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Old 09-05-2011, 08:22 AM
 
94 posts, read 215,004 times
Reputation: 31

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We are trying to sell our home. We have heard comments from people who are looking that they do not want a realtor. We have a realtor and have every intention of keeping her. It is the seller who pays the commision, so to me this makes no sense. Do shoppers not realize this? Also, how would they be able to even look at places, without a realtor, except fsbo?
Thanks for your ideas.
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Old 09-05-2011, 08:27 AM
 
Location: Baltimore
1,802 posts, read 7,793,973 times
Reputation: 1940
A buyer without a realtor could still look at any property by contacting the seller's realtor. I think as a buyer I'd prefer to have a realtor looking after my interests. Although I do sometimes wonder whether a realtor would really be trying to help the buyer get the property at the lowest price, since his or her commission is still dependent on the amount of the sale price regardless of who they are working for.
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Old 09-05-2011, 08:28 AM
 
Location: Sierra Vista, AZ
17,537 posts, read 22,881,766 times
Reputation: 9873
Quote:
Originally Posted by marian2005 View Post
We are trying to sell our home. We have heard comments from people who are looking that they do not want a realtor. We have a realtor and have every intention of keeping her. It is the seller who pays the commision, so to me this makes no sense. Do shoppers not realize this? Also, how would they be able to even look at places, without a realtor, except fsbo?
Thanks for your ideas.
Perhaps their credit is not all that it should be. Unless they are willing to pay cash i would pay no attention. Someone that close to not being able to afford the house is not a good risk

Every time I sell a house I get people who want me to do this or that, lower the price, sell fsbo etc. I always ask if they have made an offer because until they put their requests on paper they are nothing
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Old 09-05-2011, 08:57 AM
 
Location: Columbia, SC
10,217 posts, read 19,958,909 times
Reputation: 9022
Usually they think they can save money by not having one. While sometimes true, usually they just don't know half as much as they think they do.

Sometimes they don't have an agent because they feel by committing to an agent they might overlook a home somehow. This is definitely wrong.

Sometimes they aren't really a qualified buyer yet and a professional won't work with them, so they tell others they don't need an agent.
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Old 09-05-2011, 08:58 AM
 
Location: The Triad (NC)
31,935 posts, read 73,469,488 times
Reputation: 38874
Quote:
Originally Posted by marian2005 View Post
We have a (listing agent) realtor and have every intention of keeping her.
We have heard comments from people who are looking that they do not want a (or believe that they need a buyers agent) realtor.

It is the seller who pays the commission, so to me this makes no sense.
Do shoppers not realize this?
I'd say that most do.
The commission payment is in fact probably the route of most bias' against having a "buyers agent".

Quote:
Also, how would they be able to even look at places, without a realtor, except fsbo?
The internet.
Trulia is probably the best resource. Take a peek here.
Then they call the listing agent to get a walk through.
---

People who have bought before, have a few resources available to backstop them
(like inspectors, tradesmen and most importantly their RE attorney), have the time or inclination to do their own leg work...
can do a fine job by themselves.

Newbies, the clueless, and the overly busy are good examples of those who might be better served by a buyers agent to assist.
But even these people will still need to establish a relationship with an inspector, tradesmen and most importantly their RE attorney before they get very far into the process.

hth

Last edited by MrRational; 09-05-2011 at 09:45 AM..
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Old 09-05-2011, 09:05 AM
 
94 posts, read 215,004 times
Reputation: 31
Why were red phrases added to my question?

And yes I know people can look on the internet. I meant as far as actually getting inside the house to see it in person.

The buyer in any case pays an agreed upon price, so they shouldn't care what part goes to the seller and what to the realtor. The one that would save money by not using an agent would be the seller.

I appreciate any replies, just trying to see the logic in this.
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Old 09-05-2011, 09:21 AM
 
Location: The Triad (NC)
31,935 posts, read 73,469,488 times
Reputation: 38874
Quote:
Originally Posted by marian2005 View Post
Why were red phrases added to my question?

To point out the distinctions in terminology that the RE industry has created.

And yes I know people can look on the internet. I meant as far as actually getting inside the house to see it in person.

Asked and answered.

The buyer in any case pays an agreed upon price, so they shouldn't care what part goes to the seller and what to the realtor.

One principal issue is the common sense wisdom of whether Mr Brown the buyer...
can really trust Mr Jones the agent to have his best interest at heart...
when Mr Jones is being paid by Mr Smith the seller.


The one that would save money by not using an agent would be the seller.

Rarely. The seller is the one who needs an agent in almost every instance.
The buyer? not so much.
hth

Last edited by MrRational; 09-05-2011 at 10:07 AM..
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Old 09-05-2011, 09:25 AM
 
Location: Tempe, Arizona
4,511 posts, read 12,805,361 times
Reputation: 2199
Quote:
Originally Posted by marian2005 View Post
...And yes I know people can look on the internet. I meant as far as actually getting inside the house to see it in person.

The buyer in any case pays an agreed upon price, so they shouldn't care what part goes to the seller and what to the realtor. The one that would save money by not using an agent would be the seller.

I appreciate any replies, just trying to see the logic in this.
The solo buyer will try to get the listing agents to let them into homes they want to see. A bit inefficient, as they will have to contact multiple agents to see the homes instead of going through one agent.

Typically, such buyers will try to negotiate with the seller to reduce the listing price by the amount "saved" by not paying a buyer's agent.
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Old 09-05-2011, 09:53 AM
 
Location: Newton, MA
324 posts, read 1,012,551 times
Reputation: 273
The people I know who didn't use buyers agents were doing it for two different reasons:
1. wanted to look at FSBO properties and thought they could find a house for less money this way, and
2. they fundamentally didn't trust a buyers agent to look out for their interests over those of the sellers and wanted to have control over the process themselves.
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Old 09-05-2011, 10:04 AM
 
Location: Austin, TX
326 posts, read 713,807 times
Reputation: 183
Quote:
Originally Posted by rjrcm View Post
The solo buyer will try to get the listing agents to let them into homes they want to see. A bit inefficient, as they will have to contact multiple agents to see the homes instead of going through one agent.

Typically, such buyers will try to negotiate with the seller to reduce the listing price by the amount "saved" by not paying a buyer's agent.
When we started looking to buy a house in late 2006, the area we were looking was so hot that most fairly priced houses would be under contract in a day or two. Yet our agent at the time would not show up at appointments or always half hour to one hour late, and even told us to wait for a few days so that there would be a few houses she could show us together instead of showing one at a time. We wasted 6 months, lost some good opportunities, got so frustrated and when the contract was up with her, we decided that we were not getting in another contract with an agent. Some of the agents out there are so bad that people have all kinds of reasons not using them.
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