How do I pay an agent when buying or selling a home?

How do I pay an agent when buying or selling a home? findwell agent, Lauren GeRoy, answers in this installment of Ask an Agent.

Q: How do I pay my agent when buying or selling a home?

When you are purchasing a home your real estate agent’s commission is paid by the seller and it is part of the seller’s closing costs for the property. So you do not need to pay your agent as the buyer. When you are selling your home however, you will be paying a commission to both the buying agent and your listing agent which is part of your closing costs.

Q: Am I able to negotiate commission that I have to pay to a real estate agent?

Commissions are definitely not fixed. While there is a fee that is typically charged for selling your property commissions are always negotiable and not fixed or set in stone.