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Just call up another office and ask for a new agent that will work for the pittance commission. Minimum commissions are the only reason to open up the doors to these properties.
Just call up another office and ask for a new agent that will work for the pittance commission. Minimum commissions are the only reason to open up the doors to these properties.
Why wouldn't because a buyer wanted to buy the property, which is the basis of the interaction, not be the only reason? The commission itself or consideration of a commission is secondary. A buyer doesn't care what the agent feels he needs to make--much like what a seller needs to get out of his property has nothing to do with what a buyer wants to pay.
Why wouldn't because a buyer wanted to buy the property, which is the basis of the interaction, not be the only reason? The commission itself or consideration of a commission is secondary. A buyer doesn't care what the agent feels he needs to make--much like what a seller needs to get out of his property has nothing to do with what a buyer wants to pay.
You answered your own question. The buyer may not care about the commission but the agent sure as sugar does. When you go to work, do you consider your income to be a secondary, ancillary bonus for showing up?
The issue is anyone who has worked with these properties, myself sincerely included, knows that for every one buyer with cash in hand, there are many, many more that just want to look. These people cost agents money every day. Would you be as eager to drive to work if you knew that there was a miniscule probability that you would be paid?
The OP may be an exception to the rule, and my goal is too not make this a commission pity party for those of us in the field, but rather shed light on why we aren't all gung ho eager to work small deals. Hence why the OP may be better off calling an office and using a new agent that is still desperate to cut deals. The experience won't be there but they are much more likely to jump out of bed at 6am on a weekend to open doors for a couple hundred bucks.
Why wouldn't because a buyer wanted to buy the property, which is the basis of the interaction, not be the only reason? The commission itself or consideration of a commission is secondary. A buyer doesn't care what the agent feels he needs to make--much like what a seller needs to get out of his property has nothing to do with what a buyer wants to pay.
It costs money to run a business. Sad, but true. If a buyer doesn't want to pay it, then they can move on to another agent that has time to spend on transactions like that. It will likely be a rookie. The best part about this for the rookie agent is that many brokerages have transaction fees. So let's say the agent pays the brokerage $350 per transaction and they agree to work for a $500 commission. They get to pay their split, their transaction fee, their gas all out of that $500. You really want someone writing an offer that can't do basic math? Agents that can't do basic math often have the privilege of paying their brokerage to sell homes. That's one way to weed out agents.
I had never made an offer. And here is the update: She left me a message telling me that if I hadn't selected another agent, to give her a call back. So now it appears it is one of those, see if you can get away with it, and if they don't bite, fold like a lawn chair. But, now I am offended, and it is unlikely that I will call her back. I always have time to teach the underhanded a thing or two about business. BTW, I stated clearly that I had cash, and would provide proof, and it is not reliant on the close of my house.
My Realtor in Summerlin was first class, top notch, and drives an E-class (and is foxy to say the least), and has a degree from UNLV. She got me an REO for 35K, and actually did a little footwork, never once asked me to cry her a river.
I had never made an offer. And here is the update: She left me a message telling me that if I hadn't selected another agent, to give her a call back. So now it appears it is one of those, see if you can get away with it, and if they don't bite, fold like a lawn chair. But, now I am offended, and it is unlikely that I will call her back. I always have time to teach the underhanded a thing or two about business. BTW, I stated clearly that I had cash, and would provide proof, and it is not reliant on the close of my house.
My Realtor in Summerlin was first class, top notch, and drives an E-class (and is foxy to say the least), and has a degree from UNLV. She got me an REO for 35K, and actually did a little footwork, never once asked me to cry her a river.
Who is your Realtor in Summerlin? Would love to connect, been exploring that area for REO SFH's for a while. Inventory really has dried up. Congrats on your pickup!
It's been almost three years. ReMax on W. Sahara. Maybe go their directory and find the pretty one with the UNLV degree. Can't give her name to strangers without permission, but if you give me your #, I will pass it on to her Facebook page. I would look in Henderson....there is an older part and more available. SFRs in Summerlin are up there pricewise, but of course way cheaper than the higher end markets of LA and SF. Cats must be on leash, at my old HOA, and in 2009 they were going to take in 40K in interest income on the reserves. 332 units.
You answered your own question. The buyer may not care about the commission but the agent sure as sugar does. When you go to work, do you consider your income to be a secondary, ancillary bonus for showing up?
The issue is anyone who has worked with these properties, myself sincerely included, knows that for every one buyer with cash in hand, there are many, many more that just want to look. These people cost agents money every day. Would you be as eager to drive to work if you knew that there was a miniscule probability that you would be paid?
The OP may be an exception to the rule, and my goal is too not make this a commission pity party for those of us in the field, but rather shed light on why we aren't all gung ho eager to work small deals. Hence why the OP may be better off calling an office and using a new agent that is still desperate to cut deals. The experience won't be there but they are much more likely to jump out of bed at 6am on a weekend to open doors for a couple hundred bucks.
Actually for more than a decade I have been employed on a commission only basis. I have to present proposals to clients every day and if I don't close a deal, I don't get paid. I don't cry about what I have to do in order to to realize positive results and reach success. That's just part of the business I chose to be in. Real estate is the only industry that comes to mind where its a prevailing thought (although indirect) that the needs of the consumer --who creates the transaction to begin with --after discussing what you're going to earn or what you will or won't do first. Service providers provide a service for the customer's benefit, or are the industry professionals just gate keepers and the consumers have to cater to your whims?
Actually for more than a decade I have been employed on a commission only basis. I have to present proposals to clients every day and if I don't close a deal, I don't get paid. I don't cry about what I have to do in order to to realize positive results and reach success. That's just part of the business I chose to be in. Real estate is the only industry that comes to mind where its a prevailing thought (although indirect) that the needs of the consumer --who creates the transaction to begin with --after discussing what you're going to earn or what you will or won't do first. Service providers provide a service for the customer's benefit, or are the industry professionals just gate keepers and the consumers have to cater to your whims?
Any time a service person is going to charge a fee for services, whether it's commission based such as real estate, or other service provider, that fee should be discussed and agreed on up front. There should not be any surprises for either party later on.
A buyers agent has the right to have a minimum fee that s/he will work for. Usually that minimum is charged because anything below that would cause the agent to lose money due to out of pocket expenses, overhead that needs to be covered, and the value of time.
However, that minimum should be discussed up front; and there should be an employment agreement between the two parties so there is a clear understanding. If the buyer and agent cannot come to an agreement on the fee, then they don't have to work together.
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