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Updated 9 months ago,
Navigate Buyer Commission
Hey y'all, given the recent NAR settlement i was wondering how this will play out as a first time home buyer? My understanding is: most sellers will pay their commission, but what if they don't or they only pay a portion of it? What is common practice as far as the contractual agreement between the agent and the buyer in the event the seller does not pay or only pays a portion of the agreement (i.e if the seller only pays 1-1.5%)? Would greatly appreciate the feedback. For instance, is it common to state to pay a flat fee of only up to $x amount in the event the seller does not cover the cost? If so, what is a flat fee amount?