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I just bought a condo without using a buying agent. I did all my research. I used Redfin as a base for information, went to police station by, asked future neighbors and friends that live in the area. Then I ran the number using various online excel tables and of course Patrick's Real Estate Tools. Compare similar rents in the area and bingo I am saving $825 per month. Although it took me more than a year to find the right property that served my needs.

1sfrenter says

When a house I want comes up, offer dual agency and hire my own RE lawyer and inspector.

I think you should specifically spit it out so everyone understand, you mean ..... then listing (dual) agent give me kick back of 50% of the commission (usually 3%).

I was looking to buy and one buyer Realtor offer me a % kick back of the commission she would receive after the close, whether the listing was hers or not.

Why would you ask for a part of the commission? Its stupid it will scuttle the deal and if you get the house it will be top dollar price. Of course if its allready way over market price the agent might give you some of his commssion just to unload it. SO it means any agent offering to cut you part of the commision means that house is overpriced. The 'good deals' and good properties sell fast and they can wait for a agreeable buyer (by this I mean they double dip and you are easy to work with).

Remember they are vampires and the listing agent has the loan owner hypnotized. If its a bank/short sale the relationship is even more slanted toward listing agent have all the power control.

In fact according to the law the loan owner doesnt own the listing of his own home - the Listing agent does. Loan owner cant even change agents for 6 months normally in CA (standard CAR listing form has 6 month expiration of lstings. Of course I crossed this off when I listed a home with an agent before I got a clue and got my own license).

My (buyer's) agent is not really adding anything to my search right now. I might need his help when it comes to making an offer and escrow, though.

With everything online now, seems like what I want to buy might be better found if I can find it before it ever gets listed.

If a listing agent knows they will get the entire 6%, might they pick up the phone and call me first and try to get the house sold to me before a slew of buyers and their agents jump on it?

If the seller and the listing agent are hoping for multiple offers and a bidding war, then this wouldn't work.

PockyClipsNow says

Why would you ask for a part of the commission?

Exactly. Just let em take that damn 6%,who cares how they want to split. Just reduce your offer by 6%.

PockyClipsNow says

Why would you ask for a part of the commission?

I am thinking about the same question as OP (thanks for posting thread). I understand that if the seller has an agent they will have to get their 3%. Seller's choice. But if I don't want an agent, I would like to ensure that the 3% normally going to buyer's agent instead goes directly to the seller. I don't need any complicated kick-back scheme. I just want it to go directly to the seller, anticipating that he or she will consider my bid ~3% more valuable than same bid by someone else with a buyer's agent.

Possible?

drtor says

But if I don't want an agent, I would like to ensure that the 3% normally going to buyer's agent instead goes directly to the seller. I don't need any complicated kick-back scheme.

I see an advantage to NOT getting a kick back (although in a slow market you could ask):

you get first dibs on all good listings if the listing agent knows they will personally make commission by selling to you.

In a tight market with low inventory, as it is where we are, this is major. Anything decent gets pounced on within a week.

drtor says

I would like to ensure that the 3% normally going to buyer's agent instead goes directly to the seller. I don't need any complicated kick-back scheme.

NO!
This NEVER happens. Contractually in the listing contract which is legally binding in a court of law the listing agents gets the whole 6% if there is no selling agent. The loan owner CANNOT get this money. Its possible in rare cases the owner is smart and crossed out or changed the contract so that in this case the 'loan owner' gets the selling side commission but its rare (i did this, but I have a clue).

I know clueless buyers who have wanted to do this before. I used to think this would work. It wont and cant. You wont even be allowed to communicate with the seller. You tell the listing agent you want the seller to have half his commission and see how fast he stops calling you. (this is legal since he can say you 'are not a serious buyer' and he is actually correct! lol)

ALSO according to CA law (IIRC) just because you 'dont want an agent' the listing agent is legally representing you anyway. Its like you as a buyer are considered a minor with no rights. There have been many many abuses over the centuries and CA law hold agents liable for fair dealing. Lots of laws are like this the most annoying is that binding financial advisors which is why you see posts 'this is not legal/financial/investing advice'.

Your actions such as merely walking into a home for sale start a series of legal events which you are unaware of. Learn them. Such as 'procuring agent gets commision' means u cant change agents. And a seller cannot cancel a listing contract before it expires (breach of contract) without paying the 6% to the listing agent (its in the CAR listing form, read them).

All this is not trivial. People get legally sucked in like this:
1. walk into open house to check it out with no agent next to you (you have just chosen the listing agent to represent you! unless your hand picked buyers agent found the home and is physically there with you - listing agent gets commission).
2. call on a listing you are driving by - agent shows u the home -your wife loves it. Guess what? you just chose the listing agent to represent you. the first agent to stand next to you while u view the house (whether you sign anything or not or are serious about buying or not doesnt matter) has procured that sale for the seller and the seller owes that party commssion if you close(buy) on that home.

*this is not legal or financial advice (hahaha! so annoying isnt it!)

PockyClipsNow says

NO!
This NEVER happens.

Thanks a lot for this information, very valuable. And annoying.

Another process that comes to mind is this. I have a friend who is realtor part time. Suppose re 1. and 2. that I declare upon entering house that I do have an agent who could not make it today . Then when I have looked around at houses at my own pace and am ready to make a move I call on friend to assist in final steps of transaction only. We split her fees some way on account of the fact that her realtor workload was very light. Possible?

Yes you can use your own buyers agent. Just tell the listing agent at open house - "I have an agent and they sent me here but cannot make it themselves- my agent is the procuring agent for this property and will write up the offer if I decide to buy".
Thats pretty clear and they will know 'you know how it works'.

This should establish procuring cause and the listing agent will also leave you alone and not try to adopt you as a buyer.

Of course I like the idea of dual agency to get super lowball price but I have not actually done this yet- havent bought a home since 2004.

http://homebuying.about.com/od/realestateagents/qt/Procuringcause.htm

PockyClipsNow says

Of course I like the idea of dual agency to get super lowball price but I have not actually done this yet- havent bought a home since 2004.
http://homebuying.about.com/od/realestateagents/qt/Procuringcause.htm

Thanks a lot PockyClipsNow. Obviously lowball price is part of it but honestly I just don't want an agent to follow me around. I like to just spontaneously stop by open houses at random places and take my time. And it wouldn't be fair to the agent either - I may do this for several years and then not decide to buy!

If you don't use a buyer's agent, the listing agent will just take all the commission. It won't save you a dime. That's how it works. I'm a former realtor.

Not having a Buyer's Agent in the rough and tumble business of real estate is like not needing a manager for the New York Yankees. When you have 9 great players getting a Billion dollars a year, why do you need a manager.
35 Years investing experience guarantees I know more than you, and many hours of negotiating training guarantees you will be at a disadvantage.

LASVEGASWINNER says

negotiating training

You mean,negotiating with the sellers agent to screw your client,so that you both can enjoy the big fat commission check. LOL.

In my experience, what you are missing is that when I tried this, I still couldn't get access to half the houses I saw listed online but wanted to see - the ones that didn't have open houses. Many of the listing agents would not return phonecalls, or when they did, they didn't take me seriously as a buyer without me having a buyer's agent. So, in short, the lock box access was a major part that I was missing without an agent.