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busymonkee · Joined: 14 Apr 2005 Posts: 5

We are thinking of buying our first home in the next year, and I am curious what the average cost of realtor fees are for the buyer in the Midwest US? Thanks!

matthweldon · Joined: 05 Apr 2005 Posts: 4

Because the market is in such a depressed state right now, many Realtors will negotiate their fees. I am from the west coast, so I am not sure what the usual fee is where you live. Here in California it is right around 7.50 percent.

AbdZ · Joined: 05 May 2007 Posts: 4

I don't know about the midwest, but in the northeast it is between 3-5%. But, if you are looking for "your dream home", then you may be paying a little extra and you can ask the seller to pay all of the fees on their own, rather than splitting them.Also, if you azre not using a realtor, then you should be able to negotiate smaller fees.... just a few tips.Good luck.

pookiepoo · Joined: 29 Dec 2004 Posts: 3

Don't be afraid to give your local real estate office a call and ask them. Commissions for Realtors really vary especially in this type of market. A few years ago a lot of Realtors were splitting a 4/5% commission. Now it can be up to 7%! Just call and ask!

DaveakaSpiderMonkey · Joined: 19 Mar 2004 Posts: 5

The seller pays a commission...usually between 3-5%This would be split between your broker and the listing broker. I think you would just have to pay for the home inspection and maybe the closing attorney...thats it.

nigyar_985780 · Joined: 28 Dec 2003 Posts: 4

Realtor fees are almost exclusively paid by the seller of the property, not by the buyer involved. You should engage the services of a qualified buyer representative agent, and negotiate the fees involved to be paid by the listing agent/seller of the property.

DemonSlayer06 · Joined: 05 Feb 2007 Posts: 5

It would be most unusual for a buyer to pay a fee to a realtor to buy a home. IN most cases, the seller pays ALL of the agents fees.

GregoryB · Joined: 22 Jan 2006 Posts: 5

realtors are p;aid by the seller so iy costs you nothing to use them

SpellCheck · Joined: 06 Jan 2004 Posts: 2

There are no costs for buyer's since the seller builds the commission into the asking price.Typically the buyer's agent and the selling (listing) agent will split the 6% commission 3% each.Hope this helpsTerry S.http://www.Welcome2Arizona.com

jackie · Joined: 10 Mar 2005 Posts: 5

Generally most the fees do come from the seller's side, one of the many instances where it doesn't is if you end up signing a Buyer Broker agreement and in the agreement states that you have to pay your agent 3% commission, and the house you end up buying, the listing agent only offers 2% to the buying agent, then the other 1% would have to come out of your own pocket. Make sure if you sign a buyer broker agreement contract that you are fully aware of the of the commission structure.