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Whoaaaaaaaaaaa there horsey.... While I don't have a problem with a seller or buyer working their very best deal, facts are, the more you pay in commission, the faster and more your home will sell for. I see far more people shoot themselves by being cheap with a truly professional Realtor than by paying for value. A pro-Realtor is as professional as a skilled surgeon and you surely wouldn't cut yourself or hire the lowest cost brain surgeon.
I agree, there are lots of less than professional real estate licensees out there, but there are some wonderfully talented and experienced people who will be worth every dollar they are paid.
Stop flying with the wings tied on with telephone wire. It will cost you.
Are we to assume that you would be acting as a buyers agent vs collecting your commission from a seller as an agent representing the buyer?
I'm saying the buyer's agent would collect her fee from the buyer, not the seller, and that part of the fee would be paid up front. The other part would be paid when/if the buyer closed on a house. Only the second part of the fee would be contingent on actually closing on a house. The first part would be the agent's to keep, whether the buyer ever closed on a house or not.
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I don't understand what you're getting at since commissions typically come from the sellers brokerage. Can you elaborate some and I'll try to answer?
I'm asking whether agents would consider shifting some of their risk - that the buyer will never buy a home, for example - onto the buyer, in exchange for a discount.
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Whoaaaaaaaaaaa there horsey.... While I don't have a problem with a seller or buyer working their very best deal, facts are, the more you pay in commission, the faster and more your home will sell for. I see far more people shoot themselves by being cheap with a truly professional Realtor than by paying for value. A pro-Realtor is as professional as a skilled surgeon and you surely wouldn't cut yourself or hire the lowest cost brain surgeon.
Realty isn't brain surgery.
But even if it was... surgeons don't get a percentage of the brain, when they sell one.
But even if it was... surgeons don't get a percentage of the brain, when they sell one.
Which they don't.
LOL!!! I have a picture in my mind of a surgeon selling a brain on the Black Market....
I don't think there is anything wrong with that arrangement per se. The only thing I would suggest is to make sure the offer is reasonable. For example, let's say you paid $500 up front. The agent agrees to take 2.5%, refunding you the 0.5% at closing. I would be cool with that if you did most of the legwork up front - i.e., you've narrowed your choices down to two homes and you walk in with a solid pre-approval letter. Something like that. If you want to use that agent to sell your home as well, then that agent should definitely give you a lower rate.
, facts are, the more you pay in commission, the faster and more your home will sell for.
Bull Shizzle....
I'm sorry, if I'm a seller and want to sell my home fast, I'm going to go with an HONEST realtor who will price my home to sell correctly , and not one who put's his wallet ahead of my interests first.
Let me guess? Youre one of those realtors who will show a prospective client a home w/a higher commission first, correct? (Be damned what the actual buyers INTEREST or most importantly his NEED is, right?)....Lovely.
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Originally Posted by tomocox
, A pro-Realtor is as professional as a skilled surgeon and you surely wouldn't cut yourself or hire the lowest cost brain surgeon.
Enough with this surgeon comparison crap already! If you've been visiting this board long enough you'll know there are many terrible "professional" realtors out there. Its buyer beware unfortunatley like everything else.
I'm saying the buyer's agent would collect her fee from the buyer, not the seller, and that part of the fee would be paid up front. The other part would be paid when/if the buyer closed on a house. Only the second part of the fee would be contingent on actually closing on a house. The first part would be the agent's to keep, whether the buyer ever closed on a house or not.
I'm asking whether agents would consider shifting some of their risk - that the buyer will never buy a home, for example - onto the buyer, in exchange for a discount.
Realty isn't brain surgery.
But even if it was... surgeons don't get a percentage of the brain, when they sell one.
Which they don't.
Sure...half the commission up front for a .5% reduction. It would take a good bit of doing to put together...which may make it nonviable. I am, for instance, not willing to give up half my time for the next five years in return for a $5,000 payment. The buyer wants to be sure he gets a reasonable effort. Putting that into a written contract is no small task.
Much easier would be pay $100 an hour billable weekly and deducted from any commission received. That way you can also fire the agent if, after a short period you don't like how it is working.
LOL!!! I have a picture in my mind of a surgeon selling a brain on the Black Market....
I don't think there is anything wrong with that arrangement per se. The only thing I would suggest is to make sure the offer is reasonable. For example, let's say you paid $500 up front. The agent agrees to take 2.5%, refunding you the 0.5% at closing. I would be cool with that if you did most of the legwork up front - i.e., you've narrowed your choices down to two homes and you walk in with a solid pre-approval letter. Something like that. If you want to use that agent to sell your home as well, then that agent should definitely give you a lower rate.
I was thinking more along the lines of $1000-$2000 down, and $1000-$2000 at closing.
As far as narrowing it down to two houses... I'm not sure I understand that. It sounds like you're saying most of the work involves showing houses?
Because that's not really the part of having an agent that's valuable to me.
I was thinking more along the lines of $1000-$2000 down, and $1000-$2000 at closing.
As far as narrowing it down to two houses... I'm not sure I understand that. It sounds like you're saying most of the work involves showing houses?
Because that's not really the part of having an agent that's valuable to me.
That will work...as long as the house is valued between 33K and 67K.
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