Buyer Misconceptions
A frequent misunderstanding I see all the time, even from people who have bought homes in the past and were simply in an information overload coma of sorts, simply don’t recall when they go to buy a house from an agent with a West Virginia real estate license 10 years later, or possibly never really understood the process is “Who is paying for this real estate agent?”… The answer is very likely, NOT you. When dealing with an agent with a West Virginia real estate license the buyer is really getting great services for free.
Question: I want to buy a house. How do I get a good rate when finding an agent with a real estate license?
Answer: If you are the buyer you don’t deal with paying for any of it!!! So fret not, your ride is most likely free.
The Buyer Doesn’t Pay
The buyer doesn’t pay ANY commission to an agent with a West Virginia real estate license. The SELLER pays for this service. Read more about this highly overlooked fact:
Overlooked facts when a buyer deals with an agent with a real estate license:
There’s a LOT of confusion on who is paying for what when dealing with a real estate agent. Let’s start by simply saying
the SELLER almost always is paying for the services of a real estate brokerage NOT THE BUYER Click to Tweet
How can this be? Why is this, you might ask? Well, stripped to the bare basics, the seller is using the real estate brokerage and their network of the agents with a real estate license as advertising for their property. Advertising costs money. Good advertising gets your home sold. So the SELLER pays a commission to the varying real estate brokerages for advertising their home and getting it sold. The buyer has nothing to do with this advertising cost. The buyer is just looking for a home and has enough coming out of their pocket, right? They’re shelling out the cash for a house! So let’s just let the seller deal with the bill for the licensed real estate agent, since the seller is the one actually getting a service. That’s hopefully VERY GOOD ADVERTISING through a network of agents and brokerage companies introducing the sellers property to thousands of potential buyers. Kind of beats a “for sale by owner” sign in the yard and yes, it’s costly to the SELLER for that fact. Go ahead and price good advertising some time and you will see it isn’t cheap. Also realize that a buyer wouldn’t need advertising. A buyer is simply looking for a property. So when they find one why would they pay for “the sellers advertising” . The obvious answer is they wouldn’t. You don’t pay NBC when you buy a pair of Nike shoes. You pay Nike for your shoes and Nike pays NBC for their glamorous ads. Start to make sense? BUYERS DON’T PAY A REAL ESTATE AGENT’S COMMISSION. BUYERS BUY A HOME 🙂 So if you’re looking for a home, don’t get all weirded out thinking you are going to have to pay some huge commission for finding a home with an agent holding a real estate license. Go on out there and look at some homes and don’t worry about your buyer agent’s commission. Chances are you’re not paying a single cent for it. The seller is most always paying the commissions and for good reason!