Profile picture for vish3

Realtors giving cash back

I want a Realtor who can assist me in my home buying needs. I am looking for a specific area (specific part of columbia, clarksville, ellicott city area) and I do all the research myself. There is not really a whole lot of homes that come on the market in the area that I am looking and in the price range that I would like to get. Most of the homes that do come in the market gets seen by me in open houses.
Unfortunately some of the selling Realtors only give the buyers agent the commission. If I don't use the buyers agent they eat the commission themselves.

So my primary goal for a Realtor is writing a contract and occasionally showing homes.

So what kind of a cash back I would get in that scenario. I know that redfin gives me 1/2 of the buyers commission (my price range is 580k to 680k) and they also show a lot of homes. 

There are others who take 1% and give the rest to me.

I want to know if there are realtors out there in this board who goes to that level or beyond considering my situation.

Thanks
 
  • February 13 2012 - Clarksville
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Answers (15)

Profile picture for psihiart
 To VISH3 : Please , don't listen to agents. They just sick of hearing about rebates. The best way to do it is to find independent agent who will give you rebate from their comissions. I just signed contract with realtor for flat fee of 2500 for submitting offers and showing houses in some cases.and even some more services I did not asked for. With your price range it's gonna  pay for closing and some.  In this case seller doesn't have to know about your agreement, In many cases 5% comission is already in contract with selling agency, so it's the only way to get  your money.  And it's "your" money, since seller paying it from money he got from you. 
  • March 05 2013
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Year old post - but Ill throw in my two cents.

As an independent broker, I give rebates - but only to my in-laws....

If you DO want to ask for a rebate, I would deal with an independent BROKER and not an agent who works at a large firm - who usually has already has their commission split there anyway.

Independent brokers MAY want to wortk with you on this but I would definietly agree in writing to what BOTH parties are willing to do and not do.

If you as the buyer are willing to do a lot of the leg work, a rebate on the commission may be warranted.. . . ..
  • March 05 2013
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Redfin doesn't give you half back in Ellicott City, more like 1/3rd.
  • March 05 2013
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This is an illegal practice and nothing more.Ask your lender what they think of you receiving money from a buyer agent outside of settlement that does not appear on the HUD-1.
  • March 05 2013
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you can search for a real estate agent that would give you back a commission rebate as much as 50% on www.hmmmm.com
  • February 15 2013
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Profile picture for sunnyview
Some good real estate agents do provide commission rebates or a reduced commission. Paying a high commission is not a guarantee of top service so it is wise to negotiate.
  • February 08 2013
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Good real estate agent can save you money & time.
  • February 07 2013
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Looks to me like Piero is the only on to take you seriously; and if I were buyying thats what I'd want; an agent that takes me seriously rather than defelcting my question with a self-centered defense.

  • February 18 2012
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Get the real estate license and you will get all the buyer's agent commision fee for yourself
  • February 18 2012
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So what do you do if there is no open house?  Better yet, do you offer rebates on the services you provide to your emplyer?  After all, I'm sure they could do some of the work you do themselves, right?  How about your co-workers?  Do you pay them extra to shoulder the load of your work too whenever you are out sick or on vacation? Do you refuse to tip at a restaurant because you could, technically, get up and get the food yourself?

There is a whole lot more to a real estate transaction than just filling in blanks in a contract and unlocking a door for someone.   
  • February 16 2012
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My first question would be, is your goal to save commission money or to find a great house at a great price.  They are not the same thing, and what you focus on is what you get.  The commission is usually paid by the seller, so if you get the right house at a price that you are happy with, that would spell success, regardless of what the commission is.

That said, there are many ways an agent can find you a house that is not on the market.  We have had success finding homes that are not, and have not been on the market, but with willing and motivated sellers. 

If you would like to hear how we do that, just let me know, and have a great day!
  • February 16 2012
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Profile picture for Caveat Emptor
a properly endorsed attorney can collect the commission, bill you for the hour's worth of work and gives out free bottled water. he would then be required by law to return the portion that remains after his fees are paid 0.o

~.3% ^_)^

BTW, how do you like clarksville? Thinking of moving out there(Baltimore area), don't really know what to expect.
  • February 14 2012
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Profile picture for JamesKuang
Giving you a rebate on our commission compromises our profession.  I don't believe in that and would not work with a client who wants a piece of the agency representation fee regardless of how knowledgeable the client believe they are.

I wouldn't ask my auto mechanic to give me a discount just because I know how to change the oil myself.

If they feel like you are entitled to some commission, I recommend them to get a real estate license of their own.  The commission is entitled to the agent and for them to offer you a portion of their earnings is a sign of how desperate they are for a client.  
  • February 14 2012
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Vish, give me a call or send me an email. I'd be happy to talk to you about a commission rebate arrangement.

Piero
  • February 13 2012
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Profile picture for craigfial
25% rebate would be reasonable. The agent actually does a lot more work than you think and can save you thousands.
  • February 13 2012
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