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Started By
Message
re: This Realtor advises other buyer agents to raise the sales price to get their commission
Posted on 8/11/24 at 11:16 am to JohnnyKilroy
Posted on 8/11/24 at 11:16 am to JohnnyKilroy
quote:Um…hate to break it to you, but he was the buyer and I was the company he was negotiating with to build 87 buildings there.
Your client did the negotiating bro. He's the one with the money, not you.
Not some middleman.
0
Posted on 8/11/24 at 11:23 am to TCO
quote:It’s called perspective Sonny. Yes I’ve been more places and done more things than most, which I use to illustrate experience earned. Least I have a chest to bump :)
Jesus you even sound like a douchebag realtor. I negotiate deals worldwide, including the Middle East. I’m not on here bumping my chest
Which FYI, don’t ever do business with our fisking government. Did 2 projects in Algeria for them the paperwork was a nightmare. Had to buy an industrial copier because they wanted 6 copies of the 192 page construction plans any time there was a change, and there’s always changes.
Old guy, realtor was a do something to stay busy till I retired.
Frankly didn’t realize it was that much work when I got into it. But that’s paying for golf till I croak, so it was worth something.
Posted on 8/11/24 at 11:34 am to Lsut81
quote:They can request it, if you’re dumb enough to pay it.
So sellers agents can still demand 6% to those willing to pay it and then cheap out and only offer 2% to the buyers agent, thus pocketing more?
Btw the sellers 6% was commonly split 3 and 3 between buyer and seller agency.
quote:Sorta, the sellers would still have to agree to that in the contract. All contracts are a little different depending on the base firm they use. My MLS how the commission is laid out would be in the “buyer pays” and “seller pays” subsection.
Or is it that the sellers agent negotiates a fee, lets say its 3% and then they tell their agent what % they are willing to pay a buyers agent? So maybe that is 1% for a total of 4% to from the seller?
quote:That’s how it was supposed to work before, but frequently didn’t. Sellers should ALWAYS negotiate their listing rate, but rarely did. I always gave previous clients a cut rate on listing a house they bought using me as their agent. Part of the reason they’re still calling me.
I guess short and sweet is the seller now negotiating with two agents instead of just theirs?
Seriously, an agent will turn down 2% over nothing? If a listing agent doesn’t like the price you want to pay to list it, get another.
Posted on 8/11/24 at 11:36 am to llfshoals
quote:
Mostly because I don’t need the money.
Lol. If you didn’t need the money, you wouldn’t be working as a realtor and pitching people online why they should overpay for your service that any retard can do.
Posted on 8/11/24 at 11:38 am to stout
Realtors crying on social media..... 
Posted on 8/11/24 at 11:40 am to TheOcean
quote:
We need a stout bingo card
Airbnbs
Realtors
Housing shortage
Housing prices
Posted on 8/11/24 at 11:57 am to blueboxer1119
quote:If you were reading which either you weren’t or your reading comprehension sucks I haven’t been pitching anyone overpay, that they should do their research and negotiate their rates. I like the job, get to meet people, learn things, get to talk a lot. Outsmarting the other realtors is just a bonus. Kinda missing that part since I’ve slowed down, but don’t miss showing 5-10 houses a day.
Lol. If you didn’t need the money, you wouldn’t be working as a realtor and pitching people online why they should overpay for your service that any retard can do.
I made a fair bit over the years. Just because I’m not poor doesn’t mean I need a Lamborghini. That’s a good way to get poor in a hurry.
Posted on 8/11/24 at 11:59 am to llfshoals
quote:
Seriously, an agent will turn down 2% over nothing? If a listing agent doesn’t like the price you want to pay to list it, get another.
Guess what I’m asking is are you negotiating with one or both agents?
Or is it “hey selling agent, I’m willing to pay 4% total, so you figure it out with the buying agent how that split works”?
Feels like if it’s the former, people will get screwed and things slowed down when sellers agent comes back and says “I have a buyer, they want 2% to bring their client to the table… after a seller thought what they agreed to was all inclusive.
This post was edited on 8/11/24 at 12:06 pm
Posted on 8/11/24 at 12:00 pm to Dragula
quote:If you think that’s bad, impersonate a realtor at a realtor open house.
Realtors crying on social media.....
That's where the real bitching is done. Some of them make great pastries though, so I can ignore a lot of that for the sweets.
Posted on 8/11/24 at 12:08 pm to Lsut81
quote:you can, and should negotiate both.
Guess what I’m asking is are you netting with one or both agents?
Always remember unless they have a different agreement than every other one I’ve seen realtors get paid nothing unless it closes.
quote:it’s always going to be a balancing act. You can still negotiate anything.
Feels like if it’s the former, people will get screwed and things slowed down when sellers agent comes back and says “I have a buyer, they want 2% to bring their client to the table… after a seller thought what they agreed to was all inclusive.
Until it’s a signed contract, anything can change, and even that can change if the parties agree to amend it. Done that a bunch, but usually involves some repair items.
In the case of a listing agreement, if the agent opens the door to renegotiate it, you always have the option not to.
If you have a good agent though, listen to them. They’ll talk to you, not at you. There’s a difference.
Posted on 8/11/24 at 12:45 pm to llfshoals
This seems too complicated. My last sell I listed on zillow and offered buyers agents 2% in my description. The one offer I got and accepted was fine with it. He showed my house to them and an hour later texted me with the offer. One back and forth and we were done. He took care of everything after that.
Would just do that again
Would just do that again
Posted on 8/11/24 at 12:53 pm to kywildcatfanone
quote:
This seems too complicated. My last sell I listed on zillow and offered buyers agents 2% in my description. The one offer I got and accepted was fine with it. He showed my house to them and an hour later texted me with the offer. One back and forth and we were done. He took care of everything after that.
all depends on the market.... that ain't the case right now... interest rates have a lot of buyers on the sidelines, so things are sitting, not selling quite as fast, so it's all market dependent...
quote:
Would just do that again
you could... but you could end up like some of the houses here in BR that have been sitting for 4-5 months now....
Posted on 8/18/24 at 8:02 pm to llfshoals
quote:
If you ask me dual agency should be illegal, I am one of the few realtors I’ve ever met who won’t do it. If you’re representing in negotiations both parties that’s a clear conflict of interest.
Under the new rules wouldn't the selling agent have to show you what they would charge since they would be acting as the buyers agent in this situation? Be interesting to see if they will still ask for 6%.
Posted on 8/18/24 at 8:12 pm to Kingpenm3
It sure seems like the new rules were meant for buyers' agents to be compensated directly from buyers. But everything I have seen looks like buyers' agents are still expecting to get paid through the sellers.
Posted on 8/19/24 at 11:20 am to shutterspeed
Stout,
I believe you to be a very astute person when it comes to real estate which might color your thoughts more than you realize.
I believed this too which is why after paying a ton out in commissions on some flips I got my license so I could at least save the seller side of the commission and maybe the buy side on half of it if I buy something listed.
I have acted as a buyers agent for a few friends or people interested in my flips that didn't have an agent and were moving in from out of town. What I have noticed from the admittedly small sample size is that people really need help to understand the contracts and to be objective when negotiating the best deal. I suppose I look at it differently because I try to help people get at least as good a deal as I would try to get myself on a house.
I think the problem with seller agents for the buyer is the lack of fiduciary responsibility. The Sellers agent has not reason to act in your interests and won't and for many buyers that only purchase a few homes in their lifetime the contract can be overwhelming. I'm not sure 2% - 3% is the number and I don't know what the future holds.
I believe you to be a very astute person when it comes to real estate which might color your thoughts more than you realize.
I believed this too which is why after paying a ton out in commissions on some flips I got my license so I could at least save the seller side of the commission and maybe the buy side on half of it if I buy something listed.
I have acted as a buyers agent for a few friends or people interested in my flips that didn't have an agent and were moving in from out of town. What I have noticed from the admittedly small sample size is that people really need help to understand the contracts and to be objective when negotiating the best deal. I suppose I look at it differently because I try to help people get at least as good a deal as I would try to get myself on a house.
I think the problem with seller agents for the buyer is the lack of fiduciary responsibility. The Sellers agent has not reason to act in your interests and won't and for many buyers that only purchase a few homes in their lifetime the contract can be overwhelming. I'm not sure 2% - 3% is the number and I don't know what the future holds.
Posted on 8/19/24 at 12:00 pm to SmelvinRat
quote:
Buyers "can't do the deal on their own" - oh, good lord...
I've done it before and I will do it again. Cousins wife is a realtor and her little pea brain almost exploded when I told her that her so called profession adds no value for most transactions.
Posted on 8/19/24 at 12:08 pm to stout
This situation sort of sucks for Realtors simply because there is a lack of clarity. But it doesn’t have to be this way. Buyers agents really perform quite a different service than selling agents. They probably always should have been an hourly rate (and in some cases flat fee).
This guy in the video is a whiny bitch though, and is contributing to the problem.
This guy in the video is a whiny bitch though, and is contributing to the problem.
Posted on 8/19/24 at 12:15 pm to OceanMan
quote:
This situation sort of sucks for Realtors simply because there is a lack of clarity. But it doesn’t have to be this way. Buyers agents really perform quite a different service than selling agents. They probably always should have been an hourly rate (and in some cases flat fee).
my agent is a friend and pretty good. I am not really complaining about her work but she didn't do much until closing.
Now, she helps us a good bit with finding contractors and talked my wife out of some renovation work so she made up for it.
Posted on 8/19/24 at 12:22 pm to stout
A realtor did something sketchy like this to us 3-4 years ago. The price hiked $15k at the last minute, likely to take advantage of out of state buyers. From what I understand, the listing agent upset a lot of people around here by doing things like that during the pandemic.
We are looking at rentals now and are going to buy as many as we can over the next 15 years. I know things are different now and she’s struggling for listings. She’s heard we are looking and put in a few offers in the past 6 months. She even called a few times to show me a house but we just ghost her. Can’t believe she thinks that bridge isn’t burnt to a crisp.
We are looking at rentals now and are going to buy as many as we can over the next 15 years. I know things are different now and she’s struggling for listings. She’s heard we are looking and put in a few offers in the past 6 months. She even called a few times to show me a house but we just ghost her. Can’t believe she thinks that bridge isn’t burnt to a crisp.
This post was edited on 8/19/24 at 12:24 pm
Posted on 8/19/24 at 12:38 pm to Psych23
quote:
I don't know realtors exist other than to show my house to people if I'm trying to sell it because I don't have time for that shite.
Oddly enough we found someone that manages rentals for a living. Best “realtor” we’ve found. She’s goes to see houses with us and has probably saved us from doing something stupid several times.
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