Buying a home can be a complex and confusing transaction so it’s smart to hire a professional REALTOR® to help you navigate the home buying process. But who pays the REALTOR’s commission? It’s one of the most common questions I’ve heard in my 11 years of selling homes.
According to the National Association of REALTORS, 88% of home buyers used a real estate agent when buying a home and more than 90% of homeowners used a REALTOR to sell their house in 2013 (See stats). It’s projected that Millennial’s will, for the first time, buy more homes this year then those members of the baby boom generation. That’s a lot of people looking for expertise from a professional. Many of these first time home buyers have no idea how a REALTOR gets paid.
I have good news for home buyers.
In Maryland, Virginia, and Washington DC, it’s typical for the seller to pay all the real estate commission fees associated with the home sale. That means you’ll have more money for your down payment!
When you’re ready to move from searching the Internet for homes and exploring your social networks for home buying information, please give me a call. I can help you interpret the timelines, checklists, and charts to see how it fits your specific situation and get you the keys to the perfect home!