Does a seller only pay $4999?

No, here is why. There is what they call, a commision for the buyers agent. If you do not pay this, chances are that the buyers agent may not have an incentive to bring a buyer over to you. Very few people work for free, it is just not sustainable. On the other hand, we significantly reduce our commission to save you thousands while the buyers agent commission is always given the amount agreed upon by the seller. This too can be negocatied with the buyers agent, however, very seldom they would reduce the agreed amount. The seller will generally award the buyers agent anywhere from 1% to 3.5%. Generally, 2% is normal. On the otherhand, if I represent the buyers side, I will accept the amount you are going to give the other agent, this will only be fair. However, out of kindness, I sometimes reduce the amount if i am representing both sides. You just have to ask!

CA DRE# 02153822

All information is deemed reliable but not guaranteed and should be independently reviewed and verified.