1. Commission:
The commission is a pre-negotiated amount paid by the seller. If a buyer has a broker, it's split 50/50 between the seller's and buyer's brokers. Else, the seller's broker keeps it all. There is no "discount" by going directly.
2. Fiduciary Responsibility:
The buyer broker's fiduciary responsibility is to the buyer.
3. Negotiations:
The buyer's broker can negotiate the best deal based on understanding of market trends, comparable tools and relationships.
4. Identifying the right property:
Good brokers see property every day and can filter the right ones based on your objectives.
5. But.. not just any broker:
Anyone can be a broker, just like anyone can start a business. Hence, spend time interviewing several brokers to select the best fit.
PS: There has been many situations where buyers who went directly, or who think they're too smart to use a broker, end up overpaying or losing out on good deals. Do yourself a favor, spend time interviewing brokers and get a good one to represent you.
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