Released: January 19, 2007

Is your realtor on your side?

Source: Stephen Gandel, Money Magazine

When you’re shopping for a house, it might appear that the friendly broker who listens to your needs, drives you around to showings and answers your questions is unflaggingly devoted to you.

In reality, however, most agents work for sellers. Now, even more so. These days, see, agents representing buyers are increasingly being showered with extra incentives that may cause them to push certain houses.

Traditionally, sellers pay 6 percent commissions - 3 percent to their agent, 3 percent to the buyer’s agent. But with the market slowing, sellers are upping the slice going to buyer’s agents. In Livingston, N.J., Roseland Properties is offering 5% to buyer’s brokers alone.

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