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

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why are we all doing this little song and dance? It's inflating house prices. Why not just pay 2% less on house prices and the realtors get paid hourly like overseas? I feel like the 5-6% that realtors charge is a bubble on top of house prices. It's like if moving costs were added into your house price too.

+1 The Freakanomics book highlighted this. The current system benefits no one except the agents. Pay people for the time they put into your house. Hourly rate agents are the way of the future.

https://www.nachi.org/forum/f11/exerpt-freakonomics-book-regarding-real-estate-agents-57929/

Agree that an hourly system would be far better than what we have now. Pay for what you use.

[Anonymous]

We used Rob Spicer, and couldn't have been happier. He was very upfront/transparent with different pricing options. This saved us tens of thousands of dollars. He also has a good reputation with other agents, and both closings (on home we were selling and one we were buying) went very smoothly.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why are we all doing this little song and dance? It's inflating house prices. Why not just pay 2% less on house prices and the realtors get paid hourly like overseas? I feel like the 5-6% that realtors charge is a bubble on top of house prices. It's like if moving costs were added into your house price too.

+1 The Freakanomics book highlighted this. The current system benefits no one except the agents. Pay people for the time they put into your house. Hourly rate agents are the way of the future.

https://www.nachi.org/forum/f11/exerpt-freakonomics-book-regarding-real-estate-agents-57929/

+1000!

+2000

I don't know why it doesn't just say sold for 800k, realtor's fees 40k. And then the sellers pay the realtors separate from the house price. A house that's sold by owner with no realtor's fees would look cheaper than the one with realtor's fees if you're using them as comps, but they could be comparable houses.

When I buy a car, the dealer fee is separate.

[Anonymous]

Anonymous wrote:We used Rob Spicer, and couldn't have been happier. He was very upfront/transparent with different pricing options. This saved us tens of thousands of dollars. He also has a good reputation with other agents, and both closings (on home we were selling and one we were buying) went very smoothly.

Thanks for sharing your experience - I will definitely consider working with him. Any other hourly agents out there?

[Anonymous]

Bumping this old thread. Are people currently asking for rebates from agents?

[Anonymous]

Anonymous wrote:Very common. If you aren't getting money back, you are being scammed.

How did you go about asking/negotiating it?

[Anonymous]

Paying full commission to agents is so old. Rebates and credits are the new things. I recently bought a property and got everything more than 1% from the agent and it got adjusted at the the time of closing. No issues at all.

[Anonymous]

Anonymous wrote:Yes, absolutely - ask for a rebate! I did most of the work, (attended open houses, created list of homes I wanted to see) and the discount realtor opened doors and handled the paperwork - I was able to get 2% back on $1mil+ home. Good luck, OP!

Is it still possible in DC? I know a few in VA and MD.

[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.

\


Ok, Mr or Ms agent. No one cares if he invested time. They are tons of transactions he had very easily for full commission and it's about time to start sharing that big check.

[Anonymous]

Is there an agent in DC that does this? Finalized a property and need an agent to the credit back.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Very common. If you aren't getting money back, you are being scammed.

How did you go about asking/negotiating it?

Nothing huge, just ask and say that it is a common practice. Opening doors can't be worth this much.

[Anonymous]

Anonymous wrote:

Anonymous wrote:real estate agents are going the way of the dodo. expect massive shake-off in the years to come.

yes, ask for a rebate. 1% is minimum.

You've been saying this for years. Hasn't happened yet.

Yes, it is happening. I got 1.5% commission back recently on a purchase for a TH in Fredericksburg. My agent was Subba Kolla.

[Anonymous]

I think Rob Spicer is licensed in DC.

[Anonymous]

Anonymous wrote:I think Rob Spicer is licensed in DC.

Thanks! I'll talk to him. There are a few more I was able to find in DC that do this regularly. Never looked at it before but now I am seeing a lot of agents doing this in VA and MD.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think Rob Spicer is licensed in DC.

Thanks! I'll talk to him. There are a few more I was able to find in DC that do this regularly. Never looked at it before but now I am seeing a lot of agents doing this in VA and MD.

But not DC?

Are all agents offering this? i.e. is it odd to not ask for the rebate?