Does each party to a real estate transaction pay their own Realtor?
Usually not. Typically, it is the Seller’s responsibility to pay both the listing agent as well as the selling agent, who may be the same party. Accordingly, pursuant to common agency law, both of these agents work for the Seller. There are occasions, however, in which a party will hire and pay for the services of a Realtor working exclusively for that party. Realtor commissions are usually 6% of the sales price, but may be negotiable. Also, Buyers and Sellers must review the contract carefully to determine whether the Realtor is charging either party an additional administrative or processing fee (which generally ranges between $150.00 to $400.00).
