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Welll.... get an agent who can do arithmetic. Vicki knows the numbers.
And, no one pays 6% to sell a $400,000 house, unless they are hiring their favorite niece who just got a license, or they are taking pity on a down and out agent who needs charity.
I can say for fact this is definitely not an accurate statement.
Obviously your point that commissions are always negotiable is 100% correct though and should not be overlooked.
That's just handling money.
Commissions come from buyer funds any time the commission is baked into the purchase price.
It is about the same as Dad giving a 5 year old kid $10 to buy Mom a Mother's Day gift, and the child says, "Look what I bought you, Mom! And I paid for it myself!"
Oh okay. I just meant that I didn’t pay a commission above the purchase price.
That's just handling money.
Commissions come from buyer funds any time the commission is baked into the purchase price.
It is about the same as Dad giving a 5 year old kid $10 to buy Mom a Mother's Day gift, and the child says, "Look what I bought you, Mom! And I paid for it myself!"
I've had two 5-year olds, and all they said was "I bought it myself". I don't think anyone is misled, unless that youngster is somehow a successful model.
When the Buyer puts down 3.5%, how much do they fund?
20%, how much?
Only when the Buyer pays straight cash out of their own funds can one say the Buyer is paying it.
Well, maybe those who bought at 30% of today's value 30 years ago who lived in the home until they paid the mortgage off.
Because if I buy a house, and claim that I pay the entire commission, but the day I sell 7 years later (the average) my cost equity is 20% .... THEN who has actually paid the commission?
I've had two 5-year olds, and all they said was "I bought it myself". I don't think anyone is misled, unless that youngster is somehow a successful model.
When the Buyer puts down 3.5%, how much do they fund?
20%, how much?
Only when the Buyer pays straight cash out of their own funds can one say the Buyer is paying it.
Well, maybe those who bought at 30% of today's value 30 years ago who lived in the home until they paid the mortgage off.
Because if I buy a house, and claim that I pay the entire commission, but the day I sell 7 years later (the average) my cost equity is 20% .... THEN who has actually paid the commission?
the BUYER and THEIR lender.
Leverage in the transaction is irrelevant to commission discussion.
The contract and settlement statements both refer to leverage as "Cash Due From Buyer At Closing." The leveraged Buyer is just using OPM to meet their "Cash Due" obligation.
As it is, Buyer pays, and Buyer pays interest on their Buyer's Agent fees when leveraging the purchase.
The "Free Buyers' Agency" scam is one of the most shameful things promoted by NAR.
Leverage in the transaction is irrelevant to commission discussion.
The contract and settlement statements both refer to leverage as "Cash Due From Buyer At Closing." The leveraged Buyer is just using OPM to meet their "Cash Due" obligation.
As it is, Buyer pays, and Buyer pays interest on their Buyer's Agent fees when leveraging the purchase.
The "Free Buyers' Agency" scam is one of the most shameful things promoted by NAR.
When you put together a listing agreement.... do you fill out item 8 on page 3?
When you put together a listing agreement.... do you fill out item 8 on page 3?
Sure do.
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