K.M. Minemier & Associates is a certified Woman Owned Small Business (WOSB) engaged in full service real estate asset management and marketing.

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If I have an Agent, how do they get paid?

September 23, 2019

In the real estate arena today, it is advisable to have a Realtor who represents your best interests when purchasing a home.  There are multiple ways that your agent can be financially rewarded for their work in regards to representing you in a transaction when buying a home.  Often times, the seller has negotiated a fee that the listing agent shares with a "cooperating broker" (Your agent if you are the buyer).  There are buyer agreements in many states that are a contractual agreement between you as the buyer and the agent (Realtor) that you wish to represent you in a real estate transaction.  Sometimes, your agent can be compensated by a combination of the two above.  Realtors are independent contractors and while some states allow them to be on "payroll", more often than not, they are independent contractors and work on a commission basis only.  That is why you see either a "flat fee" or a percentage of the sales price as the compensation amount for your Realtor.


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