2.15.2009

How much does using a REALTOR cost?

This has to be one of the first things we discuss on this blog as there are a huge amount of misconceptions about this.

True or False? - When you call a realtor and use them to find updated listings, show you homes, do additional research on homes you are interested in, and negotiate contracts for your best interests you pay the Realtor out of your pocket.... the answer? False.

Very few people realize this very important fact. The way real estate is set up in Colorado - the buyers involved can have a professional real estate broker represent them and help them - and not have to pay for their services!

The way it is usually set up is the person selling the home in the first place has hired a listing agent and part of what they have paid that listing agent then goes to pay the buyer's agent at the closing of the deal! So this is a huge protection for the buyer! - YOU! You get a professional to watch your back and the seller has to pay for their services in the vast majority of cases. All these details are usually confirmed in writing in your buyer's agency contract. Make sure you read this carefully, as some Realtors can write it to make you responsible for paying them in some cases, but by far the majority do not. I always write the buyer's agency contract for the best interests of my buyers and make sure that the listing agent is where I end up getting paid from at closing.

Hopefully this helps clear up the common misconceptions that so many have about using a Realtor! If you have any additional questions on how this works exactly, or to see an example of how I write that buyers agency contract for your best interests, feel free to email or call me at 970-213-9394.

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