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Old 07-27-2012, 10:42 PM
 
186 posts, read 358,384 times
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Makes sense. Why would broker go with the buyer with an agent who and split the commission. He can keep whole 6% by going with you. Contact Seller's broker directly if you can instead of going through his agent.
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Old 07-27-2012, 11:13 PM
 
Location: DFW - Coppell / Las Colinas
30,043 posts, read 34,775,252 times
Reputation: 36120
Quote:
Originally Posted by Silverfall View Post
TrustbutVerify you have some serious problems with your Ifs.

So you could be moving forward with false assumptions. Personally I think you are over thinking it. If you don't want representation as you don't see the value, that is totally fine. Represent yourself.
This 100%.
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Old 07-28-2012, 06:30 AM
 
Location: NJ
17,579 posts, read 38,491,823 times
Reputation: 16102
Does the OP assume there is going to be a multiple bid situation?
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Old 07-28-2012, 07:31 AM
 
4,635 posts, read 7,266,413 times
Reputation: 4759
Quote:
Originally Posted by Falafelosophy View Post
Makes sense. Why would broker go with the buyer with an agent who and split the commission. He can keep whole 6% by going with you. Contact Seller's broker directly if you can instead of going through his agent.
You cannot assume the listing agreement calls for 6% commission.

Second, the listing agent's broker is going to refer one back to the listing agent.
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Old 07-28-2012, 12:58 PM
 
10 posts, read 12,839 times
Reputation: 11
valid points all - thanks for your feedback

as i mentioned in a previous post, i had not considered (nor was i aware of) the possibility of a variable rate commission - or a commission/fee structure where the seller's agent would receive less than the full commission if the buyer was not represented by an agent

i have sold several properties before - always using an agent - and this has never come up - (but i am sure it will next time i sell) - also - there have been other posts on this board reflecting the fact that the seller's agent may have more work to do if the buyer is not represented - and as such - the sellers agent would be entitled to the full 6 percent

regardless - as was pointed out - i have no idea what is in the sellers agreement with their agent - and it is probably best not to assume what is in their agreement

as a possibly interesting side note . . . assuming that i wanted or needed to sell my house in conjunction with purchasing this new one - i would be using an agent to do so . . . i wouldn't actually do this, as i am fairly certain which agent i would be working with to sell my house . . . but i wonder what would happen if in the course of interviewing new agents, i was to meet someone from their office - and then ask if i could put something in our agreement redcuing the agent fee to 3 percent - if the buyer is not representred by an agent . . . just sayin . . .

anyway - thanks again for all the responses - please keep them coming . . .
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Old 07-28-2012, 01:04 PM
 
10 posts, read 12,839 times
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showed this forum to a friend last night . . . he had another interesting idea . . .

he suggested that i ask the seller's agent if she would prefer if i had a buyer's broker or similar representation

the logic being - that if she had some sort of contract that reduced her commission if the buyer was not represented - and her commission was the same regardless - she would probably prefer to work with a local professional (that she probably already knows) - rather than some potentially smart-mouth, knows-just-enough-to-hurt-himself-or-the-deal, possible pain in the butt buyer (me)

on the other hand - if her agreement allows her to keep the entire 6 percent - she would probably say that she would prefer that i did not have representation

thoughts . . . other than the already stated obvious . . . that i am probably overthinking this : )
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Old 07-28-2012, 03:40 PM
 
Location: NJ
17,579 posts, read 38,491,823 times
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Quote:
Originally Posted by trustbutverify View Post
thoughts . . . other than the already stated obvious . . . that i am probably overthinking this : )
I don't think it can be stressed enough. That you are indeed way overthinking this.
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Old 07-28-2012, 07:38 PM
 
Location: Lexington, SC
4,281 posts, read 10,346,058 times
Reputation: 3700
Quote:
Originally Posted by manderly6 View Post
I don't think it can be stressed enough. That you are indeed way overthinking this.
Trust

With what you initially said about yourself, I agreed you had no need for a buyers agent......but the more you post/ask the more I think you are overly thinking this and you might well not be able to do this yourself.

One of the most flaky, not real life, never understood Ecomomics 101, barely could wipe his butt on his own, etc. people I ever knew was one who graduated from law school and never took/passed the bar.

I attributed it to him living in Berkeley CA and smoking to much dope.....LOL

Last edited by accufitgolf; 07-28-2012 at 07:53 PM..
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Old 07-28-2012, 09:08 PM
 
10 posts, read 12,839 times
Reputation: 11
golf -

i had to go back and re read your post from yesterday . . . and i tend to agree with your initial assessment . . . that i do not need a buyer's agent

regarding the overthinking . . . i think it may be more overwriting and/or a bit of fascination with this website and forum

given that this is/was my first post (on this or any forum), i may also have gotten caught up in the nearly instant and multiple responses - had it not been a slow friday during the summer and a rainy saturday today - i mght not have paid as much attention to this - or responded as frequently as i did

as with many things - my attendance at law school (usually) adds little to any process - save my ability to think critically and logically reconcile things - but I also tend to be overly verbose at times as well - not surprisingly i got that from law school as well : )

the above notwithstanding . . . .the title of my post and the thing i was really thinking about wasn't so much whether i needed a buyer's broker - but the potential economic incentive's for a seller's agent in the absence of a buyer's agent - and what, if any, experience people had with this

due to the nature of this format . . . i may have gotten off track a little . . . but i thoroughly enjoyed the journey . . . and i actually learned a few new things as well

it seems that there are some very well informed people on this forum that are willing to share interesting and potentially helpful info - and that's prety cool

i guess i was really expecting a bunch of other buyers to chime in with a confirmation of my thoughts . . . or a resounding denial from agents preaching that that could never happen (with the exception of a few bad/unethical actors) . . . but instead we have this . . . again, pretty cool

thanks again to everyone for your thoughts and input on this - i'll check back occassionally for new comments - and i'll try to contribute on some of the other topics
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Old 07-28-2012, 10:03 PM
 
4,635 posts, read 7,266,413 times
Reputation: 4759
Buying on LI? I'll tell you right now it is dog eat dog and you are best getting yourself a competent Buyer's Agent.

Consider yourself forewarned.
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