Buyer's Agent Commission

[Minerva Stewart]

What is a standard commission for buyer's agent? And if I don't find a property through agent, is there a flat fee I'm supposed to pay. 

I recently reviewed a buyer's agreement which stated 3% on gross selling price, plus $695 flat fee in addition to percentage, for services provided. 

[Russell Brazil]

Quote from @Nathan Gesner:

Quote from @Minerva Stewart:

What is a standard commission for buyer's agent? And if I don't find a property through agent, is there a flat fee I'm supposed to pay. 

I recently reviewed a buyer's agreement which stated 3% on gross selling price, plus $695 flat fee in addition to percentage, for services provided. 

There's no such thing as a "standard" commission. They could charge 4% of sales price, 8% of sales price, or a flat fee of $4000. You can even find discount brokerages that will charge 1% or even as low as $500.

Just remember: you get what you pay for.

 In real estate sales though I don't think you actually get what you pay for. The crappy agents by and large charge the same amount as the good agents. I think though a lot of the crappy agents are going to be forced out of the industry by the structural changes that are coming.