How does an agent representing a buyer get paid?
When a seller lists a property for sale with a real estate brokerage, they agree to a specific commission percentage to be paid upon a successful sale of the property. In turn, the listing brokerage markets the property on the multiple listing service, making it available for any member agents to access the property, and show it to buyer clients of theirs. The listing brokerage offers any cooperating member brokerage representing a buyer a percentage, usually 50%, of the total commission rate being paid by the seller for representing the buyer through the transaction to a successful closing. The fees are paid directly to the brokerage firms, and not to the individual agents. The brokerage firm then pays the agent a portion of the commission earned.
*Sadly, we had to bring back ads too. Hopefully more targeted.