Negotiating Real Estate Commission in SA (Crawford: sales, new house, buying)

[pr57001]

I'm looking to sell a house in $300Ks and buy in $600K-$700K.

Does anyone have success stories in negotiating commissions where the same agent works both deals? Specifically attractive would be a lower commission on the sale or a rebate of a portion of commissions on the purchase.

I would also like to add an additional commission if the sale is above a certain amount or the purcase below a certain amount, to better align the realtor with my interests. Ideally this would be paid to only my side of the deal. What reaction will I get when I present this?

Not actively working with an agent at this point, but the target purchase properties have already been identified. Agent I would like to use works for a large brokerage in town.

Any suggestions?

[TexasRedneck]

Generally speaking, they'll negotiate for a 4-5% commission on your sale in exchange for getting the deal on your new one. Offering a "bonus" for a full-price offer, etc - will work only if the asking price is realistic in the first place - but yeah, it WILL get their attention!

Good luck!

[SsnTktHldr]

Sent you a PM.

[kevcrawford]

From a Realtor's perspective (so take with a grain of salt if you wish), there is no set real estate commission. Everything is negotiable.

Be careful who you choose to represent you both on the buy and sale. You may find someone willing to discount the commission, but if they're not a good Realtor, they may not be as good at selling the house, negotiating, etc and you may actually LOSE money. You may find a great one that'll do it too. Don't just choose the cheapest, because the wrong decision can cost you money. When I have a client, and a deal comes in, I can tell quickly if we'll be able to maximize our dollar or will be in for a difficult negotiation just based on the Realtor representing the other party. There are certain names that I see where my eyes get as big as dinner plates knowing it'll be an incredibly easy negotiation.

For the purchase, you want to make sure that Realtor knows the market you're looking at. There is a difference in buying $200k houses and buying luxury homes. Make sure you get someone that's knowledgeable about both.

Don't try to make the commission rate contingent on you getting a certain sales price. YOU'RE the one that accepts a price. Your Realtor is there for advice in that field. If you find a good Realtor that comes recommended to you, they will negotiate the BEST sales price for you. Period.

Most in the field know that they make MUCH more in the long run by negotiating a great deal for their client and getting a lifetime of referrals (or even ONE) than they do by trying to convince you to take less and get a quick sale.

Make sure that you hire one that you trust and will listen to. I'm not saying take their advice as gospel, but if you don't trust your Realtor, it'll be a miserable relationship and you won't be as successful in your sale as you could me.

[Paka]

I TOTALLY RECOMMEND Kevin Crawford for as being an OUTSTANDING real estate agent!

Placed our property on the Market on Friday and had our offer on Monday!!!

He goes ABOVE AND BEYOND to ensure that every property he lists is given the same attention to details. I was a little intimidated by the fact he sells million dollar homes, but he sold ours (NO WHERE NEAR 1MIL) home over the weekend!!!

Got service from him that made us FEEL like we were his $$$$ customers.

BTW, this is CURRENT info...just closed last week.

Never met him before CDF, only knew him from this site, and glad that my gut instinct was so correct. Buying or selling, he is THE man.

[RosieS]

Is it important for a buyer to get a realtor from a large firm?

[kevcrawford]

No. It's important for a buyer to get a Realtor that comes recommended by someone they trust. The firm has absolutely nothing to do with your Realtor's knowledge or expertise. I started with a small firm, went to a boutique agency and just moved to a large one (but small office). My moves were based solely on what was best for me and which ones I think were best for my listings, based on what they offered.

[TexasRedneck]

Originally Posted by RosieS

Is it important for a buyer to get a realtor from a large firm?

No - in fact, the exact opposite might well be true. Some of 'em tend to get the "We're the big guys" 'tude, which usually requires some "come to Jesus" time with 'em, and I don't have time for that garbage. I'd suggest you at least consider Kevin - he's on here regularly, giving suggestions/advice as appropriate - that's the kind of helpful guy/gal you want!

[Paka]

Originally Posted by RosieS

Is it important for a buyer to get a realtor from a large firm?

Not at all...in fact I was personally uncertain given the calibre of homes that Kevin sells...anyone with multi million dollar homes I thought would find sales such as ours minor, but FAR from the truth!!! Kevin treats EACH seller and buyer like they are selling/buying a multi million dollar home.


Again, having closed last week, ONLY STATING FACTS BASED ON OUR EXPERIENCE!!!! Getting a house sold in THIS market in one business day is something to be EXCITED about!

[SsnTktHldr]

I have to agree with the small firm vs large. I have used large firms in the past and just got lost in the shuffle it seemed like, not to mention any specifically. I just signed on a new house in Steubing Ranch this week using a small local brokerage and realtor and they were much more helpful, and more importantly always available. We hope to close and move in the beginning of Sept and I did save on the commission having them handle both sides. I would be happy to recommend to anyone, just PM me. They were great!