correct organization of cooperation with the agent, the specialist does his job well, and the customer does not mind parting with the money to pay for his services.