Reply to Would you interview two RE agents from the same company (different offices/ teams)?

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[quote=Anonymous][quote=RealtorDAD][quote=Anonymous][quote=Anonymous][quote=RealtorDAD]I would have no concerns at all. At KW specifically, each team is run as an independent business. Each team has different areas of expertise.
It is in YOUR best interest to interview many agents and go with the one that feels right. Remember that you don not pay buyers agents, our commission comes from the sellers agreement with the listing agent. My team charges an administration fee at closing, $295, that is it. Be wary of agents that request a retainer fee.

I hope to hear from you,

Brendon Mills
Brendon@MitchCurtisHomes.com

[/quote]

Be wary of agents who charge an “administrative fee” of $295. If you purchase an $800,000 home. The buyer agent’s Company (not the team) is getting $16,000 to $24,000 in commission. Why do you have to pay them an additional $295?[/quote]

OP, you should never pay that "admin fee" Brendon is talking about. It's his fee that the agency charges him, not you, and he's passing it along to his client. First-timers get gouged by this fee. I once had a broker try to charge me this fee and I told her, "no." She said, "If you're too cheap to pay this *only* fee for my services, you're too cheap to buy a house." She would have made 30K commission on the house I bought, so why should I pay her an additional $300 fee (note the fee is $295 instead of $300, a shitty $1.99 tactic so you don't think you're actually paying $2.00). You have a choice to reduce this fee by going to a rebate broker and getting 1% to 2% back, or, just hire an hourly broker or attorney. Home buying is not rocket science and nor is filling out a sales contract. You don't need a buyer's agent unless you don't have time to find your own house (you're on Redfin and going to open houses? that means you're doing the work yourself anyway).

Brendon, you seem to have a lot of time on your hands. Maybe you can tell OP what you have to offer over a rebate broker, or an hourly attorney? 
[/quote]

Hello, "anonymous" 
I just want to clear a few things up in your statement that are inaccurate. Any administration fee is NOT a fee the broker charges us. If you read my response above you would have seen that the broker charges a % to the agents commission based on their cap status. Has nothing to do with an admin fee. My team leader gets the admin fee to pay transaction coordinator. The second inaccurate statement is that you pay a buyers agent, the commission is decided on through the seller and the listing agent, but clearly you already knew that. 
You made a reference to me having a lot of time? Real Estate is not 9-5. I stay involved with the community through various social outlets, and take the time to create a profile and not be "anonymous" in my community. How can you serve a community that you are not involved in?

Your comments seem to come from a negative place.  [/quote]

1. That fee is your fee, not the client's. You can choose to pas it along or not. Most agents do not. OP will shortly find that out on his/her own, even at Keller Williams, where I had agents tell me they will pay the fee.

2. I know how the commission is decided. It's all money on the table and just because you want to call it a commission doesn't mean it won't cost OP anything. OP can go to a rebate broker and get 1-2% back. If they choose you instead, it cost them money. Say it's a 3% commission on a 1m house and a 2% rebate, that's 20K in OP's pocket if they go with a rebate agent that gives 2% back and rebated at closing, guaranteed in the closing documents that OP will read ahead of closing. If OP goes with you as a broker, he just gave you that 20K extra that could have been in his pocket.

So, let's talk about accurate statements, shall we? OP, I believe it's fair and accurate to say that you can choose your agent, whether or not you want a rebate (a piece of that 3%, because after all, you're finding your house online, you're reviewing the contract, you'd better be finding your own inspector and title company (easy), and you'd better be reading/understanding those closing documents). If you choose to go with, for example, Mr. non-anonymous (who considers himself posting here as an exercise of involvement of this community by offering his services, if I understand him correctly), you're not paying out of pocket for the transaction. The seller's agent is splitting the commission with Mr. Non-Anonymous. BUT, if you're looking at all the money on the table for this transaction, you can put any kind of name on any part of the transaction: "rebate", "commission", etc...), and what ultimately matters is how much you walk away with or not. I chose to walk away with 2%. My agent was happy with the 1% earned on a 1m+ sale. If someone convinced me that I should go with, say, Mr. Non-Anonymous who doesn't rebate me, then I'm out 2%. Would that actually cost me out of pocket? No! But would it have cost me anything? You can decide for yourself, OP. My decision was that it would cost me $20+ grand. Maybe Mr. Non-Anonymous has a bag of tricks that will help you do better than a 2% rebate? I don't know. But for your sake, I hope you know how to figure that out before you sign that buyer/agent agreement.

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