Leaving the Military

Perhaps my language was a bit harsh but I'm generally a little negative towards businesses that maximizes profit through sales and not service. However, I will retract my "a little too greasy for me" statement as well as implying that a mortgage lenders reputation isn't quite as tarnished as a real estate agents.

We can continue to debate on another thread but right now we're not helping NAVYSKINSFAN.

It will be a little tougher time now than it was for your friend since the market has cooled pretty substantially.

Not here in PA. It depends on the area. Here, especially in south-central PA where I am, everyone from NY, NJ and MD are moving here because their states' taxes are killing them. We're still booming here.

I bought a home 18 months ago when there was still a surplus of homes for sale, so prices were low and so were interest rates. I bought at the absolute perfect time because supply and demand has made prices go up a lot since then, which is GOOD for realtors. Also, interest rates have gone up about 1/2 point from the all-time lows we saw. There is a LOT of new construction, but the prices of prebuilt homes are still rising. My home's market value has risen 15-20% since I bought it! Great equity earned.

NAVYSKINSFAN - Thanks for what you've done for us with your service. http://www.rightnation.us/forums/style_emoticons/default/salute.gif Good luck with your job prospects.

buster, you beat me to it. anyway, thanks again navyskinsfan for everything you have done so that people like me can enjoy the fruits of the #1 country in the world. and my wife is in the mortgage business and deals with alot of realtors. with the customers, they are generally ok. with each other, thats a different ballgame. lots of playing around, ending in divorces

Here in Washington state they make the seller pay both agents (your agent and the buyer's agent). That's a bunch of BS if you ask me.

Here in Washington state they make the seller pay both agents (your agent and the buyer's agent). That's a bunch of BS if you ask me.

I'm pretty sure that's how it works in most places.

I'm pretty sure that's how it works in most places.

Wow, not on my mortgage. That sounds like a horrible law.

My agent's fees were included in our closing costs, however, he was so awesome that he got the seller to pay all of the closing costs since we didn't have a lot to put down. :)

Wow, not on my mortgage. That sounds like a horrible law.

My agent's fees were included in our closing costs, however, he was so awesome that he got the seller to pay all of the closing costs since we didn't have a lot to put down. :)

I'm willing to bet that the seller paid the commission when you bought your house. Commissions are different than closing costs. Here's a summary of how it works in PA:
Allegheny County Family Law Attorneys :: Buying a Home in Pennsylvania FAQ :: Mt. Lebanon Divorce Law Firm (http://www.shahlawgroup.com/attorney-lawyer-1030858.html)

More general info:
Who Pays Real Estate Commissions - Who Pays the Real Estate Agent - How Does an Agent Get Paid (http://homebuying.about.com/od/realestateagents/a/Whopaysagents.htm)

As far as I know it is common practice for the seller to pay the commision. It is usually 6% and the selling agent agrees to split it with the buying agent. I don't that the buying agent is ever entitled to anything. I'd be surprised if that isn't the way it is every where.

That's how it works here in VA. Our buying agent had to settle for a 2.5% commission versus the "standard" 3% and the selling agent got a 3.5% commission. It turned out to be a case of Little Fish trying to stick it to the Big Fish.

yeah, its 3%/3% here and then the company (remax etc) take a chunk of that 3% - unles you pay a monthly desk fee, in which case you pay monthly whether you sell or not, but keep the full 3% from sales, which is obviously better if you're high volume.