Buying SFH - Commision
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Buying SFH - Commision (by James [GA]) Oct 31, 2013 12:29 PM
       Buying SFH - Commision (by Frank [NJ]) Oct 31, 2013 12:47 PM
       Buying SFH - Commision (by LL [WI]) Oct 31, 2013 12:57 PM
       Buying SFH - Commision (by James [GA]) Oct 31, 2013 12:57 PM
       Buying SFH - Commision (by Mike45 [NV]) Oct 31, 2013 1:10 PM
       Buying SFH - Commision (by BillS [CO]) Oct 31, 2013 1:49 PM
       Buying SFH - Commision (by Cal [NY]) Nov 2, 2013 4:56 PM


Buying SFH - Commision (by James [GA]) Posted on: Oct 31, 2013 12:29 PM
Message:

I'm attempting to purchase a property and have been working directly with the listing agent. It's been a few years since I bought a property this way using my own (non REALTOR) purchase and sale contract. (contains nothing exceptional) The listing agent I've submitted mine to has pretty much refused to accept this as he says his broker will not approve it.

He is currently thinking he is going to play limited dual and take both sides of the commission. The offer is using the builtin saving of the 3% buyer commission.

He indicated the broker maybe open to some seller contract changes to change the commission / split at a later date.

I'm not going to plagiarize the realtor Purchase and sale contact for the state.

Last we spoke I told him if it's that important to use the REALTOR form, write the counter on the realtor purchase and sale and we'll go from there. We are talking 5 digits here. I view the likelyhood of the sale to complete without the buyer agent commission elimination as small.

What say you ? --88.217.xxx.xxx




Buying SFH - Commision (by Frank [NJ]) Posted on: Oct 31, 2013 12:47 PM
Message:

Nice try. They do not have to.

My broker would not accept a contract from you either.

The agent[s] may have to submit your offer to the Seller, and will try their best to [subtly] kill your deal.

--70.192.xx.xx




Buying SFH - Commision (by LL [WI]) Posted on: Oct 31, 2013 12:57 PM
Message:

Just reduce the amount you will pay by the 3 percent.

Let the listing broker/agent have their full commission.

Commission agreements are between the seller and the broker/agent. Any time you mess with their money, they get hacked off and may well kill your deal.

Just reduce the offer so it comes out where the total to you is what you are willing to pay.

--69.35.xxx.xxx




Buying SFH - Commision (by James [GA]) Posted on: Oct 31, 2013 12:57 PM
Message:

I should note it's legally acceptable to represent yourself in a real estate transaction in the state. --88.217.xxx.xxx




Buying SFH - Commision (by Mike45 [NV]) Posted on: Oct 31, 2013 1:10 PM
Message:

I would document that fact that the listing agent has refused to present your offer, and I would then present the offer directly to the seller with a cover letter saying that his listing agent has refused to present your offer. I would also contact the state's Real Estate Board to see if the refusal of the agent to present the offer is legal.

--184.6.xxx.xxx




Buying SFH - Commision (by BillS [CO]) Posted on: Oct 31, 2013 1:49 PM
Message:

Hey it's real estate. Everything is negotiable.

Have him tell the managing broker that something needs to be worked out or they can get on the phone with you and the state RE commission to see what can be worked out to get the deal done.

Brokers hate for the state to even know they exist much less talk to them. That will straighten them out. --75.160.xxx.xxx




Buying SFH - Commision (by Cal [NY]) Posted on: Nov 2, 2013 4:56 PM
Message:

If you don't want to use the RE Agent then don't. I don't understand why you are going through them and then telling them that you don't want them to get paid.

First of all ... you don't even know what the commission is between the office and the owner. It could be more it could be less. So you stipulating that the agent only gets 3% isn't up to you.

If you want that then go into a Buyer Agency with your agent. Then you can negotiate the commission with them as they may not get paid by the seller.

In addition, the whole thing about the contract is amazing to me. The MLS pays their attorneys to write these up. RE Agents are not lawyers and they need to ensure that what is written is good. Most of the forms are the same and yes, everything is negotiable. But what is your point in having the agent use your form instead of theirs?

I think you need to get over that point and either move on or don't use an agent. With that said - the agent (regardless of the fact if the Seller finds the buyer ie you) THEY STILL ARE IN A CONTRACT WITH THE OFFICE AND WILL PAY THEM THE COMMISSION REGARDLESS. --74.78.xxx.xxx





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