“Who Pays the Real Estate Agent?”

– Real estate agents in Rhode Island, Massachusetts, and Florida typically earn about 6% of the purchase price of a home, but the specific amount is determined by the listing contract.
– Sellers usually pay the agents on both sides of the transaction, but they may build the payment of fees into the asking price of the home, effectively making the buyer responsible for the payment.
– The fees cover the cost of the agent’s business activities, such as taking pictures, listing the property, and printing materials like flyers and signs. – In a seller’s market, the cost of agent fees typically falls on the buyer, who may offer to pay the fees outright as a way to sweeten the deal for the seller.
– In a buyer’s market, the cost of agent fees comes out of what the seller might otherwise have earned from the property, as they may need to accept less for the home than they had initially asked.
– Topouzis & Associates, P.C. is an experienced closing firm that performs thorough title searches on properties and provides title insurance policies for properties in various locations.

Paying the Real Estate Agent—Whose Responsibility is It?