U.S. CitiesCity-Data Forum Index
Celebrating Memorial Day!
Go Back   City-Data Forum > U.S. Forums > Georgia > Atlanta
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 06-28-2012, 11:57 AM
 
616 posts, read 877,820 times
Reputation: 378

Advertisements

Quote:
Originally Posted by ATL Golfer View Post
Some people, usually the ones with more money, don't have time for that. The want full service everything. They trust their agent.

Or if the buyer is new to the area/re-locating. They totally trust what the agent says (and doesn't say, non-verbal communication, etc) regarding schools, neighborhoods, etc.
Reply With Quote Quick reply to this message

 
Old 06-28-2012, 12:00 PM
JPD
 
11,849 posts, read 14,465,255 times
Reputation: 7536
Quote:
Originally Posted by ATL Golfer View Post
Some people, usually the ones with more money, don't have time for that. The want full service everything. They trust their agent.
So the people with all the money don't have time to, like, vet the people they do business with, and research the things they spend their money on?

Capitalism has become truly bizarre.
Reply With Quote Quick reply to this message
 
Old 06-28-2012, 12:08 PM
 
Location: Here
412 posts, read 727,171 times
Reputation: 220
Here's a scenario.....maybe the buyers (of your home) are trying to cover their listing cost (of selling their home)? I often wanted to have a listing realtor, since they get 3% of selling my home, represent me on the buy side (and since I'll be doing most of the research anyway) and rebate most if not all of the buying commission. What do you think realtors out there?
Reply With Quote Quick reply to this message
 
Old 06-28-2012, 02:29 PM
 
188 posts, read 237,531 times
Reputation: 219
Quote:
Originally Posted by NativeJr View Post
My agent is recommending that I just accept it and move on. The total commission would be 9.43 % with the listing agent getting 3% and the buyer's agent 6.43%. I am considering countering by asking that the commission negotiations be removed from the offer and negotiated separately. Then offering between 6-8% if it closes in one week. And let the agents determine the split.
Counter the sale price as you deem fit and completely IGNORE the commission. The agent can't "hide" your counter-offer from the buyer. When the buyer sinks his teeth in, THEN tell the buyer's agent that his commission request is absurd. In this way, you win over the buyer and the buyer's agent is forced into contention with his own client (and the agent will likely back down).

If the agent continues to push hard AFTER your counter which presumably offered the buyer a lower-than-listed-price, THEN raise your price. When the buyer asks his agent what happened, his agent will once again be in contention with his own client.
Reply With Quote Quick reply to this message
 
Old 06-28-2012, 02:54 PM
 
Location: Here and There
317 posts, read 426,680 times
Reputation: 493
^^^ Ding! Ding! Ding! We have a winner! This is what I would do.
Reply With Quote Quick reply to this message
 
Old 07-25-2012, 11:49 AM
 
265 posts, read 340,181 times
Reputation: 184
Quote:
Originally Posted by FlyingFox View Post
Counter the sale price as you deem fit and completely IGNORE the commission. The agent can't "hide" your counter-offer from the buyer. When the buyer sinks his teeth in, THEN tell the buyer's agent that his commission request is absurd. In this way, you win over the buyer and the buyer's agent is forced into contention with his own client (and the agent will likely back down).

If the agent continues to push hard AFTER your counter which presumably offered the buyer a lower-than-listed-price, THEN raise your price. When the buyer asks his agent what happened, his agent will once again be in contention with his own client.
This is what I really wanted to do, but after a year on the market and a total loss of faith in the system, I countered with 7.5% commission, split however they agents desired.

Although my agent would have done what I told them to, they did not support me playing hardball with this agent. They wanted me to cave-in and just pay her the full additional amount she wanted (6.43%). In the end, she got 4.5% and my agent got 3%.

I really felt like if I did not give in to her money grab, she would have derailed the sale.
Reply With Quote Quick reply to this message
 
Old 07-25-2012, 02:36 PM
 
8,287 posts, read 11,476,861 times
Reputation: 4938
Quote:
Originally Posted by NativeJr View Post
This is what I really wanted to do, but after a year on the market and a total loss of faith in the system, I countered with 7.5% commission, split however they agents desired.

Although my agent would have done what I told them to, they did not support me playing hardball with this agent. They wanted me to cave-in and just pay her the full additional amount she wanted (6.43%). In the end, she got 4.5% and my agent got 3%.

I really felt like if I did not give in to her money grab, she would have derailed the sale.
Having worked in the business for 17 years I would never renegotiate what the stated commission for a buyer's agent is. In fact more than a few times I've had to give up a portion of my commision just get the the sale closed.
The buyer's agent is unscrupulous knowing that his buyer could pay cash & close quickly while knowing that your property had been on the market for a long time and you were probably desperate. I bet you also didn't get a full price offer either.
As for the MLS they can't control what can or can't be payed regarding commisions and everything is negotiable in a offer anyways including the commision.
Reply With Quote Quick reply to this message
 
Old 07-25-2012, 03:00 PM
 
924 posts, read 1,128,950 times
Reputation: 362
Quote:
Originally Posted by NativeJr View Post
This is what I really wanted to do, but after a year on the market and a total loss of faith in the system, I countered with 7.5% commission, split however they agents desired.

Although my agent would have done what I told them to, they did not support me playing hardball with this agent. They wanted me to cave-in and just pay her the full additional amount she wanted (6.43%). In the end, she got 4.5% and my agent got 3%.

I really felt like if I did not give in to her money grab, she would have derailed the sale.
That is something I would want to know as a buyer. I would even tell them at the end of closing so they can not use that buyer's agent again in the future if they want.
Reply With Quote Quick reply to this message
 
Old 07-25-2012, 08:33 PM
 
86 posts, read 134,161 times
Reputation: 21
Is this situation common in Atlanta? Is it common elsewhere? As a seller, I would never accept an offer that asked to pay the buying agent more than is listed in the agreement. Why would I? (Did they go above and beyond to bring an amazing buyer to me with no contingencies? Are they offering me above asking and the additional commision just equals to my asking?) As a buyer, why would I want my agent to ask for more commision for them? That is selfish. With the extra money that the seller would be shelling out to the buying agent for an additional commission, I think should go to the buyer as a lower price for buying the house. The agent is already getting a commision, why are they being greedy to my detriment? I think this is unethical. I understand there are shady realtors out there, but this just seems abnormal.
Reply With Quote Quick reply to this message
 
Old 07-25-2012, 09:40 PM
 
Location: Cary, NC
31,596 posts, read 55,320,924 times
Reputation: 30155
Quote:
Originally Posted by bsharynu View Post
Is this situation common in Atlanta? Is it common elsewhere? As a seller, I would never accept an offer that asked to pay the buying agent more than is listed in the agreement. Why would I? (Did they go above and beyond to bring an amazing buyer to me with no contingencies? Are they offering me above asking and the additional commision just equals to my asking?) As a buyer, why would I want my agent to ask for more commision for them? That is selfish. With the extra money that the seller would be shelling out to the buying agent for an additional commission, I think should go to the buyer as a lower price for buying the house. The agent is already getting a commision, why are they being greedy to my detriment? I think this is unethical. I understand there are shady realtors out there, but this just seems abnormal.
"Winning the race to say 'No' first."
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Georgia > Atlanta
Similar Threads
View detailed profiles of:
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top