|
To really understand how
the
Bluebird program works to your advantage, you
must first understand how standard real estate
commissions are paid. A standard real estate transaction
pays a 6% commission. The 6% commission is usually
divided equally between the Listing Agent, sometimes
called the Seller’s Agent, and the Buyer’s Agent.
Standard procedure is for
the Listing Agent to set the amount of commission the
Seller will pay, usually 6% of the Selling price, at the
time of taking the listing. Then the Listing Agent will
generally offer 3%, to the procuring Buyer’s Agent to
bring a Buyer to purchase the property. It is expected
that if the Seller doesn’t offer 3% to the procuring
Buyer’s Agent, they will forego showing that home, in an
effort to make a full 3% for themselves. So for an
example, on a $600,000 property, the Listing Agent will
leave the closing table with an $18,000 check, and the
Buyer’s Agent will leave with another $18,000.00
check for a total Realtor sales expense of $36,000.
Since the Seller pays the
commissions, many Buyers’ Agents have claimed that the
Buyer doesn’t pay for their services. However, it has
been our observation that the Buyer is the only one
spending money at the closing table, and everyone gets
paid from those funds.
Kind of makes you wonder,
doesn’t it?
|
