FAQ - How do commissions work?

Q: When I buy a house or condo will I have to pay the realtor out of my own pocket?

A:  The simplest answer is NO.  Of course there are exceptions to every rule and you should contact a Realtor for more details.  But in your average real estate transaction the commission comes from the proceeds of the sale paid to the Seller of the property.  As a Buyers agent my sole responsibility is to my clients that are purchasing the property except in the case of Limited Dual Agency (if you decide to buy one of my listings).  The commission is paid from the seller to their brokerage who pays the commission to my Brokerage, Royal LePage Coast Capital Realty, who in turn issues my portion of the compensation.

 - Mike Vanderkruyk

See more info on agency rules and responsibilities in my blog post "Working With a Realtor"

 This blog/web site is made available by Mike Vanderkruyk for educational purposes only as well as to give you general information and a general understanding of Real Estate transactions, not to provide specific advice. By using this blog site you understand that there is no client relationship between you and blog/website publisher. The blog/web site should not be used as a substitute for competent Realtor or Legal advice from a licensed professional.