Posted by
Sakib Sobhan

Do a buyer have to pay for realtor commission?

I made an offer to a property and the agent replied they will not lower the price and also no finish allowances. The seller will only pay title policy???? is this normal in TX real estate market? I am a first time home buyer and lots of things are really new to me.

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Do a buyer have to pay for realtor commission?

By Sakib Sobhan   
Posted on Apr 16, 2019 in Topic: Home Buying
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I made an offer to a property and the agent replied they will not lower the price and also no finish allowances. The seller will only pay title policy???? is this normal in TX real estate market? I am a first time home buyer and lots of things are really new to me.
Status: Open
Viewed: 2654
Asked by: Consumer
Posted: 1 month ago
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Bronze
Jessica Malone
about 1 month ago
Hello!

There are so many things that can happen when it comes to real estate transactions. I will say that it sellers covering the title policy is common to many of the transaction I have seen. Navigating the home buying process can be a bit overwhelming especially for first time homebuyers. Hopefully, you're working with an agent who will protect you and your interests. If you are not currently working with an agent, give me a call. I hope this helps.


about 1 month ago
Platinum
Karen Sherrill
about 1 month ago
I would say that "typically" the seller is the one who pays commissions and title policy. Of course there can be exceptions to this depending on the property and seller's situation. As a first-time buyer having a Realtor assist you as you navigate the process is an invaluable resource. Each listing has its own particular nuances specific to the seller and property. If you represented yourself, the listing agent has a fiduciary duty to their client (the seller) and not to you which limits the information they can share with you. If you enter into a relationship with a Realtor to assist you in buying a home, they would have a fiduciary duty to you and your interests and can provide detailed information on any home and would be able to advise you. I would recommend searching "find a pro" on HAR.com to locate a realtor who has experience in the neighborhoods you are searching. Feel free to interview a few, so you find someone who is a good fit. Here is a link to assist you if you have that need https://www.har.com/realestatepro If you already have a Realtor, I'm sure they would be more than happy to answer any of your questions


about 1 month ago
Gold
Matthew Wigtil
about 1 month ago
There are no "standards" as to who pays real estate commissions or title policies in the state of Texas. It is primarily based on two things:

1. The listing agreement between the seller and listing agent
2. The buyer's representation agreement between the buyer and the agent that represents them

In regard to the title insurance, that is negotiated along with the purchase price and other terms. It can be paid for by either party (buyer or seller).

For the question about who pays commission, if the seller is not offering to pay a buyer's agent commission, then it would be determined by the agreement you have with your buyer's agent. Most buyer representation agreements have a provision that says if the seller will not pay commission, that the buyer would be responsible. That is why it is very important to have a discussion with your agent as well as carefully reading all documents before signing.

Essentially, it's extremely important to have an agent to represent you and have your best interests in mind. Your Realtor should be able to competently explain all forms and documents, and answer any and all questions you may have! If there is anything I can do to help explain further please let me know!


about 1 month ago
Gold
Yvonne Chauvin
about 1 month ago
Good Afternoon Sakib,

Just about every item in the 1-4 Real Estate Single Family contract is negotiable, including the asking price. Depending on price point- sellers may not want to provide finish allowances or do repairs (especially in the 150s price ranges).
However, your Realtor should be able to help you maneuver through the different aspects of real estate transaction and negotiate on your behalf- not only asking price, but home repairs.
I do hope you are using a Realtor. It's a free service to Buyers, there is no reason to go into it alone, without the help of a professional, who does it for living, full time.
Thank you,

Yvonne Chauvin- REALTOR®
MCNE, CNE
Better Homes & Gardens Real Estate Gary Greene
YvonneChauvin@yvonnechauvin.com
Cell: 281-686-0143


about 1 month ago
Platinum
Mark McNitt
about 3 weeks ago
Hello Sakib,

Make sure you have a Realtor representing you as a "Buyers Agent". To have this in writing, they will present you a Buyers Representation Agreement to review. Part of this explains WHO pays your Realtor? In the Houston area, most listing agents and builders will pay your Buyer's agent their commission. The agreement explains what happens, on a rare occasion, that they don't pay your agent. Also what happens if you were interested in an FSBO? Who pays the Realtor fees?

Your agent should explain all fees involved. Who pays what? How much money you will need at closing, how the other parties are involved and their fees, etc. If you are not feeling comfortable with their style of communication and their ability to teach you as a 1st-time Buyer, find another experienced Realtor. Call us if we can help. Good luck!

Mark McNitt
MarkKnowsHouston.com
832-567-4357
Bernstein Realty


about 3 weeks ago
Bronze
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about 3 weeks ago
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about 3 weeks ago
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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