Commission - Who Pays It?

 FOR BUYERS
If you are interested in buying a home, I have fantastic news! Commission is traditionally paid by the sellers to the agent(s) involved in procuring a buyer who is ready, willing, and able to complete the purchase.

FOR SELLERS
Some sellers will start with the FSBO (for sale by owner) approach and achieve their desired outcome. The majority of FSBO listings are eventually listed with a professional full-time agent. Regardless of the method you choose, it is important for sellers to consider commission.

Commission, if applicable, is traditionally paid by the sellers to the agent(s) who helped procure the sale of their property. If you sell your property as a FSBO to an individual without a buyers agent, commission is a non-issue.

The majority of buyers will use the services of a real estate agent to assist them in their home search. Potential buyers will be working with an agent before they even know your property is available. Buyers understand that agents are traditionally paid a commission by the sellers, based on the final agreed upon gross sale price. Sellers should consider using every means available to sell their property. This includes professional agents, representing buyers, who will promote and possibly sell their property.

WHAT IS THE COMMISSION PERCENTAGE RATE?
In North Carolina there is NO "set percentage rate" for commission. Commission percentages are not included in property advertisements and are not made available to buyers and/or members of the general public. Commission percentages are negotiated according to the type of property being sold and the level of services being provided by the listing agent. Sellers negotiate the amount of commission to be paid with their listing agent. Sellers of FSBO properties who decide to offer commission to buyers' agents may either negotiate or set the percentage of commission.