How Does StartingPoint Realty Get Paid?
Sure it’d be nice to have a professional help and assist you with your every move throughout this process. But you’re a first time home buyer, money’s tight – how can you afford a buyer’s real estate agent?
This is an excellent question. For several years leading up to 2023, the seller’s real estate broker would pay the buyer’s real estate brokerage out of their total commission. Thus, a first time buyer would not be writing a check at closing for their broker’s services, however they would be paying their broker through the purchase because they are the ones bringing the money to the closing table. Let’s just say there are powerful entities looking to eliminate the payment of the buyer’s broker commission through the seller’s broker. We can write several pages explaining what is going on but for the first time buyer, you could be in a position where if you choose to work with a real estate broker and you sign an agreement with them stating their commission terms, you might have to pay your broker directly. Can you ask the seller to pay your broker’s fees? Absolutely. Are there several properties where the seller’s broker is still paying your broker’s commission? Yes. However, things are changing quickly and we promise to keep you up to date. These changes are going to affect first time buyers the most, and we’re frustrated that no one wants to talk about that. First time home buyers are the most neglected segment of the real estate market. We believe these changes will leave several buyers without representation or worse, represented by the seller’s agent. Trust us, we’re doing what we can to find you better answers.