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re: Buyer paying the Buyer Agent a fee
Posted on 10/10/16 at 11:13 am to LSUFanHouston
Posted on 10/10/16 at 11:13 am to LSUFanHouston
quote:
To me, a better system would be... each side pays their agent whatever they negotiate. Sellers pay 3% to their person, Buyers pay 3% to their person. No conflict of interest, and either side is free to negotiate different terms (or not have representation at all). Prices would adjust, of course, to this new world.
As a buyer I'd rather finance my agents fee into the purchase price, especially at 3.5% interest over 30 years. Closing costs and 20% down is enough cash out of pocket in my book.
1
Posted on 10/10/16 at 11:17 am to ItNeverRains
quote:
As a buyer I'd rather finance my agents fee into the purchase price, especially at 3.5% interest over 30 years. Closing costs and 20% down is enough cash out of pocket in my book.
I don't see why you would not still be able to do that. It would take a change in lending practices, but it's not something that is impossible to do.
In the end, the buyer is getting the same amount of money, everyone knows that the commissions get paid out of closing proceeds anyway, one way or the other. So the net numbers don't change. The appraisal value doesn't change.
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