Home Selling Advice - Realtor Commissions
When is the Realtors commission paid.
The job of a listing agent is to provide a buyer for your home. If that buyer produces an offer which is accepted by the seller then the Realtor is deemed to have earned their commission. When the home sale completes and has closed then the real estate broker gets paid who in turn pays the Realtor. If the home does not sell then the Realtor does not get paid.
One thing to note is that if a buyer is produced that meets the criteria specified by the listing contract and the seller decides not to sell then the Realtor (both the buyers and sellers) is deemed to have done their job and may still want paying. This was backed up by a recent court case where a buyer was produced who offered full price for the home, the seller then had a change of heart and decided to take the home off the market. The buyers Realtor took the seller to court and was awarded their commission.Return to Home Selling Advice