Realtor is on vacation.. found a house we really like!

[Disney Doll]

House for sale could go for $100,000, but because of the Realtor's commission, it is for sale for $120,000. The buyer does pay the commission in the end....

I doubt there is any realtor in the world who makes a 20% commission.
Typically it's 6%.
Please don't post misinformation.

 

[cbg1027]

House for sale could go for $100,000, but because of the Realtor's commission, it is for sale for $120,000. The buyer does pay the commission in the end....

If the house is supposedly worth $100k, and then get's listed for $120k by it's owner, who is not using a Realtor, then the house won't sell. So no, a buyer is not the one paying the commission.

I doubt there is any realtor in the world who makes a 20% commission.
Typically it's 6%.
Please don't post misinformation.

Definitely no Realtors make 20%. And the Realtors don't really even make 6%. If they work in a national chain office, the national chain takes a chunk, the local franchise owner of the office takes a chunk, and then the other Realtor in the transaction takes a chunk. At the end of the day, most Realtors end up with 1.5%, unless they represented both sides, in which case they may get 3%.

Thank you - I appreciate all the insight! And no, we have not signed anything with anyone yet. (Well, besides the bank). I had my husband call his cell today while I was at work. He apologized because he had been sick all weekend and didn't check his work email. He IS on vacation, but he's staying in town while his kids are out of school. When I spoke with him this evening, he had already emailed the realtors selling those houses, and he asked what times would be good for us. Hopefully we will be seeing the houses Wednesday or Thursday!

That's great! Hope things go well.