Reply to Options for avoiding high sellers' agent fee in hot neighborhood

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You're severely limiting your options by not paying a seller's fee.  Most buyers still work with an agent.  Just offer at least 2% or 2.5% to a buyer's agent.  List for a flat fee.[/quote]

^^ Oh sorry. I'm being stupid. I mean to say limiting your options by not paying a buyer's fee.

Yeah, just list for a flat fee. Take pro pictures. Declutter like crazy.  [/quote]

OP here. As noted above, I plan to offer 2 or 2.5% to buyer's agent.  [/quote]

You need to offer at least 2.5 to buyer agent. You simply won't get any buyers coming by for 2%.

Remember also that a lot of buyers will be on the hook for that extra 50 basis points or 100 basis points as many contracts stipulate 3%.

With 2.5% becoming more common, I think the 50 basis points is less an issue. But not sure many buyer agents would forego 100 basis points.

FWIW, most FSBOs end up getting less money for their homes than had they listed with a full-service agent who markets the property properly, even net of commission.

No, I'm not an agent.[/quote]

[b]I've never met a buyer that signed a contract with a buyer's agent. [/b]So they're not on the hook.  And in the super hot areas of DC where the buyers are going to be in their 30s and 40s and type A and have been looking for 1-2 years because there is no inventory, do you think they are waiting for realtors to send them suggested houses to visit that weekend? No, the buyers are all checking Zillow or redfin every morning and sending their agents a ping 20 minutes after the house is listed that they want to go see it.  The agent could I guess say 'no', but the agent will get fired pretty quick if they do that. So once the buyers come see the house, do you think the agent is going to dissuade them from putting in an offer, when that means another 6-12 months of househunting for these buyers? or will the agent forgo the $6500 commission just to get these buyers out the door?  I'm guessing the latter.  [/quote]

Interesting.  I'd suspect plenty do.  We had a long and foster agent try and get us to sign with her.  Of course her contract required us to pay up if the seller was offering less than 3 percent commission.  However, we are savy buyers and knew to not go for this.  The same agent also told us the service was "free" for buyers but required a $350 admin fee.  So not free.  They lied.  I can imagine there are a lot of people out there who may not have noticed the clause.  For some reason people seem to act like sheep and think they need a buyer's agent.  [/quote]

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