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Answers (20)
Best Answer
- HomeSand.net, "White Picture"
- Contributions:4398
My agent shows to me more than 100 houses in 2 months before I put the offer on one, he bought for me 8 lunchs and 4 dinners, he show up on the inspection day to ensure everything are going right, not to mention he advertised my rental properties for free, all those are not prevent him from gave to me .5% of the purchase price and smiles every time he saw my family.
- Tonya Brobeck, "Tonya Brobeck"
- Contributions:637
That's a great story. It never hurts to ask, I just would discourage making a decision regarding which agent one uses based on commission. There have been many times I'm sure we can all tell you about that we gifted clients some of our commission at closing, & spent $ on our clients during the job.
- Jeff Konstant, "jkonstant"
- Contributions:1970
Money/commission received is seldom a true indicator of an agents worth. Sometimes we are terribly underpaid and sometimes grossly overpaid. It is what it is and without more of an understanding of this particular situation(see white pictures "best answer") we cannot know.
We have all worked weeks and months on end with zero dollars for our efforts, but we have also been the lucky beneficiaries of the quick and pain free windfall.
We have all worked weeks and months on end with zero dollars for our efforts, but we have also been the lucky beneficiaries of the quick and pain free windfall.
- firesnow
- Contributions:9
Our buying agent only show houses with us 3 times and we found the
house we bought online. It turns out that we paid the final asking price
$7000 more than the selling agent agreed upon (fighting with other bidder). I was just little bit disappointed about the whole thing. I am not
going to ask for a discount but i was curious how people response to this
question.
- Mack McCoy
- Contributions:1117
Curiously, there are very very very very few postings on here that ask something to the effect of, "My agent did a super job and I'm wondering if it is appropriate to tip him, and if so, what a good tip would be. My husband thinks 15% of the commission, but I'm so happy with the house that I'd like to give him 20%."
- carmen25
- Contributions:128
:)
Well not a million phone calls, but close.
My point was, if you're happy with the house and got a good deal, asking the agent for a small % of their commission will just make you look bad and not really worth it.
Hamp, no I didn't get a reduced commission arrangment.
Also, I want to thank EVERYONE here on zillow that replied to my posts. You were VERY helpful, more than you'll ever know!
Regarding the lockbox code, my situation was a little different. I had to do major repairs to the house, which took 2 months, before I close escrow, so I needed that access. Plus my agent is about 1 and a half hours away from the property.
Well not a million phone calls, but close.
My point was, if you're happy with the house and got a good deal, asking the agent for a small % of their commission will just make you look bad and not really worth it.
Hamp, no I didn't get a reduced commission arrangment.
Also, I want to thank EVERYONE here on zillow that replied to my posts. You were VERY helpful, more than you'll ever know!
Regarding the lockbox code, my situation was a little different. I had to do major repairs to the house, which took 2 months, before I close escrow, so I needed that access. Plus my agent is about 1 and a half hours away from the property.
- Tonya Brobeck, "Tonya Brobeck"
- Contributions:637
Okay Carmen25 point is you know what your doing, your a real estate agent. Maybe from another state, none the less, educated and know how to navigate. Your typical home buyer or seller doesn't know what we as real estates know or they would represent themselves all day long. That's why they hire us.
Also I wouldn't broadcast the agent gave you the code & you went in the house without her. That is a huge violation of the nwmls here in WA.
Also I wouldn't broadcast the agent gave you the code & you went in the house without her. That is a huge violation of the nwmls here in WA.
- Hamp Yonce, "Zilluminati"
- Contributions:3463
Carmen, did you get a reduced commission arrangement?
Are you saying it doesn't matter? Are you saying that you can now see how an Agent earns their money, even though yours didn't have to? If you hadn't been able to inquire on Zillow 127 times, what would you have done, relied on Agent more? I love your story, but I am confused about the point it was intended to make.
Are you saying it doesn't matter? Are you saying that you can now see how an Agent earns their money, even though yours didn't have to? If you hadn't been able to inquire on Zillow 127 times, what would you have done, relied on Agent more? I love your story, but I am confused about the point it was intended to make.
- HomeSand.net, "White Picture"
- Contributions:4398
"Ok, this house I found it myself 1 year ago. I kept an eye out for it, I did A LOT of research, a million phone calls to know when it was going to be for sale".
Yes, Carmen25 makes 2 phone calls for every minute from one year ago. 8)
BTW, congratulations for your new home!
Yes, Carmen25 makes 2 phone calls for every minute from one year ago. 8)
BTW, congratulations for your new home!
- carmen25
- Contributions:128
Let me tell you something....
I just closed escrow on my dream home 5 days ago! Woohooo!!!
Ok, this house I found it myself 1 year ago. I kept an eye out for it, I did A LOT of research, a million phone calls to know when it was going to be for sale... And I found my own financing. I also found out who was going to be the listing agent before the house was listed. (It is bank owned)..I called the listing agent and told her I want her to represent me. I only contacted the agent by email, she preferred. I never met the agent. She's never been to the house I bought. I've only spoken to her maybe twice on the phone. I am the one who was there during appraisal and inspection. She gave the the code to the lockbox and that's how I was able to get it, by MYSELF. This all took about 6 months. And when escrow closed, she didn't call me. She sent me an email 2 days after. I have to take off the lock box that is attached to the door (not the handle). I don't know how I'm gonna take it off...
I bought the house for $600,000. I am also a Real Estate agent in California. I could've gotten a referral fee. But I know if I went with another agent, I would've not gotten the house.
I put an offer on the house BEFORE it was even on the market. The house was listed on the market for only 1 day. The listing broker put the house in pending status before my offer was accepted, just so they dont get other offers. Even though my offer was at full asking price, within one day being listed, they got 4 other offers all higher than mine. But the listing agent was a good person, and she had a good heart.
I had to do MAJOR repairs on this house BEFORE I close escrow. The agent knows how much work I did. All the agent did was fill out a few forms and fax them. I did the rest.
But at the end of the day, I am happy and I feel like a won the lottery..
I bought the house was $600k, I spent $120k-$150k to repair. Now the house is worth at least a $Million.
Hope that made sense, it is a LONG story and I went through SOOO much, more than anyone will know.
Hope this helped..
I honestly
I just closed escrow on my dream home 5 days ago! Woohooo!!!
Ok, this house I found it myself 1 year ago. I kept an eye out for it, I did A LOT of research, a million phone calls to know when it was going to be for sale... And I found my own financing. I also found out who was going to be the listing agent before the house was listed. (It is bank owned)..I called the listing agent and told her I want her to represent me. I only contacted the agent by email, she preferred. I never met the agent. She's never been to the house I bought. I've only spoken to her maybe twice on the phone. I am the one who was there during appraisal and inspection. She gave the the code to the lockbox and that's how I was able to get it, by MYSELF. This all took about 6 months. And when escrow closed, she didn't call me. She sent me an email 2 days after. I have to take off the lock box that is attached to the door (not the handle). I don't know how I'm gonna take it off...
I bought the house for $600,000. I am also a Real Estate agent in California. I could've gotten a referral fee. But I know if I went with another agent, I would've not gotten the house.
I put an offer on the house BEFORE it was even on the market. The house was listed on the market for only 1 day. The listing broker put the house in pending status before my offer was accepted, just so they dont get other offers. Even though my offer was at full asking price, within one day being listed, they got 4 other offers all higher than mine. But the listing agent was a good person, and she had a good heart.
I had to do MAJOR repairs on this house BEFORE I close escrow. The agent knows how much work I did. All the agent did was fill out a few forms and fax them. I did the rest.
But at the end of the day, I am happy and I feel like a won the lottery..
I bought the house was $600k, I spent $120k-$150k to repair. Now the house is worth at least a $Million.
Hope that made sense, it is a LONG story and I went through SOOO much, more than anyone will know.
Hope this helped..
I honestly
- Tonya Brobeck, "Tonya Brobeck"
- Contributions:637
This should definetly be discussed prior to writing an offer. None the less if your agent agrees it would need to be in writing. I would validate a return from a commission should you have purchased and sold multiple homes with me & you are a priority client. If you are shopping agents per commission I would be concerned about the quality of the agent. Discount brokers generally have limited service even though the concept of reduced commission can sound good at first.
When I hire an attorney, knowing they are on commission, do shop by cost? No, I shop by the level of understanding they give me regarding my issue I am bringing to their attention. Should they display a high level of education regarding my situation, past experience in this area, and sustain a good reputation I choose them. Even if they cost a bit more. Also, most likely they were referred by someone I trust.
When I hire an attorney, knowing they are on commission, do shop by cost? No, I shop by the level of understanding they give me regarding my issue I am bringing to their attention. Should they display a high level of education regarding my situation, past experience in this area, and sustain a good reputation I choose them. Even if they cost a bit more. Also, most likely they were referred by someone I trust.
- Lori Cain, "LoriCainTulsa"
- Contributions:44
If you were shopping for a new dress at Dillards and located the perfect one without assistance from a sales clerk, would you ask for a discount at the register?
- John Stewart, "nwhome.us"
- Contributions:2166
If 90% of buyers are searching online, then I think it is fair to say that 90% of buyers are finding their own homes. The work of a buyer's agent hasn't evaporated, it has shifted to knowing the right price to pay and trying to get a mutually accepted agreement to close.
Certainly have the discussion about how your agent can help you feel better about your purchase, but don't use that particular excuse. Use something with some backbone to it: you only looked at 3 homes? he/she didn't go out with you on weekend tours? they pawned you off on an assistant? you are paying cash and didn't need a financing addendum? they didn't show up at the inspection? they don't have any gardener, mover, painter, plumber, electrical referrals? They're not taking you out to dinner to celebrate your new purchase?
Certainly have the discussion about how your agent can help you feel better about your purchase, but don't use that particular excuse. Use something with some backbone to it: you only looked at 3 homes? he/she didn't go out with you on weekend tours? they pawned you off on an assistant? you are paying cash and didn't need a financing addendum? they didn't show up at the inspection? they don't have any gardener, mover, painter, plumber, electrical referrals? They're not taking you out to dinner to celebrate your new purchase?
- Bonnie Beddall, "bbeddall"
- Contributions:287
For those buyers whose agents agree to a commission cut after already putting in time as a full service agent, what kind of job do you think they did in negotiating on price and terms of purchase if they rolled over so easily and agreed to have their pay cut? I agree with Rob Graham. Your professional agent will sit down with you prior to looking at homes and discuss how they work.
- HomeSand.net, "White Picture"
- Contributions:4398
I got .5% of purchase price from my agent, even if the property was not found by myself, it won't hurt to ask.
- Hamp Yonce, "Zilluminati"
- Contributions:3463
I'm bookmarking this thread. jkonstant nearly endorsed paying full commission, even to the Buyers side agent. And, even though they didn't "find the house".
And to continue Mack's Soccer analogy, for you to cause trouble now, over the commssion split, would be like the Goalkeeper refusing to put the ball back in play, after the ball crossed his goal line. Red Card for time wasting!
And to continue Mack's Soccer analogy, for you to cause trouble now, over the commssion split, would be like the Goalkeeper refusing to put the ball back in play, after the ball crossed his goal line. Red Card for time wasting!
- Dave Skow, "daveskow"
- Contributions:1105
You can certianly ask ...points made prior to this post are all valid
I will add this new piece - if you are able to have the agent provide a credit from their commission , you need to write this into the purchase agreement and these dollars can only go towards the loans closing costs ....this credit cant be a refund to you post closing ...this credit cant be used for part of your down payment
thanks
- Jeff Konstant, "jkonstant"
- Contributions:1970
How did you find it yourself? One of the biggest mistakes home buyers make is believing their agent is the only person responsible for finding them a home. By deciding to work with an agent to buy a home, it becomes a team effort. The often heard complaint is that agents present homes outside the parameters given to them by their buyer clients (price, size, location). What is seldom dicussed is how often a buyer chooses something that is not even remotely close to what they told their agent they wanted.
- Rob Graham, "Rob Graham"
- Contributions:171
If this was something you were considering, I think it would have been better to discuss it before buying a home. If your agent has already done the work of a full service agent, I can imaging they will be pretty angry if you ask for a comission reduction now.
I don't know what kind of work you are in, but imagine going to your job and at the end of the year your boss comes into your office and says, "hey thanks for a great year but we are taking back half your salary." How would you feel?
I don't know what kind of work you are in, but imagine going to your job and at the end of the year your boss comes into your office and says, "hey thanks for a great year but we are taking back half your salary." How would you feel?
- Mack McCoy
- Contributions:1117
Sure, although, they may very well say, "No."
The listing agent goes to extreme lengths to make sure buyers find our listings. We post them on the internet, through the MLS, we buy space on syndicators - our agreement with the Seller is, if we can make a buyer find us, we get paid. If it turns out that the buyer is represented by an agent, us listing agents agree to share the fee with that agent.
Not only don't we care that "you found it yourselves," we did everything we could do to bring it to your attention. Which doesn't mean that you're entitled to any reward, other than, you get to live in the place after closing.
The buyer's agent, on the other hand, invests considerable time in educating people like you to the market. Why they should accept a commission reduction is beyond me.
It is, in fact, like the center of a soccer team imagining that they are the star because they were able to score a goal - after the rest of the team rescued the ball from the defensive end and got it to her.
The listing agent goes to extreme lengths to make sure buyers find our listings. We post them on the internet, through the MLS, we buy space on syndicators - our agreement with the Seller is, if we can make a buyer find us, we get paid. If it turns out that the buyer is represented by an agent, us listing agents agree to share the fee with that agent.
Not only don't we care that "you found it yourselves," we did everything we could do to bring it to your attention. Which doesn't mean that you're entitled to any reward, other than, you get to live in the place after closing.
The buyer's agent, on the other hand, invests considerable time in educating people like you to the market. Why they should accept a commission reduction is beyond me.
It is, in fact, like the center of a soccer team imagining that they are the star because they were able to score a goal - after the rest of the team rescued the ball from the defensive end and got it to her.
We found the house we bought ourselves. Can we ask our buying agent for sm % of commission fee?
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