Buyer agent commission

[Account Closed]

The buyers agent gets 3% commission. How is this generally split between the broker, the agent and whatever else there is?

Is it the same for the seller's agent?

How does it go for dual agency?
Thanks,
Ofgift

[Joshua Dorkin]

The split between the agent (buyer or seller) is contingent upon what is agreed upon by the brokerage and the agent. This is typically negotiated upfront when the agent starts working under the broker. I've seen new agents get as little as a 50% split, and know that there are many companies that offer experienced agents who don't work out of the office 90%+ of a deal. It just depends on how good a deal you can negotiate.

That's why agents should get out and interview everyone in town before picking a brokerage to work with. Not only can you get better terms, but it gives you the chance to see how the various companies operate.

Hope that helps.