Who pays for a buyer’s agent?
o The seller of the property pays the buyer’s agent commission. The buyer does not pay the agent representing them unless the buyer has entered into an agreement with the agent regarding compensation. For example, if the buyer agency paperwork states that the buyer’s agent must receive at least 2.5% commission, then the buyer would be responsible if the buyer’s agent only received 2.0% on the property the buyer chose. Many agents include this kind of “gap coverage” in their buyer agency paperwork and never pursue the buyer for the difference. Review the compensation portion of the buyer’s agency paperwork carefully and discuss any questions you have with your potential agent.
