Q: I don't want to use an agent when buying a house. Does the seller's agent get the buyer's agent's % of commission then?
A: Yes. The agent has a listing contracting with the seller, in which seller agrees to pay listing agent a certain % fee. If there is another agent involved on behalf of buyer, then the two agents will share it, called a "co-op" fee. Otherwise, if the buyer does not have an agent, then the listing agent keeps the entire % paid by the seller. Since you would not pay any more if you have your own agent representing you, it is prudent to have a buyer's agent assist you and negotiate on your behalf. Your agent might even be able to help you negotiate a lower price. Or, you could tell the seller that you won't use an agent, and if the listing agent will reduce the commission % by a certain amount, you can split that savings with the seller. It also is prudent to have an attorney assist you with any major purchase, such as real estate. Use the Find a Lawyer tab to consult a local real estate attorney.
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