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Old 05-04-2018, 08:45 AM
 
595 posts, read 377,457 times
Reputation: 1021

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Quote:
Originally Posted by GoPhils View Post
Eh, in my area at least there are very few FSBO's so not much to choose from to begin with, and many of the ones there are are either overpriced (because they seem to tack the missing commission onto the price they want) or don't even respond to inquiries.

It's annoying enough selling crap out of my garage on craigslist, I couldn't really imagine doing that with the house itself. I would certainly like to see lower commission %'s for agents, but I don't think they should disappear completely. If it's a seller's market I'd argue that you do "need" a buyer's agent if nothing else to open the door. I've tried contacting listing agents directly and often times they will either try to pawn you off to a buyer's agent in their office anyway or not respond, most likely expecting that they'll sell it to someone that already has an agent anyway.
I agree with the bolded above. I am not in a hurry and am patient. The market area here was "hot" and now has gone "stale" or "neutral." Listings are sitting at more than 30-45 days, which has not been the norm for the past few month's. Seller's are either not negotiating or are priced too high. I am sitting back and watching the listing's, they'll drop their price or sit longer. My biggest hurdle is pet restrictions, or I would have purchased already. There were quite a few very reasonably priced units that filled my needs, with exception to what I wrote already.
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Old 05-04-2018, 08:59 AM
 
Location: Columbia, SC
8,852 posts, read 17,453,334 times
Reputation: 6212
Quote:
Originally Posted by photogal9 View Post
I get that, everyone's time is valuable outside of work, there's more to life than work, we all would prefer to work less and still live a life.

RE's would rather list for the reason you state and /or other reasons, as it is less "work" and they can list more properties with less "time" and earn a fair/good/great wage based on their going commission rate.

I'm still and will always be of the mindset that buyer's agents are not needed. Educated buyers can facilitate if they wish, the use of a listing agent or go FSBO, the latter being my preference.
It's not less work or less time necessarily, just controllable time. I control when I do things for listings but I have to show buyers homes when they are available. Really we never know in advance the time or challenges that will be needed to complete a transaction.

Also, why do you keep posting that you'd prefer there be no real estate agents but you've been on here a lot asking for advice? Without agents you'd be paying for advice from attorneys or spending tons of time doing your own research. Instead you pay an agent for the tons of time they spend doing research at closing rather than paying an attorney up front or spending your time learning how to do something.

Do you also hate mechanics? Doctors? Lawyers? Same concept. Pay someone to do it for your or do it yourself.

Last edited by Brandon Hoffman; 05-04-2018 at 09:15 AM..
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Old 05-04-2018, 09:14 AM
 
595 posts, read 377,457 times
Reputation: 1021
Quote:
Originally Posted by Brandon Hoffman View Post
It's not less work or less time necessarily, just controllable time. I control when I do things for listings but I have to show buyers homes when they are available. Really we never know in advance the time or challenges that will be needed to complete a transaction.
I'm glad you responded. One thing I meant to ask; is it more gratifying to you, as a buyer's agent? Finding them their perfect house, the fulfillment of their American dream?

Just curious.
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Old 05-04-2018, 09:17 AM
 
Location: Columbia, SC
8,852 posts, read 17,453,334 times
Reputation: 6212
Quote:
Originally Posted by photogal9 View Post
I'm glad you responded. One thing I meant to ask; is it more gratifying to you, as a buyer's agent? Finding them their perfect house, the fulfillment of their American dream?

Just curious.
I find it equally gratifying to help any appreciative person accomplish their goal.
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Old 05-04-2018, 03:03 PM
 
17 posts, read 10,742 times
Reputation: 49
Ok, sorry to keep the suspense on the written offer....

That 3% commission is not listed anywhere in the counter. The buyer's agent has her own counter form that went to my agent to request the 3%. So, my agent can a) decline the request of 3%, b) accept and take only 1% for herself, or c) accept and re-negotiate our contact from 4% to 5%.

The buyers counter is a hefty chunk off our current asking price, + sellers pay all closing, + upgraded home warranty, (+ the 1% addt'l commission that they don't know their agent has asked for), OH and + our new-ish SS refrigerator

Legally, no wording can be in our counter regarding the commission (and the agent's request for an addt'l 1%)

Fortunately, we have another offer on the table along with this one. We are countering both, advantage to offer #2 which is favorable to go through. On offer #1 I told our agent we will not re-negotiate to 5% commission, and she will not take 1%...so the buyer's agent will get a decline on the 3% request.

Hopefully in considering our counter, the buyer's agent can keep her client's interest best in mind and not be spite full of (only) making ~15k on this potential deal.

...and on a funny little twist...turns out that the people who's agent is asking for more commission...(see if you can follow this...) their daughter is married to the son of very good friends to my mother-in-law. So my mother-in-law's very good friend and these potential buyers, are in-law related. My mother-in-law may have relayed the agent's request of more commission to her very good friend, who may be relaying that information to her son's in laws . Of which, mind you, I have not instructed her to do so...just having a conversation with my mother-in-law...
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Old 05-04-2018, 03:26 PM
 
595 posts, read 377,457 times
Reputation: 1021
Quote:
Originally Posted by amy_lou View Post
Ok, sorry to keep the suspense on the written offer....

That 3% commission is not listed anywhere in the counter. The buyer's agent has her own counter form that went to my agent to request the 3%. So, my agent can a) decline the request of 3%, b) accept and take only 1% for herself, or c) accept and re-negotiate our contact from 4% to 5%.

The buyers counter is a hefty chunk off our current asking price, + sellers pay all closing, + upgraded home warranty, (+ the 1% addt'l commission that they don't know their agent has asked for), OH and + our new-ish SS refrigerator

Legally, no wording can be in our counter regarding the commission (and the agent's request for an addt'l 1%)

Fortunately, we have another offer on the table along with this one. We are countering both, advantage to offer #2 which is favorable to go through. On offer #1 I told our agent we will not re-negotiate to 5% commission, and she will not take 1%...so the buyer's agent will get a decline on the 3% request.

Hopefully in considering our counter, the buyer's agent can keep her client's interest best in mind and not be spite full of (only) making ~15k on this potential deal.

...and on a funny little twist...turns out that the people who's agent is asking for more commission...(see if you can follow this...) their daughter is married to the son of very good friends to my mother-in-law. So my mother-in-law's very good friend and these potential buyers, are in-law related. My mother-in-law may have relayed the agent's request of more commission to her very good friend, who may be relaying that information to her son's in laws . Of which, mind you, I have not instructed her to do so...just having a conversation with my mother-in-law...
I'm glad you have a second offer as this first one is full of potential drama..... and if you did accept offer #1, it's still contingent on that buyer selling their current home.

I'm pulling for #2, good luck!
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Old 05-04-2018, 03:41 PM
 
16,512 posts, read 17,561,528 times
Reputation: 23599
Quote:
Originally Posted by amy_lou View Post
Ok, sorry to keep the suspense on the written offer....

That 3% commission is not listed anywhere in the counter. The buyer's agent has her own counter form that went to my agent to request the 3%. So, my agent can a) decline the request of 3%, b) accept and take only 1% for herself, or c) accept and re-negotiate our contact from 4% to 5%.

The buyers counter is a hefty chunk off our current asking price, + sellers pay all closing, + upgraded home warranty, (+ the 1% addt'l commission that they don't know their agent has asked for), OH and + our new-ish SS refrigerator

Legally, no wording can be in our counter regarding the commission (and the agent's request for an addt'l 1%)

Fortunately, we have another offer on the table along with this one. We are countering both, advantage to offer #2 which is favorable to go through. On offer #1 I told our agent we will not re-negotiate to 5% commission, and she will not take 1%...so the buyer's agent will get a decline on the 3% request.

Hopefully in considering our counter, the buyer's agent can keep her client's interest best in mind and not be spite full of (only) making ~15k on this potential deal.

...and on a funny little twist...turns out that the people who's agent is asking for more commission...(see if you can follow this...) their daughter is married to the son of very good friends to my mother-in-law. So my mother-in-law's very good friend and these potential buyers, are in-law related. My mother-in-law may have relayed the agent's request of more commission to her very good friend, who may be relaying that information to her son's in laws . Of which, mind you, I have not instructed her to do so...just having a conversation with my mother-in-law...


I don’t see a mention of your first born in the offer. I would think they would want that too? No signature in blood?
I never expected your agent to take 1% commission.


I’ve had buyers like that. They think because you’re selling that you someone’s should be paying for everything. I’ve had a rental applicant tell me that I’m asking too much for for deposit. Simple don’t rent from me.
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Old 05-04-2018, 05:05 PM
 
Location: Athol, Idaho
2,182 posts, read 1,057,742 times
Reputation: 3184
Quote:
Originally Posted by amy_lou View Post
Ok, sorry to keep the suspense on the written offer....

That 3% commission is not listed anywhere in the counter. The buyer's agent has her own counter form that went to my agent to request the 3%. So, my agent can a) decline the request of 3%, b) accept and take only 1% for herself, or c) accept and re-negotiate our contact from 4% to 5%.

The buyers counter is a hefty chunk off our current asking price, + sellers pay all closing, + upgraded home warranty, (+ the 1% addt'l commission that they don't know their agent has asked for), OH and + our new-ish SS refrigerator

Legally, no wording can be in our counter regarding the commission (and the agent's request for an addt'l 1%)

Fortunately, we have another offer on the table along with this one. We are countering both, advantage to offer #2 which is favorable to go through. On offer #1 I told our agent we will not re-negotiate to 5% commission, and she will not take 1%...so the buyer's agent will get a decline on the 3% request.

Hopefully in considering our counter, the buyer's agent can keep her client's interest best in mind and not be spite full of (only) making ~15k on this potential deal.

...and on a funny little twist...turns out that the people who's agent is asking for more commission...(see if you can follow this...) their daughter is married to the son of very good friends to my mother-in-law. So my mother-in-law's very good friend and these potential buyers, are in-law related. My mother-in-law may have relayed the agent's request of more commission to her very good friend, who may be relaying that information to her son's in laws . Of which, mind you, I have not instructed her to do so...just having a conversation with my mother-in-law...
I think this buyers agent is greedy.
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Old 05-04-2018, 05:33 PM
 
436 posts, read 465,334 times
Reputation: 1407
Stick to your guns. I have to laugh at the "higher end". Your listing agreement is a contract with your realtor with an agreement on the commission. If she doesn't like, it, too darn bad. I know of what I speak as a realtor of almost 30 years. She is making your contract with the buyer, all about her. Her buyer agreement is with her buyer. If she wants more $$, then the buyer has to cough it up somewhere. As others have told you....forget what she has said. So, as a "high end" buyer, she is missing out on all the wonderful people there are from first timers to those selling the family home that are sort of "middle of the road". Who does she think she is????
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Old 05-04-2018, 07:43 PM
 
Location: Saint John, IN
10,638 posts, read 3,324,377 times
Reputation: 12748
Quote:
Originally Posted by photogal9 View Post
I'm glad you have a second offer as this first one is full of potential drama..... and if you did accept offer #1, it's still contingent on that buyer selling their current home.

I'm pulling for #2, good luck!


Me too!
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