IrvineRealtor?s Proposal:

[quote author="zubs" date=1252544491]If you want to tour a home, it should like $100 / house. Then if you toured 5 houses, it would be $500 bucks. Then if you buy one, the money should be refunded....anyway something like that.</blockquote>


The last two times I went house hunting I simply called and scheduled an appointment to view the home with the seller's agent. Isn't that their job?



The downside is that you have to put up with the seller's agent trying to convince you to allow them to represent you - which can be frickin' annoying.
 
[quote author="gypsyuma" date=1252975397][quote author="zubs" date=1252544491]If you want to tour a home, it should like $100 / house. Then if you toured 5 houses, it would be $500 bucks. Then if you buy one, the money should be refunded....anyway something like that.</blockquote>


The last two times I went house hunting I simply called and scheduled an appointment to view the home with the seller's agent. Isn't that their job?



The downside is that you have to put up with the seller's agent trying to convince you to allow them to represent you - which can be frickin' annoying.</blockquote>
I just tell 'em the truth which is that we will represent ourselves as we always do. They get the message quick.
 
[quote author="awgee" date=1252976381][quote author="gypsyuma" date=1252975397][quote author="zubs" date=1252544491]If you want to tour a home, it should like $100 / house. Then if you toured 5 houses, it would be $500 bucks. Then if you buy one, the money should be refunded....anyway something like that.</blockquote>


The last two times I went house hunting I simply called and scheduled an appointment to view the home with the seller's agent. Isn't that their job?



The downside is that you have to put up with the seller's agent trying to convince you to allow them to represent you - which can be frickin' annoying.</blockquote>
I just tell 'em the truth which is that we will represent ourselves as we always do. They get the message quick.</blockquote>


Do you receive a commission for representing yourself, or is the assumption that the price will reflect the lower transactions costs? Reason I ask is I have a agent, family friend, who is willing to rebate 2% back to me.
 
[quote author="CapitalismWorks" date=1252981856][quote author="awgee" date=1252976381][quote author="gypsyuma" date=1252975397][quote author="zubs" date=1252544491]If you want to tour a home, it should like $100 / house. Then if you toured 5 houses, it would be $500 bucks. Then if you buy one, the money should be refunded....anyway something like that.</blockquote>


The last two times I went house hunting I simply called and scheduled an appointment to view the home with the seller's agent. Isn't that their job?



The downside is that you have to put up with the seller's agent trying to convince you to allow them to represent you - which can be frickin' annoying.</blockquote>
I just tell 'em the truth which is that we will represent ourselves as we always do. They get the message quick.</blockquote>


Do you receive a commission for representing yourself, or is the assumption that the price will reflect the lower transactions costs? Reason I ask is I have a agent, family friend, who is willing to rebate 2% back to me.</blockquote>


Sorry, I hope I was not misleading. No, there is no commission for representing ourselves, and I am not an agent.

Our offers always accounts for 3% less due to one less agent receiving a commission. For us, it is not an assumption, our offer indeed does reflect the decreased costs of sale.

The next question always seems to be, "How do you know if the deal includes less commission?"

I don't. Nor do I care. That is between the seller and the listing agent.
 
Thanks. Makes sense. I am just trying to figure out if I am better off DIY on my next purchase. I kind of figure the price will be the price, and the commissions don't figure in the seller's thinking. That is just my assumption. It would probably be best to start negotiations with the assumption that a fill 3% commission will be paid, then use the lack of a commission to ensure close to the 3% is taken off the price (slightly less than 3% to keep the numbers constant for the selling agent).
 
[quote author="CapitalismWorks" date=1252985827]Thanks. Makes sense. I am just trying to figure out if I am better off DIY on my next purchase. I kind of figure the price will be the price, and the commissions don't figure in the seller's thinking. That is just my assumption. It would probably be best to start negotiations with the assumption that a fill 3% commission will be paid, then use the lack of a commission to ensure close to the 3% is taken off the price (slightly less than 3% to keep the numbers constant for the selling agent).</blockquote>
Cappy - Let me ask you a question.

How long do you think it takes the listing agent to offer to renegoiate the total commissions paid when an offer comes in with no buyers agent?

If I am selling, and an offer comes in with no buyers agent, my listing agent had better offer the reduced commission before he/she even tells me what the offer is.
 
[quote author="awgee" date=1252987961][quote author="CapitalismWorks" date=1252985827]Thanks. Makes sense. I am just trying to figure out if I am better off DIY on my next purchase. I kind of figure the price will be the price, and the commissions don't figure in the seller's thinking. That is just my assumption. It would probably be best to start negotiations with the assumption that a fill 3% commission will be paid, then use the lack of a commission to ensure close to the 3% is taken off the price (slightly less than 3% to keep the numbers constant for the selling agent).</blockquote>
Cappy - Let me ask you a question.

How long do you think it takes the listing agent to offer to renegoiate the total commissions paid when an offer comes in with no buyers agent?

If I am selling, and an offer comes in with no buyers agent, my listing agent had better offer the reduced commission before he/she even tells me what the offer is.</blockquote>


Both excellent points. I am definitely leaning towards going it alone (hence the interest). At this point the real issue is my sense of obligation to the family friend, to whom I verbally committed to use him when we eventually buy...
 
[quote author="CapitalismWorks" date=1252989558]Both excellent points. I am definitely leaning towards going it alone (hence the interest). At this point the real issue is my sense of obligation to the family friend, to whom I verbally committed to use him when we eventually buy...</blockquote>


So, basically, you get to find out if your word is actually your bond?
 
[quote author="Nude" date=1252993579][quote author="CapitalismWorks" date=1252989558]Both excellent points. I am definitely leaning towards going it alone (hence the interest). At this point the real issue is my sense of obligation to the family friend, to whom I verbally committed to use him when we eventually buy...</blockquote>


So, basically, you get to find out if your word is actually your bond?</blockquote>


More importantly how much it will cost me to keep my word. I think it is important to note that my commitment was made at a time when I felt a real estate agent was necessary for all transactions, and the intention of the statement was to indicate that I was (1) happy with the work in relation to the recent closed sale of my condo, and (2) I would not use a different real estate agent.



I am currently considering buying a home through a NTS. Under those circumstances there is no apparent role for a real estate agent.
 
- don't use relatives for ANY bussines transaction - period



- the entire comission thing is f...d up anyway. As long as the seller pays most fees incl both comissions it will be always screwed up... I think those costst shoud be split 50/50... Why is it 100/0 ?



Anyway... When I sold my property I priced it in a way I know I don't have to pay full comission on my side (thanks to Scott) and when a potential buyer without an agent signed up showed up I offered an additional discount of 3%...



Comission shouldn't be % based, it should be a fixed price... Maybe I'm just bitter that my jacka... Buyers agent got 2.5% for doing squat (and negotiating real bad for his client too - which was great for me)
 
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