WatchIn my time mostly lurking this forum, I've seen it suggested a number of times (most recently by Pocky) that using the seller's agent has the potential to make them work a bit more for the buyer than for the seller. I'm curious if anyone has personal experience doing this, and can offer Anecdotal Evidence as to the efficacy of this technique.
Personally, I'm most interested in estimated percentage savings, but any other observations and insights would be appreciated as well.
Follow
Befriend (13)
102 threads
3,759 comments
Middle men don't work for free, the less of them the better. I forgot which founding father said it, but "Don't pay another man to do what you can do for yourself".
Follow
Befriend (25)
413 threads
6,976 comments
Saint George, UT
elliemae's website
IMHO, he just wants to sell the house. He doesn't care what you want, and he certainly isn't working for you considering the seller is paying his commission.
the only way you should use the seller's agent is if he discounts the commission.
Follow
Befriend (1)
7 threads
101 comments
Valencia, CA
Yes, since all realtwhores just want your money (hey, we all want money, but I'm not going to lie about "working for you") you can ask him to drop his commission to 4% total, and have him tell the seller to drop the price of the house 1%. You will be saving 3% total off the house, and the realtard actually makes more money (be sure and show them a worksheet, as every realturd I've ever met is terrible at math) Seller makes the same amount. Realtwhore makes a little extra. You keep thousands of dollars in your pocket!
Follow
Befriend (54)
5,181 threads
6,152 comments
46 male
Menlo Park, CA
Premium
Jeremy says
Actually, the seller may get LESS and you may save all of that difference.
A friend in San Francisco who did this told me the seller's agent was so motivated to take his offer and get double commission, that he blocked and/or dissed higher offers, telling the seller to take his lower offer instead.
So the seller got something like $900K instead of $1M.
But the agent got 6% of $900K = $54K by turning against the seller.
If he had represented his seller correctly, he would have gotten only 3% of $1M = $30K
Just shows how sleazy realtors are. They will suck whatever you pay them to suck.
Follow
Befriend (1)
7 threads
101 comments
Valencia, CA
Patrick says
Yes Patrick, that's right! It will actually increase their motivation! Although I will say, this is where the sleaziness of realtwhores comes in. I got blocked from a great house that I was actually living in (renting) I offered 425k, but I had my own realtard. The house ended up selling for 425 exactly to someone else (the reatwhore ignored my offer and double dipped the commission) and I had to move. Sucked! I was so pissed!
Follow
Befriend
1 comments
I used my own agent and the guy kept trying to rip me off at every turn. He tried to get me to buy a new house and I signed a contract then I realized that I didn't factor in the property taxes, so I backed out because I couldn't afford it. He then called me and tried to get me to go back in. I refused.
I don't know why I didn't drop the guy, but when I bargained for a used house, he always tried to get me to go higher. I refused and eventually got a house in my price range.
Using your own agent doesn't mean you will save money!
Follow
Befriend (4)
20 threads
107 comments
San Francisco, CA
Malkovich's website
I've been tracking a number of multi sales this year in Oakland. Many of the ones I've been interested in (cream of the crop), perhaps even as many as half, had the same realtor or broker listed as selling and buying.
It's a con game. Until the business model of Realtards is changed you have no choice but to play the game.