Who pays the Realtor's fees in Colorado? It is a greatquestion and one that often comes up right after the excitement of going undercontract on a home wears off and the finances come into play. In the simplest terms, the seller pays thecommission for both the listing agent selling the home and the buyer's agentrepresenting the buyer.
To get technical, the seller actually pays the RealEstate Company who is representing them.The company in turn pays the Realtor representing the buyer. So for buyers in Colorado, there is really noexcuse to not have a Realtor representing you in the largest purchase you willever make in your life. It doesn't costthe buyer a penny, you get professional representation and advice and an agentwho knows the Colorado Real Estate contract and laws inside and out to protectyour earnest money and best interests through the entire transaction.
And for the seller, it maybe difficult to stomach having to pay two commissions. But if you can imagine, most Realtors don'tlike to work for free and if there is no incentive for agents to show yourhouse to their buyers, you might have a pretty tough time getting it sold. As further proof of the need for professional representationwhen buying or selling, only 2% of all For Sale By Owners actually sell. And when they do, they sell for significantlyless than those sold by a Realtor. Soonce you take that into account, if you really want to get your home sold fortop dollar and avoid potentially being sued down the road, then hiring an agentto sell your home starts to sound better and better.
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