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The No. 1 question we get from folks who are either new homebuyers or new to buying homes in Virginia is this: “Who pays the commission of the buyer’s and seller’s agents? How does it work?” To show you, I’ll use this example.
I recently met with a client who contacted me through Zillow at a house. When I met him, we started to chat and I found that he was looking at a bunch of different houses with a bunch of different agents. I was curious about this.
He felt very strongly that he needed to interview multiple agents. I agreed with him, and think it’s a great idea. However, his reasoning was that he was going to be paying them a 3% commission, so he wanted to make sure to hire someone he trusted.
"It’s extremely important to interview multiple agents."
In Virginia, commissions work a little differently. The sellers are actually the ones who are responsible for the commission for both agent's. However, the amount they spend on the buyer’s agent commission is usually reflected in the sale price.
Whether you’re looking to buy or sell, it is extremely important that you interview multiple agents and find one with the experience, communication skills, and business savvy to help you accomplish your goals.
If you have any questions for us, don’t hesitate to give us a call or send us an email. We look forward to hearing from you.