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How Does A Realtor / Real Estate Agent or Broker Get Paid?: LA, Orange County, Fullerton Rob Castro

hey everybody Rob Castro coming to you

here from Southern California la Orange

County area and doing a video today on

how does a real estate agent or real

estate broker get paid so a good friend

of mine recently was asking me he's

about to become a first-time home buyer

and he was asking me hey Rob I want you

to show me some homes I want you to

represent me help me find something for

me and my wife and how does it work how

do I pay you do I pay you like every

time we go out and look at houses or or

how does that work I've never done this

before so it kind of dawned on me Wow

some people actually really don't you

know they've never done it before so

they don't know how it works so I

thought I'd do a video on it so who pays

the agents does does each you know

there's usually typically in a

transaction there's a buyer's agent and

a listing agent so the listing agent

represents the seller the buyer's agent

represents the buyer does the buyer pay

his agent and the seller pays his agent

no that's actually not how it typically

works so usually how it works is the

listing agent who works for the seller

lists the property the seller agrees to

pay X amount and commission the standard

normal Commission is 6% and you know it

varies it's negotiable it's not a set

rate it could be 7% it could be 5% it

just depends it's all over the place and

it's whatever's you know worked out

between the buyer or I mean between the

seller and his agent but the seller

agrees to X amount and usually the

listing agent puts the property for sale

in the MLS and exposes it to buyers

agents that are working with buyers and

he splits that total Commission that he

worked out with the seller in half so in

this situation if it's a 6% Commission

the sellers agreeing to pay usually the

listing agent offers out

the buyer's agent 3% of that six to

entice the buyer's agent to bring their

good quality buyers to the house you

know to ultimately sell it so what does

that mean for buyers like my friend that

was asking me about this you know it

means that it's totally free as a buyer

to work with an agent hello awesome

great news I mean you can work with a

professional agent that has access to

the MLS has access to all the new

listings will take you around most of

the time Drive you around in their car

show you properties all of that stuff

100% for free because he's motivated

he's getting paid by the seller so if

you're looking to start you know buying

looking for properties to buy a property

go out there get pre-qualified with the

lender find a good buyer's agent that

you know will work with you and it can

negotiate with you can write offers up

for you that will benefit you and

protect you and go out there and find an

awesome house so that's how real estate

agents get paid I'm Rob Castro if you

agree disagree like what I say don't

like what I say go ahead and comment if

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Castro broker calm and as always have a

great day