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Working with a real estate agent is important, especially if you’re a first-time buyer, and or purchasing a home in an area you’re not familiar with. But who pays the real estate agent commissions in Oregon? While it’s negotiable, it is usually the seller who pays these fees.
In Oregon, as in most states, the person(s) selling the home typically pays both real estate agent commissions. The money for this comes out of the proceeds from the sale — at least in those cases where the seller is making a profit.
That’s usually how it works. But like many aspects of the real estate process, this is all negotiable. These and other details will be spelled out within the real estate purchase agreement / contract.
Home buyers can benefit from this customary practice. When you buy a home, you can get professional help from a licensed agent without paying for it out of pocket. So there’s really no reason for buyers to “fly solo.”
This leads to another common question among home buyers and sellers. How much are real estate agent commissions in Oregon?
This too can vary. The traditional and customary commission for a real estate transaction is 6% of the purchase price. This amount is usually split between the buyer’s and seller’s agents, with each receiving 3%.
The commission structure can vary depending on the agent’s (or agency’s) business model and the specific services they provide. The customary 6% figure mentioned above is often used when the agents are providing comprehensive services for their clients. Some real estate companies provide more limited services in exchange for lower commissions / fees.
Real estate market conditions can also affect these fees. In a sluggish housing market where sales are few and far between, agents might be more inclined to offer reduced fees to attract clients. In a more active market, these competitive commissions might become more of a rarity.
So that answers the primary question: Who pays real estate agent commissions in Oregon? In a typical transaction, it’s usually the seller who pays these fees. But it can negotiated.
What about the services you receive, as a buyer? What does a buyer’s real estate agent do for his or her clients?
This is a basic overview of the services provided by real estate agents in Oregon. Some agents might offer additional services that are not shown above, or fewer services in the case of discount brokerages. Buyers should find out exactly what services are going to be provided, before deciding to work with a particular agent.
Are you ready to buy a home and apply for a mortgage? We can help. Sammamish Mortgage is a local mortgage company from Bellevue, Washington serving the entire state, as well as Oregon, Idaho, and Colorado. We have been providing many mortgage programs to buyers since 1992. Please contact us if you have financing questions, or if you’d like to receive a mortgage quote.
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