Hi,

Feeling overwhelmed by all the real estate lingos.
I signed an 'exclusive agency listing and right to sell' agreement with
a realtor. (What's the difference between a realtor and a broker
anyway? Are they the same?) The commission is 6% which covers buying
and selling.

I am trying to understand exactly what this means - especially on the
buying part. Is the guy produces a buyer, he gets all 6%, of course. If
some buyer happens to see the 'For Sale' sign on the front lawn, calls
him up and offers to buy, he gets the 6%, that I can also understand.
What if another borker sees it on the MLS and produces the buyer? I
certainly hope I will not have to pay that other broker on top of the
6% that I will have to pay my owner broker. Please help me understand!


John