How do real estate agents get paid? What is the offered rebate based on?
• Buying agents are typically paid 50% of the commission that the seller is paying. For example, if a home is being sold for $200,000 and the seller agrees to pay 6% in agent commissions, 3% of that would go to the “selling” agent, and 3% to the “buying” agent (your agent). This means each agent stands to get $6,000 in commissions on the deal. If you get a realtor from DoorFly, they will typically rebate some of their commission back to you, the home buyer. They can do this because: » Agents want to win your business! DoorFly is much cheaper than all other means of advertising for these agents. » You, as the buyer of the property, do not determine the percentages of the commission — the seller does this. Therefore you have no other means of lowering your costs with your buying agent. Rebating is the best way to do this.
