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Started By
Message
re: Is 1.5-2% fair to offer realtor for 1 time showing?
Posted on 4/1/13 at 1:26 pm to Forgiving Morgan
Posted on 4/1/13 at 1:26 pm to Forgiving Morgan
quote:
3% buyers agent and 3% sellers agent commission.
but since there is no sellers agent wouldn't the seller flip the bill?
If the seller had his own agent would he be accountable for his agents commission as well as the buyer's agent's commission?
1
Posted on 4/1/13 at 1:27 pm to LSUTOM07
quote:
If the seller had his own agent would he be accountable for his agents commission as well as the buyer's agent's commission?
Yes, that is typically how real estate works when listing with an agent.
By listing FSBO he is forgoing a listing agents commission, typically 3%
This post was edited on 4/1/13 at 1:29 pm
Posted on 4/1/13 at 1:33 pm to ItNeverRains
I just can't see ever paying a buyer's agent's fees. It doesn't seem like good business to pay the guy that isn't looking out for your best interests.
Posted on 4/1/13 at 1:41 pm to LSUTOM07
quote:
I just can't see ever paying a buyer's agent's fees. It doesn't seem like good business to pay the guy that isn't looking out for your best interests.
they are bringing the buyer to the table. Kind of important when making a sale is having both a seller and a buyer. Looking out for interest is irrelevant.
Posted on 4/1/13 at 2:17 pm to LSUTOM07
quote:.
I just can't see ever paying a buyer's agent's fees. It doesn't seem like good business to pay the guy that isn't looking out for your best interests
You're paying the buyers agent to bring you a buyer. You can choose not to, but you will have fewer qualified buyers making offers which only hurts you.
This post was edited on 4/1/13 at 2:19 pm
Posted on 4/1/13 at 2:45 pm to TIGRLEE
Where you moving TL, finally getting a place on a golf course?
Posted on 4/1/13 at 3:26 pm to ItNeverRains
quote:
I'd consider 2% on 1M+ if needed to make sale and my clients happy. I'd run it by my managing broker first.
Posted on 4/1/13 at 4:27 pm to Tiger n Miami AU83
Why is that funny, it's a little less than full commission on a 660k house, the avg home sale in my area is 350-400k. And I'm potentially bringing a million dollars to a seller.
Posted on 4/1/13 at 6:37 pm to TIGRLEE
FINDING the buyer is where the value is. Why would an agent bring a buyer of theirs to see a home where they would make much less?
Do you have a property website for your home? That will help with exposure.
Do you have a property website for your home? That will help with exposure.
Posted on 4/1/13 at 8:17 pm to TIGRLEE
No.
Buyer has the contract with them.
Buyer has the contract with them.
Posted on 4/1/13 at 8:47 pm to dewster
A fsbo represents himself. I would never show a fsbo if the commission was less than 3%. From experience I can tell you that the buyer Broker ends up doing much more work if they are dealing with a seller and not another broker. You can't represent the best interest of both parties.
And this discussion has not even touched on the liability aspect which with most fsbo's is huge due to the lack of knowledge and main focus being saving a buck.
And this discussion has not even touched on the liability aspect which with most fsbo's is huge due to the lack of knowledge and main focus being saving a buck.
Posted on 4/1/13 at 9:20 pm to sstig
How does the buyers agent know the amount of commission being offered by the seller before it is shown?
And doesn't the buyer have to sign a contract with his agent agreeing to pay a specified amount of commission before the shopping process begins? Pardon my ignorance on the subject
And doesn't the buyer have to sign a contract with his agent agreeing to pay a specified amount of commission before the shopping process begins? Pardon my ignorance on the subject
Posted on 4/1/13 at 9:41 pm to LSUTOM07
quote:
And doesn't the buyer have to sign a contract with his agent agreeing to pay a specified amount of commission before the shopping process begins?
The buyer doesn't necessarily have to sign anything....at least up front. In my area it would not be the norm for a buyer to sign an agent agreement on the front end. Typically, all commissions are taken from the purchase money. In other words, if an offer of 100,000 is accepted and closed, 3,000 would go to sellers agent, 3,000 would go to buyers agent, and seller would recieve net 94,000 (not considering mortgage balances, closing costs, etc)
Technically, this is all negotiable, but I would guess in 90+% of situations, this is how it works.
Posted on 4/1/13 at 9:43 pm to LSUTOM07
The broker ask the fsbo what commission will be paid before showing and either gets a one time comission agreement or something in writing to detail what will be paid. Most buyer broker agreemets say that the seller will pay the agreed upon fee or the buyer will make up the difference.
The comission and stipulation of who pays and who represents who should be part of the final contract.
The comission and stipulation of who pays and who represents who should be part of the final contract.
Posted on 4/2/13 at 7:41 am to Forgiving Morgan
Before I show any buyer a property I have paperwork signed that I will receive a 3% commission for my labor, and I get my buyer preapproval.
If my buyers want a home from fsbo and they do not want to pay my fee, buyer is responsible.
I do a couple fsbo's a year, I have never had someone dispute my commission for bringing them several hundred thousand dollars.
On one hand I can count the number of times seller came out with more $ by not having representation, either from negotiation, sitting on market longer, potentially making two house payments, or combination of with other intricacies factored in
JM2C
If my buyers want a home from fsbo and they do not want to pay my fee, buyer is responsible.
I do a couple fsbo's a year, I have never had someone dispute my commission for bringing them several hundred thousand dollars.
On one hand I can count the number of times seller came out with more $ by not having representation, either from negotiation, sitting on market longer, potentially making two house payments, or combination of with other intricacies factored in
JM2C
Posted on 4/2/13 at 8:20 am to sstig
(no message)
This post was edited on 12/21/21 at 9:39 am
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