That depends on you and your broker. The listing broker will offer a percent or dollar amount to a cooperating broker (that would be your broker). When the transaction closes/records, then your broker is compensated that amount. If you signed a buyer/broker agreement, you might have to pay depending on how the agreement is written. Your broker may ask for a certain percentage/dollar amount from you at the close of escrow. If the compensation the listing broker is offering is at least the agreed upon amount then you pay nothing, else, you make up the difference. Your broker may also indicate they require only the compensation offered by the seller as stated in the multiple listing services.
Posted in: FAQ for Buyers