The 500 Realty Blog Archives

People always ask, are you a discount broker? Full service broker? Something in between?  The answer is YES, YES, and YES!  We offer discount fees, we always always give our customers excellent service, and we will do whatever is needed to help you buy or sell your home. 

 An example…we are working with clients in the $600,000 to $700,000 price range (buyers) and they are going to earn $13K to $15K!!!  That’s not a typo!  When the commission on a $600,000 home is 3%, then $500 Realty gets $18,000.  We give you back 75% of that!  In this case, the buyers are going to get just over $13,000 towards their closing costs!

 There’s no catch!  It’s that simple!  Why use anyone else?!

We are asked this question over and over again.  It IS confusing!  Let us try to clear up some of this confusion around buying a home and selling a home and who pays the commission.  First, only licensed real estate agents earn buying or selling commissions (at least in WA State that is). 

 Ok, so how does it work?

Selling Office Commission AKA the commission the agent earns by showing you a few homes is paid for by the SELLER.

Listing Office Commission AKA the commission the agent earns by listing the home on the MLS and this real estate commission is paid for by the SELLER.

If you are a buyer then it does NOT cost you to work with an agent to find you a new home or condo.  If you sign a Buyer’s Agency Agreement then you could be contracted to pay a commission - ASK YOUR REAL ESTATE AGENT ABOUT THIS IF YOU HAVE ANY QUESTIONS!!!

$500 Realty earns the Selling Office Commission and returns 75% of this commission TO THE BUYER on or after closing!

Of course there’s always more details around this but these are the basics.  Contact us or ask your local real estate agent about the buying commission or selling commission.  It can be confusing!