Reply to Sellers, pls stop offering pay buyer's agent commission!

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Reply to "Sellers, pls stop offering pay buyer's agent commission! "

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP here: to clarify I’m not an erratic emotional first time home buyer. I have 11 rental units and successful RE transactions to which my loan officer attested to with selling agent. My offer was professionally written by an attorney with 60 years of experience. There were no contingencies in the offer besides financing and I would take the property as is. I closed my prior purchases unrepresented  just fine. 
The person who was forced on my as my “buyers agent” did literally nothing with the paperwork and didn’t find the house for me in the first place. I identified this  property for development using complex spreadsheets and paid $400 to architect for feasibility study of zoning regs before drafting an offer

It’s the shady nature of transaction and scam committed by the agents that scared me away. I would have absolutely bought the house directly but I couldn’t find the owner

I believe sellers DO need to stop offering buyers commission and let buyers contract agents themselves if they want[/quote]

You’re not wrong, but as someone planning to sell in the spring, these threads have convinced me that the realtors are still playing games and we might mysteriously lack buyers if we don’t offer something to their agents. [/quote]

You don't need to and shouldn't agree to pay a certain percentage or any amount to the buyer agent as part of the listing agreement.
 
You should however expect that offers from represented buyers will ask for commission to be paid from loan proceeds.  You should anticipate that buyer agent commission will come out of loan proceeds.  [/quote]

I think sellers should expect to price their houses at market and receive adequate direct buyers, without any buyers agents, as it’s easy for everyone to find properties online nowadays. Also sellers should ensure that selling agent only has limited time to sell property, eg limit their engagement to 2-3 months. If selling agent doesn’t bring any buyers it means they don’t advertise it properly, or not passing valid offers to the seller, plotting with insiders how to double their commissions [/quote]

This is a good idea. The problem is the greedy realtors lying and colluding to keep the two realtor system with double commissions in place.[/quote]

Don’t give the authority to sell your property to anyone longer than for 2 months. If the selling agent is not doing their job/not bringing a variety of represented and not represented buyers, they are likely cooking something behind your back

And any seller can go to Zillow yourself and check for how much homes similar to yours sold for prior year, and price it adequately.

I’m a buyer and that’s where I start . Unfortunately many sellers price their homes inadequately (200k+ relative comparable houses sold recently on their own block) . All these overpriced houses tend to sit 30+ days on the market. Has nothing to do with the agents [/quote]

LOL so much delusion with you. You definitely are frequently wrong but rarely in doubt.[/quote]

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