Agent Fees
--published on Q&A Forum on homestore.com
and San Jose Mercury News

Q: My husband and I are looking to buy a home in the next six months. We are planning to work with a licensed real estate agent to help us conduct our home search. What fees or costs are associated with using the services of such an individual?

There are some exceptions to the traditional 50-50 full commission split method of payment. The commission on the sale of a home is most often 6 or 7 percent. A fraction of real estate agents call themselves buyer's agents who may or may not require you sign a contract that makes you, the buyer, responsible for their fee. Some of them are discount brokers who work for a reduced commission, often because you agree to perform some of the duties associated with finding a home. New "virtual" brokers on the Internet are often discount brokers offering reduced commissions for less work. With so many different types of agents to represent you, take great care in selecting an agent who can meet your needs. Ask family, friends, co-workers, other professionals you've recently hired and others you trust for referrals to a variety of agents who have recently satisfied their needs.