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Old 04-07-2010, 09:25 AM
 
Location: Allentown, PA
58 posts, read 140,708 times
Reputation: 26

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Can someone tell me, in Virginia do they have the system where if you come to a property with a buyer's agent, the seller's agent splits the fee with the buyer's agent, and otherwise not? I want to look at a couple of properties, and I'm wondering if I'd better show up with an agent to avoid later having to pay them a fee.

Thanks--
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Old 04-07-2010, 12:45 PM
 
Location: Gray, TN
1,988 posts, read 3,661,285 times
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Usually the buyer's and seller's agents get 3% from the seller upon completion of the sale. Even if you go FSBO, get a buyer's agent, unless you are a highly experienced buyer. Work out the specifics with your agent before you start looking.
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Old 04-07-2010, 06:42 PM
 
Location: Richmond, VA
2,306 posts, read 1,344,982 times
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I am a little confused by your wording, but it's the seller who pays the commission. So I am a seller with an agent. I have my home for sale and agree to a 6% (or whatever you negotiate) commission. You are the buyer and you come to my home with a buyers agent and want to purchase my home. We come to an agreement. At closing I will pay the 6% commission which is typically split between my agent and your buyers agent. You don't pay the commission. Now, you will have closing costs unless you ask the seller to pay for them and that is negotiated in the deal.

I PERSONALLY think you should have a buyers agent. It protects YOU and it doesn't cost you anything. If you don't have an agent and you come to my home you have to remember the agent is acting on MY behalf. I would really consider getting an agent. Or at least speaking to someone about it.

Good luck!
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Old 04-08-2010, 07:41 AM
 
Location: Allentown, PA
58 posts, read 140,708 times
Reputation: 26
Thanks for your replies. Actually I intend to get a buyer's agent before I buy anything--I just wondered if it was crucial to have one from the start, because I read that the seller's agent splits the fee with the buyer's agent for bringing the buyer to the property. Of course, these days with the Internet it's easy to find a property without an agent, so maybe nobody really assumes that any more. I just wondered if finding the property on my own would release the seller's agent from having to split the fee.
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Old 04-08-2010, 08:12 AM
 
Location: Virginia Beach
486 posts, read 1,764,603 times
Reputation: 155
Quote:
Originally Posted by JQofPA View Post
Thanks for your replies. Actually I intend to get a buyer's agent before I buy anything--I just wondered if it was crucial to have one from the start, because I read that the seller's agent splits the fee with the buyer's agent for bringing the buyer to the property. Of course, these days with the Internet it's easy to find a property without an agent, so maybe nobody really assumes that any more. I just wondered if finding the property on my own would release the seller's agent from having to split the fee.
It would, but it's always in your best interest to have someone else representing you. Dual agency (when a Realtor represents both sides in a sale) is very tricky when it comes to negotiations.
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Old 04-08-2010, 11:16 AM
 
7 posts, read 33,967 times
Reputation: 14
Most agents work either way.

My suggestion would be to interview some agents with the various real estate companies or start with going to some open houses - see which agent you feel you can work with and start with them.

Normally in a house sale the seller pays all agents commissions - if you see a house that you want to put an offer in on and the agent you are working with is the agent who has listed the house for sale he/she will have you sign a statement (can't recall what it is called) that basically indicates working for both seller and buyer so can't discuss specifics with either (meaning your personal information like got to have a house in 4 weeks).
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Old 04-13-2010, 08:56 AM
 
Location: Hampton Roads
140 posts, read 470,139 times
Reputation: 51
I think the issue you are asking about relates to "procuring cause." If you begin looking at houses without a buyer's agent by making showing appointments directly with the listing agent, and then find your perfect house, you will not likely be able to then use a buyer's agent to purchase that house (or atleast the buyer's agent isn't going to get paid) because the showing with the listing agent was the procuring cause of that purchase. That's why, as several have stated above, your best bet would be to find a buyer's agent you are comfortable with from the beginning of your home search.
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Old 04-28-2010, 07:09 AM
 
Location: Allentown, PA
58 posts, read 140,708 times
Reputation: 26
Smile Thanks, BrianLMA!

Somebody finally got what I was asking. By now I had resigned myself to maybe paying the buyer's agent fee, since I couldn't get anyone lined up before I went to see the property. I was just interested in a particular property and was passing through the area on my travels, so I didn't have many options. As it turned out, I met someone in the area whose husband is in real estate, so I'll call him if I decide to pursue it further.

Why shouldn't he represent me if I'm willing to pay the fee? I thought there was something you could sign to guarantee the fee. (I found that researching the subject on the Internet.)
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Old 04-28-2010, 07:19 AM
 
Location: Virginia Beach
486 posts, read 1,764,603 times
Reputation: 155
I don't understand. Why would a buyer be paying any fee? The seller pays your agent's 3% as long as you are clear with them that your agent led you there, even if they are not with you.
ETA: If you have an agent who you want to represent you as a buyer, any sales agent I know will let the whole "procuring cause" thing slide if, say, you attend their open house. Just tell them you do have an agent.
Don't, however, make an appointment to see a house with a listing agent and then expect to bring someone else in to represent you in the sale.
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Old 12-11-2016, 07:47 AM
 
1 posts, read 3,512 times
Reputation: 10
Is there a way to pay less than the 6% commission? If so, how would I go about finding an agent who would work for less than 6%. I am a senior citizen moving into a retirement home and need every penny I can get out of my house to buy into the other setting.
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