One of the most common questions that I hear when I am working with a first-home buyers is, “How do you get paid as a Realtor?”. According to the National Association of Realtors, 88% of home buyers used a real estate agent when buying a home and approximately 91% of homeowners used a Realtor to sell their house in 2013. Based on these numbers, it’s obvious that there are many people working with Realtors every day. There are also predicting that the “Gen Y” homebuyers will be entering the real estate market with a bang during the next few years. This means that an influx of home buyers will be entering the market for the first time. Many of these first time home buyers have no idea what a Realtor actually does, or how they get paid.
I recently met a nice couple looking for a new home in the Wingfield Springs area in Sparks. They had never bought a house and had many questions when I met them. They had been looking at homes online for a couple of months, but they were finally ready to get serious about home ownership. One of the first questions that they asked me was “How much do we have to pay you to help us find a home?”. This is a common question for first time homebuyers. When I told them the answer, they were relieved... Here’s why:
In Nevada (and most of the U.S), the Seller typically pays ALL of the Realtor fees in a real estate transaction.
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