Florida Real Estate Agents Fees and Commissions

The Exclusive Buyer Agent Advantage

"A recent study by U.S. Sprint found 233 relocating Sprint employees who hired a " buyer brokers" paid an average of 91% of a home's list price. People who used traditional agents typically pay about 96% of a home's list price. On a house priced at $150,000, that's a difference of $7500."

Money Magazine

Mutual Commitments

An Exclusive Buyer Agent makes a 100% commitment to his buyers and abides by the highest standard of ethics. He agrees to always work in their buyers best interest. An EBA may require a commitment from their buyer in the form of a retainer. This is paid by the buyer when a representation agreement is finalized and may be refunded at closing.

Flat Fee or Percentage ?

The basic philosophy behind Single Agency Representation and the Exclusive Buyer Agent is that the EBA works exclusively for the Home Buyer's benefit.

In Florida, the Seller pays a commission to sell his property. This commission is normally based on the final sales price of the property. If the property sells for more, the commission is higher. This creates an incentive for the sellers agent to get the highest possible price.

Part of this commission the Seller pays goes to compensate the Buyers Agent. Here is where a percentage commission works against the Buyer. The more the EBA saves his buyer the lower the percentage commission.

To remove this conflict, EBA's can offer their clients a mutually agreed Flat-Fee.

Agent and Brokerage Fees

Fees are generally paid by the Seller as part of his Listing Contract with the Listing Brokerage. Fees are always negotiable. The Listing Brokerage is required to offer a commission to the "Buyer Agent" if the listing is placed in the MLS. In Florida, some Listing Brokerages charge the Buyer's Agent a "transaction fee".

Commissions are paid at closing and included on the HUD statement for all to review. The Title Company is responsible for all the closing documents and making sure all monies are received and disbursed properly.

In Florida, a buyer agent may work on a percentage commission based on the final sale price of the property or a Fixed or Flat Fee. If a Flat Fee is agreed to, the Seller paid commission is paid directly to the buyer at closing.

The Exclusive Buyer Agent Advantage

Flat Fee or Percentage ?

Agent and Brokerage Fees

Exclusive Buyer Agent Fees