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Actually, I think I'm doing people a big service. I know there are a lot of realtors on the site and you folks don't like it when someone points out the economics involved, but I stand by everything I said. Honestly, can you not see that in the end, the buyer is paying both agents and can legitimately negotiate the purchase price based on the lack of an agent? Are you really claiming agents never agree to concede part of their fee? Everything is negotiable.
LOL.. nope.. agents will not concede part of their fee when the buyer has no agent.. because guess what? That agent now has those buyers as their "customers" and is dealing with BOTH sides of the transaction as far as work/paperwork and follow up is concerned (calling two attorneys, keeping up with the buyers banks, inspectors etc.. as far as follow up and follow through are concerned)! You can still work on both sides as long as you never compromised your clients (seller) sale price by giving information to the buyer (customer) that you shouldn't have (ie: the lowest price the seller is willing to take or information that may seem to put the sellers at disadvantage like they are divoricing and MUST SELL now or something along those lines).
It seems you really do not understand how real estate transactions truly work and you are giving misinformation which stands to hurt potential buyers with misperceptions.
I love when a non represented buyer thinks they are saving the Buyers agents commission. They don't understand the entire commission goes to my broker and I get a cut of the entire amount.
There is no savings to the buyer just additional income for the listing agent. Usually we earn it since we have to work harder to keep the unrepresented buyer on track to close on the home. There's more work on our end to protect the seller.
I love when a non represented buyer thinks they are saving the Buyers agents commission. They don't understand the entire commission goes to my broker and I get a cut of the entire amount.
There is no savings to the buyer just additional income for the listing agent. Usually we earn it since we have to work harder to keep the unrepresented buyer on track to close on the home. There's more work on our end to protect the seller.
Amen.. problem is sellers and buyers alike have NO IDEA the little things we do to keep the sale from falling apart... Buying and selling is highly emotional for both sides.. and it's a big deal. There are so many parties to a transaction and we are the hubs that keep it all together.. when there are two agents there's two of us handling and deaing within that hub.. but when there is one agent to the transaction it's twice the work..
If you understand real estate and can manuever yourself then you do not need an agent. If you are a first time buyer or are not familiar with real estate then it's in your best interest to get an agent.
If you understand real estate and can manuever yourself then you do not need an agent. If you are a first time buyer or are not familiar with real estate then it's in your best interest to get an agent.
Not everyone needs an agent.
Agreed, but most do.
And all these people thinking that they can come in without an agent and make the listing agent and seller re-negotiate a previously agreed upon compensation contract, they are mistaken. In no way is a realtor obligated to lower their compensation just because you don't come with representation. Sellers agree to pay 6% to sell their home, not 6% to sell their home if there is another agent and 3% if they have to do double the work working directly with a buyer. What commission the seller is paying is not part of any P+S agreement. The seller simply accepts your purchase price or not, whether the buyer is represented or not.
I'm not saying some brokers will allow this, but most do not, as they have absolutely no need to. They have a contract and they are doing their job well if they are selling the home successfully.
Another option - use a discount broker as your buyer's agent and get a rebate on the commission offset against your closing costs - saved us thousands of dollars
Sergio is right so is everyone you do not have to work with a listing agent who happened to show you the house You are a customer not a Client You become a client when you enter into a written agreement with a realtor then you will be represented as a client with YOUR best interest at hand. Good luck
Agreed with all, you need to be represented, and besides the buyers agent works for you, and the seller pays all the fees, so no expense to you. It certainly does not matter, that you visited without an agent. So good luck, and buy your home.
Hey Levitown I am orignially from Bayport been in Hilton Head 18yrs
Quote:
Originally Posted by TristansMommy
LOL.. nope.. agents will not concede part of their fee when the buyer has no agent.. because guess what? That agent now has those buyers as their "customers" and is dealing with BOTH sides of the transaction as far as work/paperwork and follow up is concerned (calling two attorneys, keeping up with the buyers banks, inspectors etc.. as far as follow up and follow through are concerned)! You can still work on both sides as long as you never compromised your clients (seller) sale price by giving information to the buyer (customer) that you shouldn't have (ie: the lowest price the seller is willing to take or information that may seem to put the sellers at disadvantage like they are divoricing and MUST SELL now or something along those lines).
It seems you really do not understand how real estate transactions truly work and you are giving misinformation which stands to hurt potential buyers with misperceptions.
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