Quick answer: There's no set commission rate in Spokane or Washington. Agent fees are negotiable, usually a percentage of the sale price, and paid at closing. Buyers in Washington sign a written agreement with their agent that spells out how the agent will be paid.
There's no set commission rate in Spokane or anywhere in Washington. What you pay an agent is agreed between you and your agent's brokerage, in writing, before the work starts.
Most agents charge a percentage of the sale price, paid at closing out of the sale proceeds. You don't write a check up front. If the home doesn't sell or you don't buy, in most agreements you don't pay a commission.
I'd rather explain how it works than throw out a number, because the right fee depends on your home, your goals and the services you want.
When you list your home, you sign a listing agreement with your agent's brokerage. It spells out the commission you'll pay your listing agent. It can also say whether you're willing to offer compensation to the buyer's agent, which is a separate decision we'll talk through together.
Offering buyer agent compensation is optional. But many buyers can't easily pay their agent out of pocket on top of a down payment and closing costs, so it can make your home more attractive to more buyers.
In Washington, buyers sign a written agreement with their agent's brokerage before working together. It covers what the agent will do, how long the agreement lasts and how they'll be paid.
In many purchases, the seller still pays some or all of the buyer's agent fee. Sometimes the buyer covers part of it, or asks for it as a seller concession in the offer. Your agreement should say exactly what happens in each case, so there are no surprises at closing.
I talk about compensation with my buyers up front, because it's good to know how everyone gets paid. This is my job, so I do get paid, but everything is negotiable and always has been.
At the start, we sign a buyer representation agreement that spells out my compensation. Ideally, the seller will agree to pay it. Once you find a home, I find out what that seller is offering buyer agents. When we write the offer, compensation is negotiated along with everything else.
A lot of the work happens where you never see it. For sellers, that includes pricing research, photos and video, marketing, scheduling showings, negotiating offers and keeping inspections, appraisal and closing on track. For buyers, it's finding the right homes, writing strong offers, negotiating repairs and catching problems before they become yours.
Most of my time on any deal goes into the part between accepted offer and closing. That's where deals fall apart, and where an experienced agent earns their fee.
"She expertly guided me in the sale of one house and purchase of another. Her expertise meant a $50,000 difference in my favor compared to what another realtor told me."
Jenifer P., Google review
Lower-fee and flat-fee options exist, and for some people they're a fine fit. Just compare what's included, not only the price. Ask who handles showings, who negotiates and who you call when something goes wrong at 8 p.m. on a Friday.
No. Commissions are negotiated between you and the brokerage and written into your agreement.
It varies. Sellers often offer to pay some or all of it, but buyers may cover part or ask for it as a seller concession. Your buyer agreement spells this out.
Yes. Buyers sign a written agreement with their agent that explains the services, the term and how the agent is paid.
No. Commissions are typically paid at closing from the transaction funds.
I'm always happy to sit down and explain exactly what I charge and what you get for it, with no pressure to sign anything.
Call or text Chelsea: 509.565.1581
Email: chelsea@mcfarlandprey.com
Office: 1402 S Grand Blvd, Suite 201, Spokane, WA 99203
Disclaimer: This page is general information, not legal, tax or financial advice. Laws, rules and programs change, so please confirm the details for your situation with the right professional, such as a real estate attorney, tax advisor, lender or the county. Chelsea McFarland is a licensed real estate broker with Prime Real Estate Group.
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