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-> Household Management
-> Finances
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amother
OP
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 Tue, Oct 27 2020, 10:41 pm
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I am iyh buying a house for 330k how much will my RE agent get? Ty
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amother
Blush
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Tue, Oct 27 2020, 10:53 pm
It's different depending on location. I work at a NY based real estate firm where we mostly deal with properties in the boroughs and commission is approx 3-4%.
Based on the price you're quoting it looks like you're located in a more affordable area. Commission in that case may be a bit higher 4-5% but I'm only guessing here
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yiddishmom
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Tue, Oct 27 2020, 10:58 pm
Out of curiosity, why do you want to know?
The Seller pays commission. Not the Buyer.
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amother
OP
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Tue, Oct 27 2020, 10:59 pm
| yiddishmom wrote: | Out of curiosity, why do you want to know?
The Seller pays commission. Not the Buyer. |
Yes I know
I’m the buyer and I was just curious!
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amother
Blush
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Tue, Oct 27 2020, 11:01 pm
| yiddishmom wrote: | Out of curiosity, why do you want to know?
The Seller pays commission. Not the Buyer. |
Of course the buyer pays the commission! The price of commission is directly factored into the asking price
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yiddishmom
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Tue, Oct 27 2020, 11:07 pm
| amother [ OP ] wrote: | Yes I know
I’m the buyer and I was just curious! |
Where are you buying? Depends on location.
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yiddishmom
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Tue, Oct 27 2020, 11:07 pm
| amother [ Blush ] wrote: | | Of course the buyer pays the commission! The price of commission is directly factored into the asking price |
Some truth to that.
Last edited by yiddishmom on Tue, Oct 27 2020, 11:08 pm; edited 1 time in total
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yiddishmom
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Tue, Oct 27 2020, 11:08 pm
You'll be able to see the exact amount on your closing statement.
Is there a buyer's and Seller's agent or just one agent?
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amother
Pink
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Tue, Oct 27 2020, 11:09 pm
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I’m a real estate broker in Monsey. Average commission is 4-6% and is split between the buyers and sellers agent
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yiddishmom
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Tue, Oct 27 2020, 11:15 pm
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I forgot, in NJ (and I believe NY too) the commission is usually written in the Contract.
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