Can the buyer pay for part of Realtor commission?

[virgo12083]

I am currently trying to buy a house through short sale, and the bank specifies that they will pay no more that 6% closing costs, further breaking it down as 4% commission and 2% actual closing costs. My realtor has agreed to drop her commission to the 4%, but she is so great and is doing so much work for me that if I have the money at closing, which at this point I don't know if I will, can I pay the missing 3% that she would normally get?

[BarryC]

I'm not sure where you are, but the standard (and I use that loosely) comission in the US is 3% per agent. I'm happy to hear that your agent is doing a great job for you. If he / she is getting 4% she will probably be happy, and probably deserves it.

Good luck on the purchase!

[satxproperty]

Strange that they are counting real estate commissions as part of the closing costs?

[sapanbehar]

I'm not sure where you are, but the standard (and I use that loosely) comission in the US is 3% per agent. I'm happy to hear that your agent is doing a great job for you. If he / she is getting 4% she will probably be happy, and probably deserves it.

Good luck on the purchase!

You use that phrase "standard commission" up here and you can be sure to get a phone call from the Competition Bureau.

[BarryC]

That's why I said loosely. All comissions are negotiated, and there are no set comissions.

[jessiesc]

To actually answer the question:

Yes you can pay your agent an additional buyer representation fee (in most states, check with your agent).

Commissions in short sales are always considered as part of the cost in our area as well.

The agent would not be receiving the full 4% unless they have both sides of the sale! And don't forget about the broker split, so your agent is actually receiving allot less then you think.

Best of luck in your purchase.

[sapanbehar]

That's why I said loosely. All comissions are negotiated, and there are no set comissions.

Nicely said!

[virgo12083]

I know that she usually gets 7%, and yes, she is dual agent for this, so she is getting it all.....as for her broker fee....they are getting 7% of the normal 7% that she would usually get, even though she agreed to take only 4%. Does that make sense? I'm in Upstate NY by the way.

Thanks for all of your answers....I asked her and she said she wouldn't take it cause this is all she agreed to. So maybe I'll give her a really nice birthday present this year.

[RyanRE]

So maybe I'll give her a really nice birthday present this year.

There you go. That would be a much better approach.

[rmasse10]

I think it was answered above and not sure if this is a location thing but here in florida, yes, the buyer can pay the commission