Advice on Negotiating Agent Commission?

[Anonymous]

We found a house and want to make an offer.

Used Redfin last time and it was okay but not great. Have a realtor that a friend recommended. Can we negotiate something with the agent? Anyone have experience with this?

It’s not like she would have to go around and show us tons of properties. We just need her to get the offer ready and deal with the seller’s agent.

What would be reasonable? 2%?

[Anonymous]

Find a real estate _lawyer_ who has a realtor license, and negotiate an hourly or fixed fee with them. They work at law firms, and hold the license to make transactions go smoother.

[Anonymous]

We have a realtor we use for these situations (we find the property, need him to do his thing). He gives us half of his commission from the sale.

[Anonymous]

Anonymous wrote:Find a real estate _lawyer_ who has a realtor license, and negotiate an hourly or fixed fee with them. They work at law firms, and hold the license to make transactions go smoother.

I found a great firm I'm interested in hiring. I want them to negotiate the closing/title LLC and also the land plat combination.

I understand that I'll pay them hourly fees based on their service but what about the closing cost fees that the seller pays to the buyers representative. Do I have them return that 2.5% to me (then use it to pay for the services I've required of them)?

- NP

[Anonymous]

Anonymous wrote:We found a house and want to make an offer.

Used Redfin last time and it was okay but not great. Have a realtor that a friend recommended. Can we negotiate something with the agent? Anyone have experience with this?

It’s not like she would have to go around and show us tons of properties. We just need her to get the offer ready and deal with the seller’s agent.

What would be reasonable? 2%?

Commission paid to buyer agent is set by the listing agent

[Anonymous]

Anonymous wrote:

Anonymous wrote:We found a house and want to make an offer.

Used Redfin last time and it was okay but not great. Have a realtor that a friend recommended. Can we negotiate something with the agent? Anyone have experience with this?

It’s not like she would have to go around and show us tons of properties. We just need her to get the offer ready and deal with the seller’s agent.

What would be reasonable? 2%?

Commission paid to buyer agent is set by the listing agent

Yes, but she wants a portion of that rebated you her which is reasonable.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Find a real estate _lawyer_ who has a realtor license, and negotiate an hourly or fixed fee with them. They work at law firms, and hold the license to make transactions go smoother.

I found a great firm I'm interested in hiring. I want them to negotiate the closing/title LLC and also the land plat combination.

I understand that I'll pay them hourly fees based on their service but what about the closing cost fees that the seller pays to the buyers representative. Do I have them return that 2.5% to me (then use it to pay for the services I've required of them)?

- NP

The real estate agent/broker cannot act as an attorney simultaneously. That’s my understanding maybe a lawyer broker can chime in.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Find a real estate _lawyer_ who has a realtor license, and negotiate an hourly or fixed fee with them. They work at law firms, and hold the license to make transactions go smoother.

I found a great firm I'm interested in hiring. I want them to negotiate the closing/title LLC and also the land plat combination.

I understand that I'll pay them hourly fees based on their service but what about the closing cost fees that the seller pays to the buyers representative. Do I have them return that 2.5% to me (then use it to pay for the services I've required of them)?

- NP

The real estate agent/broker cannot act as an attorney simultaneously. That’s my understanding maybe a lawyer broker can chime in.

Right but I don't want to hire an agent or broker. I already have the house(s) identified as well as a title company and plan to close in cash.

I just want to hire a real estate attorney to make the offer, review the contract and EMD with the title company, then help me file the paperwork for the title plat with the local commissioner office.

My only concern is - is it normal to ask them to get the real estate agent's buyers commissioned refunded to me on the date of closing?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Find a real estate _lawyer_ who has a realtor license, and negotiate an hourly or fixed fee with them. They work at law firms, and hold the license to make transactions go smoother.

I found a great firm I'm interested in hiring. I want them to negotiate the closing/title LLC and also the land plat combination.

I understand that I'll pay them hourly fees based on their service but what about the closing cost fees that the seller pays to the buyers representative. Do I have them return that 2.5% to me (then use it to pay for the services I've required of them)?

- NP

The real estate agent/broker cannot act as an attorney simultaneously. That’s my understanding maybe a lawyer broker can chime in.

Right but I don't want to hire an agent or broker. I already have the house(s) identified as well as a title company and plan to close in cash.

I just want to hire a real estate attorney to make the offer, review the contract and EMD with the title company, then help me file the paperwork for the title plat with the local commissioner office.

My only concern is - is it normal to ask them to get the real estate agent's buyers commissioned refunded to me on the date of closing?

No, it's not "normal." The time for negotiation was at the outset.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Find a real estate _lawyer_ who has a realtor license, and negotiate an hourly or fixed fee with them. They work at law firms, and hold the license to make transactions go smoother.

I found a great firm I'm interested in hiring. I want them to negotiate the closing/title LLC and also the land plat combination.

I understand that I'll pay them hourly fees based on their service but what about the closing cost fees that the seller pays to the buyers representative. Do I have them return that 2.5% to me (then use it to pay for the services I've required of them)?

- NP

The real estate agent/broker cannot act as an attorney simultaneously. That’s my understanding maybe a lawyer broker can chime in.

Right but I don't want to hire an agent or broker. I already have the house(s) identified as well as a title company and plan to close in cash.

I just want to hire a real estate attorney to make the offer, review the contract and EMD with the title company, then help me file the paperwork for the title plat with the local commissioner office.

My only concern is - is it normal to ask them to get the real estate agent's buyers commissioned refunded to me on the date of closing?

No, it's not "normal." The time for negotiation was at the outset.

OP is at the outset. She’s not made an offer. All she has done is found a property and found a firm she wants to use.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Find a real estate _lawyer_ who has a realtor license, and negotiate an hourly or fixed fee with them. They work at law firms, and hold the license to make transactions go smoother.

I found a great firm I'm interested in hiring. I want them to negotiate the closing/title LLC and also the land plat combination.

I understand that I'll pay them hourly fees based on their service but what about the closing cost fees that the seller pays to the buyers representative. Do I have them return that 2.5% to me (then use it to pay for the services I've required of them)?

- NP

The real estate agent/broker cannot act as an attorney simultaneously. That’s my understanding maybe a lawyer broker can chime in.

Right but I don't want to hire an agent or broker. I already have the house(s) identified as well as a title company and plan to close in cash.

I just want to hire a real estate attorney to make the offer, review the contract and EMD with the title company, then help me file the paperwork for the title plat with the local commissioner office.

My only concern is - is it normal to ask them to get the real estate agent's buyers commissioned refunded to me on the date of closing?

No, it's not "normal." The time for negotiation was at the outset.

OP is at the outset. She’s not made an offer. All she has done is found a property and found a firm she wants to use.

In that case, sure, ask. But be prepared to hear "no."

[Anonymous]

As a buyer, it doesn't matter. The seller agreement already has a contract with the selling agent that stipulates how much they will pay both agents. You are better off just getting a buyer agent to rebate you 1 or 1.5%.

[Anonymous]

We are selling in the $750k range. What is a good rate as sellers? Realtors have been telling us 5% (2.5% per agent). Our house should be an easy sell, requires no work before listing besides light landscaping for spring, and no staging required. How much room is there for negotiation? We don't want to sell it without an agent.

[Anonymous]

Anonymous wrote:We are selling in the $750k range. What is a good rate as sellers? Realtors have been telling us 5% (2.5% per agent). Our house should be an easy sell, requires no work before listing besides light landscaping for spring, and no staging required. How much room is there for negotiation? We don't want to sell it without an agent.

Why not use Redfin for 1.5%? Especially for an easy sell.

[Anonymous]

Anonymous wrote:Find a real estate _lawyer_ who has a realtor license, and negotiate an hourly or fixed fee with them. They work at law firms, and hold the license to make transactions go smoother.

What's the point of this? It would just cost OP money on top of paying for the house. If she uses an agent, the agent gets paid by the seller.