Realtor's Commission Question (Jersey City: condos, how much, buyers)

[jamestang]

Hi all,

I've recently been searching for condos in the Jersey City area. I found one that caught my eye, talked to the realtor, and went in to take a look. I loved the place, which was one of 6 newly constructed condos in a rennovated building. However, in the end, I decided on another unit in the building that was not listed by this realtor.

So, while getting information about the closing process, the realtor told me he is compensated on a commission basis. My questions is should he be representing me and helping me negotiate the price with the owner? Or should I get another realtor that will be fully on my "side" and deal with the owner directly? While he is a great guy and very helpful, I'm concerned that I won't be getting the best price possible since his commission is tied to how much I pay for the condo.

What do you think I should do in this situation?

[DodgeViper01]

Any realtor you work with will THINK that the more they sell the condo for, the more their commission, but just because they think this does not mean that they are going to try to get you to pay more or rip you off. Very few realtors do things of that nature but some do so I would say feel out your realtor. Did he do something for you to suspect that he does not have your best interest in mind? If so, change realtors. If not, stick with them. If you had a good relationship prior, there is no sense in changing realtors. Also by changing realtors, you are not necessarily getting a realtor that is "on your side" more so than the previous one you were working with. They are both buyers agents and that means they both do the same job.

[susienj]

I think the question is whether or not the owner of that unit is willing to pay a commission. You would need to ask the seller if he will cooperate with a broker.