Advice on Negotiating Agent Commission?
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Anonymous
How is that reasonable? |
Anonymous
PP here. We've asked if the agent could go to 4% (Redfin percentage for seller (1.5%) & buyer (2.5%) but was wondering what the norm is now with Redfin and other discount agents. Is it likely a traditional agent will match 4%? |
Anonymous
We sold with Redfin for 3.5%. 2.5% to buyer's agent and 1% to Redfin. We couldn't find a traditional agent to match that, although we only reached out to a couple. |
Anonymous
Because all the agent will do is to fill out a standard form. They did not even have to open the door. How is it reasonable to pay them 3% of the list price for that? |
Anonymous
How interesting that you think a buyer’s agent’s work is done after opening a door. |
Anonymous
No, as I said, they will also need to fill out a form and maybe answer a couple of questions. I still don’t see how that is worth 3% of the transaction. |
Steve
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Pretty easy: "Hi X, I've toured 1234 Main St and I'd like to put in an offer at $X. Would you be willing to represent me on this transaction for a Y% rebate?" I've done this arrangement for a few buyers. In a competitive environment you'll still want to find an agent that's got a decent reputation among other agents. The offer has to be presented well. If you're offering well over list price and waiving contingencies then it matters less. |