Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
NAR has done studies and surveys on it. Last one I saw was I think around 85 % give or take a little used a buyers agent, but if you google it I think you should find it w/o major issues. I would guess at least half of those without agents are experienced investors that buy/plan to buy multiple properties.
The buyers commission is generally determined by the listing agreement between the seller and listing brokerage, so I don't have to negotiate commission with buyers. On commercial properties, the buyer does usually pay their own agent, but commercial is different animal.
The buyers commission is generally determined by the listing agreement between the seller and listing brokerage, so I don't have to negotiate commission with buyers.
I'm a little confused by that statement. If the Buyer signs an agreement with his agent to pay the agent/company 3%, then doesn't that guarantee that the buyer's agent will receive 3% of the sale price on anything the buyer buys? I understand that some or perhaps all of that 3% may come from the commission paid by the Seller, but if the Seller is paying nothing to the buyer's agent, then doesn't the Buyer have to pay that 3%?
The vast majority in our market use a buyers agent. The vast majority probably use buyers agency agreements, but circumstances where are buyers would have to pay their buyers agent for a listed property are extremely rare. So rare that I’ve never seen it happen.
Most buyers agents will accept a fair percentage offered by the listing agent.
Only exception where buyers may be asked to pay out of pocket might be for FSBO properties where the seller is unwilling to pay any commission.
I don't ever require buyers to make up the difference. If i show a house that shows 3% in mls, or 2 % it doesnt matter to me. I wouldn't ever ask buyer to pay the difference.
the last # I saw on a national level was ~90%. Now, were some of those Buyers "represented" by going straight to the listing agent and choosing no representation? I'm sure a small % were.
This question is intended mainly for Realtors, but if others would like to offer an opinion or comment, feel free to do so.
My question is: In your area, what percentage of the buyers who buy a house have a written Buyer's Agreement with an agent/company?
Question #2: What is the usual or customary percentage that the buyers agree to pay? I realize this rate would be negotiable (I think).
I hope that my questions aren't too personal. I can understand if you'd rather not disclose this information.
I'm sorry to be accusatory, but I can't help but ask - what's your motivation or reasoning for all of these questions?
As I've said before at least once - all of these issues have been discussed in the recent past on this forum. You could easily use the Search function and read up on the past topics. Most are within a year; not much has changed. There's also some lengthy discussion of current lawsuit(s) involving consumers (Sellers) and NAR, and the commission model/process, and whether that should be changed by law or not.
You might get answers to everything you're wondering about.
I don't ever require buyers to make up the difference. If i show a house that shows 3% in mls, or 2 % it doesnt matter to me. I wouldn't ever ask buyer to pay the difference.
Your prerogative for doing business.
We have coop fees of $1 to $3000+. So we learned to deal with it.
I'm sorry to be accusatory, but I can't help but ask - what's your motivation or reasoning for all of these questions?
As I've said before at least once - all of these issues have been discussed in the recent past on this forum. You could easily use the Search function and read up on the past topics. Most are within a year; not much has changed. There's also some lengthy discussion of current lawsuit(s) involving consumers (Sellers) and NAR, and the commission model/process, and whether that should be changed by law or not.
You might get answers to everything you're wondering about.
My reason for asking questions on real estate commissions and that sort of thing is that I may be selling a house or two in the near future and want to know what the customary practices are today with regard to commission rates, commission splitting, Buyer's Agency agreements, etc. I may even be buying another house in the near future also. I figure that it doesn't hurt to be informed about decisions which could easily cost me ten thousand to twenty thousand dollars in commission.
As for why I haven't done a search on these questions, I'm not sure exactly how I would search for my specific questions. If I did a simple word search on something like "commission", "split", "buyer's agent" or something like that, I would likely turn up thousands of results which I would have to wade through and still might not know the answer to my question.
I apologize if my questions bother you, but I assume that anyone reading my questions know that they are not required to provide an answer if they don't want to.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
