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Zillow to Acquire Trulia for $3.5B

dealbook.nytimes.com

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Re: Zillow to Acquire Trulia for $3.5B

#171
post #60

Earlier quoted context omitted.

Interesting how the division works in other markets. In the UK people generally do their own negotiation, the tours are arranged by calling the seller's agent, the surveys are arranged to the standards of the mortgage company (and in Scotland, rolled into the "home report" at the seller's expense). Once you've selected a property you hire a conveyancer who handles title search and almost all the paperwork.

That’s almost exactly how the purchase of my house in the US worked. There’s definitely no requirement that a buyer use an agent.

Did the seller use an agent? If so, did the seller's agent receive the full 6% commission that would normally be split with the buyer's agent?

Re: Zillow to Acquire Trulia for $3.5B

#172

Earlier quoted context omitted.

Regarding the US, I think the typical deal is that the seller's agent and broker each get 1.5%, and the same for the buyer's agent. Some agents are their own brokers, but I believe that's rare.

This split is about how the realtor splits their commission with their employer and/or the umbrella company which provides marketing, access to MLS etc., right?

Yes. The broker is the one who is "really" doing the transaction. A broker can handle a deal on their own; an agent must use a broker as well. Wikipedia's not-entirely-clear description is here: http://en.wikipedia.org/wiki/Real_estate_broker#The_differen...
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