Looking for property without buyer agent - contacting listing firms (gated communities, percentage)
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Ivoc - do buyers agents, whether in your MLS or not, count as cooperating brokers where you are? Would anyone that brought an offer in be a non-cooperating broker? Are you defining cooperating by your "Realtor" regs or state law?
You still seem to have some desire to find a magic potion that sets the world loose because you don't like the way it is.
Actually I still consider the system pretty berserk. No rational person trying to develop a way to sell RE would pick the one we have. But that is the problem with posterity...those who went before.
The class referred to as "cooperating broker" is well and precisely defined as those who are members of the MLS. In our case you end up having to be a Realtor as well but that is not really relevant.
There may well be opening in some states that provide you an opportunity to do what you would. But in Nevada and virtually all of the west you would fail. If your non MLS agent was very skilled and clever he might find a way to work a side deal. But if he was that good he would not be selling himself to you by kicking back part of his commission. He would be off taking advantage of the widows and orphans as required of any really good RE agent.
Strangely enough recent times have tended to secure the role of the agent even though many thought the rise of the internet etc. would send them to the place of the old stock broker. It has not broken that way. I think over the last couple of years commissions are actually up a bit and FSBO sales down. Weird I agree...one would have thought the present difficulties would have favored the free marketeer...but no...bad times favor the conventional apparently.
What job are we asking them to do for free? What job are other agents doing of his?? (actually a her) - opening a door? Why are listing agents so worked up over this when really all that's being asked is that they do their job of representing a seller? We are doing all the work finding a place and getting everything lined up on our end.
There are many agents offering a rebate - many. Sorry if you are offended with that.
The class referred to as "cooperating broker" is well and precisely defined as those who are members of the MLS. In our case you end up having to be a Realtor as well but that is not really relevant.
I find it hard to believe that every broker in "the west" has to be a member of the MLS to get paid a co-broke fee. That is what you are saying.
What job are we asking them to do for free? What job are other agents doing of his?? (actually a her) - opening a door? Why are listing agents so worked up over this when really all that's being asked is that they do their job of representing a seller? We are doing all the work finding a place and getting everything lined up on our end.
There are many agents offering a rebate - many. Sorry if you are offended with that.
Not offended by it at all as long as they are doing the job of a buyers agent. Which means they showing you the properties, let you in for your inspections, meet contractors for estimates etc. And how many different listing agents time will you use till you find the house you want to make an offer on? Do you have a limit or is as many as it takes?
Last edited by RickTucsonHomes; 09-11-2012 at 08:21 PM..
Location: Danbury CT covering all of Fairfield County
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Do you want to save a few dollars with this rebate or do you want a save a lot of money, time and headaches buying a home with a full time qualified local real estate professional? What services does this agency provide to you?
I find it hard to believe that every broker in "the west" has to be a member of the MLS to get paid a co-broke fee. That is what you are saying.
A cooperating broker doesn't have to belong to an MLS. It can be a non-MLS brokerage if you have an agreement of cooperation. That is what makes someone a "cooperating broker." An agreement. So if there is a written agreement between brokerages to share fees, that's cooperation. If there isn't, there is no cooperation. You are confusing philosophical issues with legal issues. Philosophically, buyers should pay their own agents and sellers should pay theirs. Period. Unfortunately, that doesn't work in the lending world so we stick with the old system of sellers paying listings agents who then cooperate and share with buyer agents.
Honestly, why don't you just work out a buyer agency agreement fee between you and your representation and not worry about the co-broke fee. Make the offer you want to make.
I think my favorite line in this thread was from the OP in #17 when they basically say "all the listing agent did was sell the home". It was at that point I decided the agents are fighting a losing cause with this one.
What job are we asking them to do for free? What job are other agents doing of his?? (actually a her) - opening a door? Why are listing agents so worked up over this when really all that's being asked is that they do their job of representing a seller? We are doing all the work finding a place and getting everything lined up on our end.
There are many agents offering a rebate - many. Sorry if you are offended with that.
You're taking my time which is limited and the most precious thing I own. If I'm giving half the commission I generally would like the other agent to do half the work.
OP, not sure how the agent will handle the rebate but you might plan on receiving a 1099 and paying income taxes. BTW, many agents put in the MLS that if they show a buyer without the agent the commission will be reduced to X %.
Your agent may not collect the whole commission.
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