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

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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Every house we purchased since 2007 we have gotten a 2.25% buyer rebate but we do all the work and the realtor just makes the offer contract [/quote]

So the agents wrote the contract for 0.25%? Who would do that? After the brokerage takes their cut and the agent pays taxes on that? I call BS. [/quote]
0.25% on $1M or more is a lot of money for minimal work requiring minimal skill/education.

[quote=Anonymous]Did they go with you for the home inspection? Communicate with the title company? Take you to the walk though?? [/quote]
Anyone can find a good inspector and title company on Google, Angie’s list, or even this forum.

0.25% or $25,000 should cover dozens of hours of walkthroughs at $50/hour, which is an exorbitantly high hourly rate for work that doesn’t entail any specialized skill or even a high school education.[/quote]
I think you meant to say $2,500, but your point still stands.[/quote]

After the broker cut and taxes, the agent is working for nothing. [/quote]
Realtors (especially in markets like the DMV) have been overcompensated for so long that they’ve developed unrealistic expectations for compensation. The value-added work that the average realtor performs (in the present Internet age with online listings) generally does not justify a fee of more than $50 per hour.  Real estate lawyers in the DMV who normally charge $150-200 per hour will prepare and review all of the paperwork for a home sale for $750-$1000 total ($300-500 in smaller markets.  Everyone pays taxes, and the average real eatate agent is in the 22% tax bracket, and pays much less in taxes than the average real estate attorney.

I will grant you that the payments real estate agents must make to parent brokerage firms is a scam in of itself.  Brokerage firms have no business collecting the fees that they do.[/quote]

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