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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We bought using an hourly realtor (Spicer Realty).  You can save a ton of money if you're buying a more expensive house (particularly in the $1mn plus range.  Yes, you pay a lot to get taken to showings and stuff, but we still got a large rebate (enough to furnish 3 bedrooms of our house) since they don't take the full 3%. [/quote]

Is this how it works?   Say you buy a $1M house and the agent gets $30,000.  
Do they take their $200 fee for writing the contact from that commission and you get the rest or do you have to pay them when they write the contract?  [/quote]

In theory (pre-settlement) what would happen is that the seller would pay less to the buyer’s agent than offered, then the difference (say 1% of the sales price) would go to reduce the price of the house or perhaps cover other buyer closing costs (to the extent permitted). When we bought without any agent (actually it ended up being dual agency) the seller agent took I think 4% commission.  So the sellers got an extra 2%. We did not get any concessions (eg we paid the list price and all closing costs) but it was a very competitive market so it helped us get the house with no escalation. [/quote]

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