Watch Out for ‘Gotcha’ Clauses in Homebuyer Representation Contracts
Banker & Tradesman, March 3, 2024–Lew Sichelman
Would you pay a 9 percent commission to buy a house? It’s conceivable, if you’re not careful.
If you sign a contract with an agent to represent you as the buyer – a so-called buyer-broker or buy-side agent – you are committing to pay them a commission when the deal is done. Let’s say that’s 3 percent of the sale price – half the rate that the listing agent collects.
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