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Procurring cause has nothing to do with buyers responsibility to pay commission. It is a matter between brokers. Try again.
Read what I posted again. It's in case there IS a procuring cause issue and we don't get paid by the other broker, we can seek the commission from the buyer. And, like I said, very few will actually go after the buyer to get the commission.
You don't. The SELLER will compensate them if/when you buy.
Remember that detail.
That isn't entirely true. When you sign a buyer agreement, you agree to a certain percentage paid to compensate your agent (I focus on listings primarily, but when I work with buyers, it is always 3.5%). Depending on compensation on the listing side, the seller will cover the 3.5%....sometimes though, it is only 3% or even less (sometimes FSBOs get cheap). At that time, it is up to the realtor if they want to pursue the difference in compensation. If I only show 5-6 houses and a contract is written, I would never go after the .5% if 3% was only offered, but if I have showed 25+ houses (which mind you has never happened to me, thank god), and a contract is put in for a $100,000 home, I would feel obliged to request the .5% at closing to make up for my time and expenses.
on the other side of things .... it's part of the business. You don't always win ... you don't always get paid. isn't this the way business really works ?Suppose , you pitch to sell a product or service in mobile al real estate and your not always the one that gets the sale. if the client goes with someone else .... you don't get a runner up prize.
My daughter and SIL were house hunting for the past few months for their first home. I referred them to the team of agents that had that both sold our last home and helped us buy the one we're in now. I think those two are very dedicated agents.
My daughter and SIL got cold feet about a month ago because the bidding wars are out of control in CO. They don't want to compete like that. So they wrote a really nice email to the agent/team and thanked them profusely for all their efforts, but explained that they decided to stay in their rental until next spring and then try again (promising to contact the agents for help again).
Both agents responded back that they completely understood the reluctance and would be standing in the wings when ever the need arises. They also suggested that my daughter, SIL, my husband, me and both of them all hook up for drinks, lunch or dinner one day to to stay in touch. (Never underestimate the power of referrals). My kid is young (27) and has a BUNCH of newlywed friends who are all well educated and looking forward to buying their first home as well. Who do you think my daughter will refer?
If you have consented to a purchaser agency arrangement with the operators, you could be committed to paying him a commission as gave the composed office understanding. The agreement presumably has a procurement such that you will lead all transactions through him and that you will allude all interchanges from dealers to him.If you don't have a composed understanding, you most likely have no commitment with respect to pay.
For the last 6 weeks I have been working with a Realtor to buy my 1st home. We met for about an hour twice a week, and about two hours for 3 Saturdays. As a total, we visited almost 16 houses.
I did not sign any document or agreement with her. She gave me her portal where I searched the listenings. If i like some homes, I contact her to schedule visits.
She run 2 comps for me. And answered my emails when I have questions.
I had some health issues during this period, but lately my doctor scheduled a procedure and some tests that i need to do for the next few weeks. I would like to to stop the house hunting process, maybe for 5-6 months, and focus more on my health 1st, and resume when i get well.
I'm a little bit unconfortable to inform her, and I don't know how should I compensate her?
Any input / suggestions would be very helpful.
Thank you
I was thinking of sending an agent I worked with a gift card, but I haven't yet. We never had a signed agreement either but she showed me several homes. I ended up buying a house with another agent and there's really no nice way to say that. The only reason that I ended up working with another agent is because I felt that she only wanted to show me certain homes based on the list of features I told her I was looking for, however I wanted freedom to look at other homes without her making me feel like I was wasting her time. So I found an agent who was willing to show me whatever I wanted to see and we found a house quickly. Was I wrong for that?
I was thinking of sending an agent I worked with a gift card, but I haven't yet. We never had a signed agreement either but she showed me several homes. I ended up buying a house with another agent and there's really no nice way to say that. The only reason that I ended up working with another agent is because I felt that she only wanted to show me certain homes based on the list of features I told her I was looking for, however I wanted freedom to look at other homes without her making me feel like I was wasting her time. So I found an agent who was willing to show me whatever I wanted to see and we found a house quickly. Was I wrong for that?
I would say yes. If you tell someone "this is what I am looking for", then they do what you asked them and you bail on them and waste their time because you didn't tell them you wanted to expand your search, IMO, is a crappy thing to do. I have had multiple clients ask me to expand their home searches, and I did it because its my job.
I don't know the whole story, but if you never had the conversation with them that you wanted to expand your home search and you assumed she would make you feel like you were wasting her time, then you have some issues.
I would say yes. If you tell someone "this is what I am looking for", then they do what you asked them and you bail on them and waste their time because you didn't tell them you wanted to expand your search, IMO, is a crappy thing to do. I have had multiple clients ask me to expand their home searches, and I did it because its my job.
I don't know the whole story, but if you never had the conversation with them that you wanted to expand your home search and you assumed she would make you feel like you were wasting her time, then you have some issues.
She had gotten to a point where she thought I would find fault with every house I looked at. The house I ended up buying, I actually hated the photos so I didn't want to ask her to show me that one. Turns out it was more impressive in person.
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