My little blog about fee for service real estate virginia
In between, there can be many other different arrangements depending on the real estate agent and the broker. In most listing agreements signed by a seller and an agent, the broker is essentially given the sole right to place the home on the market. In exchange for getting buyers interested in the property, the seller pays a real estate commission to the broker. This amount is a pre agreed percentage of the property's selling price, and is shared by the listing broker and the real estate agent who closed the deal. What all this means is that the real estate commission actually comes out of the pocket of the property seller.