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Updated about 9 years ago,
Oh My, is this really how the RE market works in St Louis?
Wife and I will be in St Charles next week for a wedding reception and at the same time want to look at a few properties in old St Charles. We're looking for a possible 2nd home that also has potential as a VRBO and old St Charles is our current area of interest.
An agent we've closed several deals with here in Dallas referred us to an agent in St Louis.
The agent in St Louis insists we must sign a Buyers Agreement which has these two points in particular which we've never had to deal with here.
1) For MLS properties, there is a $295 commission that is to be paid to broker by buyer upon closing.
2) For non-MLS properties, buyer is to pay $295 commission to broker AND even with no agent involvement, seller must agree to pay 7% commission, if seller does not agree to pay the commission, buyer must pay it.
Is this really the norm in the St Louis area?