How common is it for buyers to get part of the commission?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

OP enlisted an agent's services for some period of time and now wants to change the compensation arrangement mid-stream. No harm in asking for a rebate, but that should have been done at the outset.

Are you not able to read English ??? He clearly wrote that his arrangement has expired.

Actually "at this point" our agreement has expired. So we could part ways if I chose to do that. I want to write-up and sign a new agreement with him, but this time I'm considering asking for a rebate. He still will get a substantial commission out of the deal.

I read English just fine. Are you not able to have common sense? The agent has already invested a fair amount of time in him and now he wants to reduce the compensation as a condition to continue working together. That's his right, but it's a pretty shitty thing to do and if I were the agent as a matter of principle I'd tell him to get lost and bad mouth him to all of my colleagues.

No, I'm not an agent. I'm just appalled at the OP's attitude.

But I have no patience for people who like to move goalposts. It's small.

Gee agent, thanks for your feedback. It's not as though there aren't a gazillion agents out there looking for buyers! With all of the information that's out there now on the internet, the buyers are doing most of the work. They should be compensated by getting a 1-2% of the commission back as a result. Welcome to the new reality, agent!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

OP enlisted an agent's services for some period of time and now wants to change the compensation arrangement mid-stream. No harm in asking for a rebate, but that should have been done at the outset.

Are you not able to read English ??? He clearly wrote that his arrangement has expired.

Actually "at this point" our agreement has expired. So we could part ways if I chose to do that. I want to write-up and sign a new agreement with him, but this time I'm considering asking for a rebate. He still will get a substantial commission out of the deal.

I read English just fine. Are you not able to have common sense? The agent has already invested a fair amount of time in him and now he wants to reduce the compensation as a condition to continue working together. That's his right, but it's a pretty shitty thing to do and if I were the agent as a matter of principle I'd tell him to get lost and bad mouth him to all of my colleagues.

No, I'm not an agent. I'm just appalled at the OP's attitude.

But I have no patience for people who like to move goalposts. It's small.

Gee agent, thanks for your feedback. It's not as though there aren't a gazillion agents out there looking for buyers! With all of the information that's out there now on the internet, the buyers are doing most of the work. They should be compensated by getting a 1-2% of the commission back as a result. Welcome to the new reality, agent!

Generally, I agree with you. But what about the really great agents who're worth every penny. If I had a choice between 1% back and a really awesome agent, I'd go with the agent. 2% back? That's a tough one. I'd probably go with 2% back because in my target areas, you're looking at multiple bids and escalation clauses. That agent can't do much for me unless the deal goes sideways.

[Anonymous]

Literally everyone is getting a rebate back except for you even if it's just a $1000 gift card to Home Depot.

We paid rob spicer $250 and got 3% back.

[Anonymous]

Anonymous wrote:Literally everyone is getting a rebate back except for you even if it's just a $1000 gift card to Home Depot.

We paid rob spicer $250 and got 3% back.

LOL

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

OP enlisted an agent's services for some period of time and now wants to change the compensation arrangement mid-stream. No harm in asking for a rebate, but that should have been done at the outset.

Are you not able to read English ??? He clearly wrote that his arrangement has expired.

Actually "at this point" our agreement has expired. So we could part ways if I chose to do that. I want to write-up and sign a new agreement with him, but this time I'm considering asking for a rebate. He still will get a substantial commission out of the deal.

I read English just fine. Are you not able to have common sense? The agent has already invested a fair amount of time in him and now he wants to reduce the compensation as a condition to continue working together. That's his right, but it's a pretty shitty thing to do and if I were the agent as a matter of principle I'd tell him to get lost and bad mouth him to all of my colleagues.

No, I'm not an agent. I'm just appalled at the OP's attitude.

But I have no patience for people who like to move goalposts. It's small.

Gee agent, thanks for your feedback. It's not as though there aren't a gazillion agents out there looking for buyers! With all of the information that's out there now on the internet, the buyers are doing most of the work. They should be compensated by getting a 1-2% of the commission back as a result. Welcome to the new reality, agent!

You’re such a dotard.

[Anonymous]

You’re such a dotard.

For outing you as an agent? or for calling you out for making the most irrational argument in this forum?

[Anonymous]

OP here. Thank you for your responses (and defending me, I'm not a bad person). As a PP repeated for me, my contract with the realtor has expired. At the end of a set contract period (as with any job that has a contract period) we assess how things are going and if anything needs to change. Then, if desired, a new contract is written up.

Our realtor is nice, but he's not my friend, he's my realtor. I'm doing half the work myself finding the listings and attending open houses. My question was if others have asked for a rebate, of any amount, in their agreements. Sounds like the answer is yes... and it's not uncommon.

[Anonymous]

Is it common with the "big" real estate firms? McE, Remax,Keller Williams?

[Anonymous]

Anonymous wrote:OP here. Thank you for your responses (and defending me, I'm not a bad person). As a PP repeated for me, my contract with the realtor has expired. At the end of a set contract period (as with any job that has a contract period) we assess how things are going and if anything needs to change. Then, if desired, a new contract is written up.

Our realtor is nice, but he's not my friend, he's my realtor. I'm doing half the work myself finding the listings and attending open houses. My question was if others have asked for a rebate, of any amount, in their agreements. Sounds like the answer is yes... and it's not uncommon.

I would suggest that you have some backups in hand before you approach your (previous) broker. If you really prefer to work with this particular agent and s/he balks at a rebate, show that you already have someone else as a backup, and propose that you work under a similar structure. The key is to be unemotional, prepared and informed. Fwiw, I'm the poster that got 2% back on the $1 mil+ home. It's your home, it's YOUR money! Good luck!

[Anonymous]

I would suggest that you have some backups in hand before you approach your (previous) broker. If you really prefer to work with this particular agent and s/he balks at a rebate, show that you already have someone else as a backup, and propose that you work under a similar structure. The key is to be unemotional, prepared and informed. Fwiw, I'm the poster that got 2% back on the $1 mil+ home. It's your home, it's YOUR money! Good luck!

Good job. I am the poster who got only 1% back on a 1 mil+ house that I FOUND and NEGOTIATED ON. My agent walked away with $15 k for less than 10 hrs of work(by her own admission). I would never hire a traditional agent again. Either go 2% back or go hourly.

[Anonymous]

I don’t know if I got a special deal or what. An agent who typically offers 2% rebate agreed to 2.5% back if my purchase price is over $1M.

Does anyone else have this arrangement?

[Anonymous]

^this is only for listings that offer 3% commission to buyers agent.

For 2.5% buyers agent commission, I would get 2% rebate while agent gets 0.5%

[Anonymous]

Anonymous wrote:I don’t know if I got a special deal or what. An agent who typically offers 2% rebate agreed to 2.5% back if my purchase price is over $1M.

Does anyone else have this arrangement?

Who is the agent? I'd like 2.5% back too.

[Anonymous]

What real estate companies are these people working with that give you 2-2.5% back?
Are they willing to show you a house before the open house? In the area I am looking in many sell before they go to OH.

[Anonymous]

Anonymous wrote:What real estate companies are these people working with that give you 2-2.5% back?
Are they willing to show you a house before the open house? In the area I am looking in many sell before they go to OH.

I understand why some people would sell before it goes to open house, but open house usually happens within a short time period once it's listed, and if I were a seller, I'd want as many people seeing it as possible and gathering as many offers as possible. If you sell it too early, you could be shi** in your own hat.