Who pays commission?

Discussion in 'The Buying & Selling Process' started by Starbright, 16th Oct, 2017.

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  1. Starbright

    Starbright Well-Known Member

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    Who pays commission if an agent approaches you to buy a house which is wanted for development by a developer?

    As the seller never listed or marketed the place, does the seller pay, or does the buyer pay the agent for obtaining the sale? Is there a common practice for this? Thanks
     
    Starbright, 16th Oct, 2017
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    That is up to you and the agent to decide.

    Generally agents will want a full commission for introducing you to a seller.
     
    Terry_w, 16th Oct, 2017
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  3. Starbright

    Starbright Well-Known Member

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    Starbright, 16th Oct, 2017
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  4. D.T.

    D.T. Specialist Property Manager Business Member

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    Which party is the agent working for? There's your answer.
     
    D.T., 17th Oct, 2017
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  5. Scott No Mates

    Scott No Mates Well-Known Member

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    An per @D.T. - if the agent is working for a developer, let them come to the table with the offer for your solicitor/accountant to review.
     
    Scott No Mates, 17th Oct, 2017
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  6. hobartchic

    hobartchic Well-Known Member

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    A guaranteed sale with no marketing costs, and at a good price? Expect the seller (who benefits when it sells) to pay the agent an agreed fee. I would expect to pay full standard fee for this. Easy way to sell a house assuming you are happy with the amount the developer pays.
     
    hobartchic, 17th Oct, 2017
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