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Answers (9)
- Nicholas Ribeiro, "NicholasRibeiro"
- Contributions:1807
In my market this would not work because the selling agent has a contract with the seller to be paid 6%. The listing agent then compensates the buyers agent a fee (usually 3%). There is a separate agreement signed between both agents regarding commission. Id find it hard to believe an agent would agree to pay a non licensed person a Realtors commission. It would be like walking onto a union job and saying I want to do this portion myself so I want the piece of the contract for that.. Ever try and battle a union?????
- JoEllen Ufner - ABR,GRI,SFR, "jufner"
- Contributions:397
A home is the biggest purchase one will ever make in a lifetime.....would you go to court without an attorney? Maybe you would even if it were for dollar amounts equal to the purchase of a home...most people would want representation/guidance with the process to protect your money and time and advice which a buyers agent could give you...your choice either way best of luck
- Hamp Yonce, "Zilluminati"
- Contributions:3463
grokster
You should use the goofy little website. You'll never know if it saved you, or cost you any money, but you should still use it.
You should use the goofy little website. You'll never know if it saved you, or cost you any money, but you should still use it.
- Pasadenan
- Contributions:21453
"Would you operate on yourself?" -
The first use of a local anesthetic for surgery was a doctor that removed his own appendix, because he couldn't get any volunteers willing to be awake during the surgery.
It still is a foolish unrelated question, and one of the reasons NAR has such a poor reputation.
The first use of a local anesthetic for surgery was a doctor that removed his own appendix, because he couldn't get any volunteers willing to be awake during the surgery.
It still is a foolish unrelated question, and one of the reasons NAR has such a poor reputation.
- grokster
- Contributions:27
@JulieReddington
Having a person with a vested interest in getting the deal done arrange the inspection seems like a conflict of interest to me.
Aren't the Title and Survey are the responsibility of the Title Company.
An accurate CMA? - hahaha! Yeah I've had those done only to see a week later the house drop in price below that CMA. (A lot of the figures not on the Internet are not always accurate.)
Earnest money can be handled by earnest businesses.
Loan conditions can be handled by loan companies.
Sure, you provide a service, I wouldn't argue with that. But when you exclude people who wish to handle these things themselves, then you lack transparency and you will eventually be usurped by another business model.
Would you represent yourself in court without an Attorney? I could if I chose to.
Would you operate on yourself? No, but neither does a Doctor. Silly illogical arguments like this are just another sign that you guys are hiding something..
"Another factor is that a Buyer's Agent is totally free to you. A Seller has usually built the commission of what they would pay a Buyer agent into their costs, and may be reluctant to 'give this back' to you?" - I am paying for this in the form of higher purchase price - it's simple math.
"You are purchasing probably one of the biggest transactions of your life. Make sure you get the right advice and that you are protected." - That's exactly what I'm trying to do - protect myself from you!
Aren't the Title and Survey are the responsibility of the Title Company.
An accurate CMA? - hahaha! Yeah I've had those done only to see a week later the house drop in price below that CMA. (A lot of the figures not on the Internet are not always accurate.)
Earnest money can be handled by earnest businesses.
Loan conditions can be handled by loan companies.
Sure, you provide a service, I wouldn't argue with that. But when you exclude people who wish to handle these things themselves, then you lack transparency and you will eventually be usurped by another business model.
Would you represent yourself in court without an Attorney? I could if I chose to.
Would you operate on yourself? No, but neither does a Doctor. Silly illogical arguments like this are just another sign that you guys are hiding something..
"Another factor is that a Buyer's Agent is totally free to you. A Seller has usually built the commission of what they would pay a Buyer agent into their costs, and may be reluctant to 'give this back' to you?" - I am paying for this in the form of higher purchase price - it's simple math.
"You are purchasing probably one of the biggest transactions of your life. Make sure you get the right advice and that you are protected." - That's exactly what I'm trying to do - protect myself from you!
- Drew Ludlow, "DrewLudlow"
- Contributions:505
Yep... it would be up to the listing broker to decide if he wants to renegotiate his contract with his seller. Their contract would be of no use to you. You can not take 3% off the top just because you present it in a purchase contract. Which, by the way, in some states, the negotiation of a commission can not be contained within an offer to purchase.
Yeah... i wouldn't do it, but you never learn unless you find out the hard way.
Also, by the way... the contracts may be fairly standard, but the 30-45 days between contract and close are NEVER standard. That is when you would wish you had someone to help you.
Yeah... i wouldn't do it, but you never learn unless you find out the hard way.
Also, by the way... the contracts may be fairly standard, but the 30-45 days between contract and close are NEVER standard. That is when you would wish you had someone to help you.
- hpvanc
- Contributions:2570
They would need to have a licensed agent in every state, to rebate the commission, in the states where rebates are legal. You would also need to find a licensed agent that was affiliated with them to show you the properties for some kind of a fee arrangement, so that the listing agent could not claim procuring cause and demand to keep the entire commission.
- Pasadenan
- Contributions:21453
Well, considering they are not licensed Real Estate Brokers nor Real Estate agents in any state, and they are not legally liable for any information or forms they provide, and have only existed less than 2 years, and that all the information they provide on that site is already posted on this site, I would not want to use that site for any purpose.
There are many threads on this website about how to grab that 3% selling agent commission, with comments from all sides. There are good and bad ways about going about it. And sometimes it is just easier to take 3% off the top of the offer. Other times it is easier to ask for 4% in seller concession closing costs.
Or one could get their own license, but then one still needs a broker.
And then there was one "investor" that stated he had an "arrangement" with his agent, where he pays all costs upfront, and the agent reimburses him the commission after the fact as overpaid fees.
The problem with a listing agent showing you a home directly is "implied agency", and their existing contract with the seller for the compensation both for the selling agent, as well as often for "duel agency".
Of course, if one really wants to avoid Realtor fees, one could search the FSBO listings only.
There are many threads on this website about how to grab that 3% selling agent commission, with comments from all sides. There are good and bad ways about going about it. And sometimes it is just easier to take 3% off the top of the offer. Other times it is easier to ask for 4% in seller concession closing costs.
Or one could get their own license, but then one still needs a broker.
And then there was one "investor" that stated he had an "arrangement" with his agent, where he pays all costs upfront, and the agent reimburses him the commission after the fact as overpaid fees.
The problem with a listing agent showing you a home directly is "implied agency", and their existing contract with the seller for the compensation both for the selling agent, as well as often for "duel agency".
Of course, if one really wants to avoid Realtor fees, one could search the FSBO listings only.
- Julie Reddington, "JulieReddington"
- Contributions:46
It would all depend on whether the Listing Agent would be happy to do that. They have an interest to get you to the closing table; They can step into the role as a Transaction Broker, but may want a fee to still do your side of the deal. If they didn't they would treat you as the customer. You would not be getting any representation. As long as you are comfortable with arranging inspections, reviewing Title work, arranging survey's, checking all the deadlines, getting an accurate CMA (comparable market analysis - a lot of figures on the internet are not always accurate.), handling of the earnest money, loan conditions and deadlines.
Would you represent yourself in court without an Attorney? Would you operate on yourself?
Another factor is that a Buyer's Agent is totally free to you. A Seller has usually built the commission of what they would pay a Buyer agent into their costs, and may be reluctant to 'give this back' to you?
You are purchasing probably one of the biggest transactions of your life. Make sure you get the right advice and that you are protected.
Julie
720 226 4168
Would you represent yourself in court without an Attorney? Would you operate on yourself?
Another factor is that a Buyer's Agent is totally free to you. A Seller has usually built the commission of what they would pay a Buyer agent into their costs, and may be reluctant to 'give this back' to you?
You are purchasing probably one of the biggest transactions of your life. Make sure you get the right advice and that you are protected.
Julie
720 226 4168
Has anyone used mysixpercent.com to buy a house without a buyer's agent?
After seeing many houses, and getting alerts about recent sales from zillow, I feel I have a good idea of the value and what I would offer.
I understand these offer/purchase contracts are fairly standard.
I feel confident I could do this with the help of zillow, and now, perhaps mysixpercent.com (they have wording on their contract to grab that 3% that would usually go to the buyer's agent;)
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