Technically, the commission is agreed upon between the listing broker (us) and the seller (you). When you list on the MLS using our service, we are the listing broker. At closing, the closing agent or attorney will collect the commission. The portion of the commission due to the buyer’s agent will be paid directly to the agent. We collect a very small portion of the buyer’s agent’s commission (either “1/10th of 1 percent” or "1/4 or 1 percent") of the contracted sales price, the rest goes directly to the agent that brings a buyer.
This fee is not additional – it is deducted directly from the buyer’s agent’s commission that you determine before listing your property. This is a compliance fee and is used to cover administrative, compliance, technology & document storage cost, and to employ and enforce any policies and procedures required to be compliant with State Laws & MLS rules. If there is no buyer’s agent, then you are not charged ANY commission at all!
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