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Buying a house: How to cut out the middle man?
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2011 Dec 2, 3:24am 1,741 views 2 comments
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Find a house you want on your own using Redfin or similar, go directly to the selling agent unrepresented and negotiate some of the commission come back to you at closing. You may not get the full 3%, but even if they get an extra 1% they might just "misplace" any other offers and make sure your offer gets considered.
PockyClipsNow
2011 Dec 2, 4:09am
woggs is wrong
this plan will work on a 'retail price' since there wont be other offers so thy listing agent might kick back some $. He is entitled CONTRACTUALLY to both commissions - he would only kick back if NO OTHER OFFERS were near or coming (bad deal?)
You want to tell the listing agent he can double dip the commish but YOU GOTTA GET A LOW PRICE. You might get 50k off the price and that is worth it to give the LA a few k in commish. ANyone asking for a commission kickback will have to pay top dollar, full listing price AND be the only bidder - if they are lucky. Mostly they will flush your offer and not return your calls. Its not rocket science people.
America is CCCP you gotta pay everyone who has a hand in the deal or there is no deal.
Before I start any type of search for homes, I want to know how to reduce the overhead cost. Seems like there is no way to avoid the fee paid to the Seller's agent, since the seller hired the agent. Beside FSBO, is there any way around it? On the buyer side, there are other options. Hire an agent hourly which would reduce the cost (at least they won't be getting 3%), hire Redfin agent (which gives me back 1.5%), or hire an attorney - pretty much the same as hiring an agent hourly. Any other way of doing a real estate transaction with less overhead cost?
#housing