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How to get maximum buyer commission share.

By bubblesitter   Follow   Fri, 27 Aug 2010, 3:06pm   1,161 views   9 comments
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I know typical commission paid by seller to buyers Agent is 3% and considering agent gives the buyer 50% back, so that comes to 1.5% of the sale price. Is this a cap or I can negotiate this to be more when I hire my agent? Can this be maximized by hiring listing agent as the buyers agent? Any feedback will be highly appreciated?

Note: I am not buying yet. Just doing my homework before I enter into buying process.

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1. vain Follow Befriend (2) 68 threads 876 comments

   1   3:17pm Fri 27 Aug 2010   Share   Quote   Permalink   Like   Dislike   dadab, the agent can give you back anything they wish. But are they willing? That's the question. Remember that the 1.5% they get, a portion will go to their broker as well. I've seen many listings offering 2.5% to the buyer agent only. About hiring the listing agent to be the buyer agent; that's tricky. I've generally seen agents double dipping simply because they are money hungry. Many listing agents actually refer you to their colleague (maybe for formality) if you approach them offering a double dip opportunity. It really depends on the agent. But I recommend using your own buyer agent if you want commission back. Buyer agents are generally struggling because buyers are all on the sidelines and are frustrated at the market. They'd rather earn less than nothing. Get the listing agent to be your buyer agent if you want some strings pulled for you with bank owned/short sales. If you choose to do this, remember nobody is on your side. Read everything you sign, and do your homework.

2. bubblesitter Follow Befriend (5) 10 threads 2,329 comments

   2   4:00pm Fri 27 Aug 2010   Share   Quote   Permalink   Like (1)   Dislike   Vain says If you choose to do this, remember nobody is on your side. Read everything you sign, and do your homework. If i have my own inspection and financing what else can be risky?

3. ¥ Follow Befriend 35 threads 5,700 comments Bellingham, WA

   3   4:13pm Fri 27 Aug 2010   Share   Quote   Permalink   Like   Dislike   ^ liens, CC&Rs dropped on you at the closing table, dunno what else. I slag on realtors but if I was buying in a new area (like say rural Colorado) I'd pay the 3% for the advice. Of course, good lots have fallen to under $100,000 there so that's not much of a fee to pay.

4. elliemae Follow Befriend (25) 413 threads 6,979 comments Saint George, UT elliemae's website

   4   4:54pm Fri 27 Aug 2010   Share   Quote   Permalink   Like   Dislike   The title company runs a check on the home, both initially and right before the closing. Liens and CC&R's are disclosed at that time. You can approach a seller fsbo, make your offer subject to whatever you'd like to try (in this market, if you're reasonable you're IN!) such as subject to passing inspections - including termite - and subject to an appraisal supporting the sales price. If you believe that you need something beyond that, pay for a re lawyer. Realtors aren't worth anything at all, which is why so many are out of work. if you're offering on a house that's listed, you probably can negotiate the commission way down. They're losing their asses on short sales and foreclosures. You can also make an offer on a house that's listed and go around the realtor, if there's a problem it's the other party's problem and not yours. As I've mentioned many times, when I sold fsbo, had accepted the offer and the deposit was at the title company in escrow, the buyer's realtor for their home called me to negotiate a commission. I told him to go fuck himself, seeing as how I'd never met him and he had nothing to do with the transaction. The buyer was stupid enough to sign some type of contract and paid him outside of the sale. But he was a pain until I threatened to file a restraining order. He's now bankrupt and looking for work, hasn't sold anything for 3-4 years. But he still introduces himself as a realtor (or so I'm told).

5. elliemae Follow Befriend (25) 413 threads 6,979 comments Saint George, UT elliemae's website

   5   4:55pm Fri 27 Aug 2010   Share   Quote   Permalink   Like   Dislike   Troy says ^ liens, CC&Rs dropped on you at the closing table, dunno what else. I slag on realtors but if I was buying in a new area (like say rural Colorado) I’d pay the 3% for the advice. Of course, good lots have fallen to under $100,000 there so that’s not much of a fee to pay. btw, if this happens with a realtor or without, it's resolved. Realtors are useless.

6. vain Follow Befriend (2) 68 threads 876 comments

   6   4:59pm Fri 27 Aug 2010   Share   Quote   Permalink   Like   Dislike   dadab says Vain says If you choose to do this, remember nobody is on your side. Read everything you sign, and do your homework. If i have my own inspection and financing what else can be risky? Ideally everything will be okay. Just be alert just in case. It doesn't mean you shouldn't be alert though if you have a buyer agent.

7. bubblesitter Follow Befriend (5) 10 threads 2,329 comments

   7   9:23pm Fri 27 Aug 2010   Share   Quote   Permalink   Like   Dislike   Thanks guys! I started this thread to gather ideas of maximizing buyers rebate. That's all. I conclude that I should somehow invite 20+ realtors(r) at my place and ask all of them 1 question. What rebate each of you have to offer me for my transaction?

8. Cautious1 Follow Befriend 9 threads 94 comments

   8   9:29pm Fri 27 Aug 2010   Share   Quote   Permalink   Like   Dislike   dadab says I conclude that I should somehow invite 20+ realtors(r) at my place and ask all of them 1 question. First clear the room of anything that can used as a weapon.

9. bubblesitter Follow Befriend (5) 10 threads 2,329 comments

   9   10:36pm Fri 27 Aug 2010   Share   Quote   Permalink   Like (1)   Dislike   Cautious1 says dadab says I conclude that I should somehow invite 20+ realtors(r) at my place and ask all of them 1 question. First clear the room of anything that can used as a weapon. Good idea. Hehe.