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][quote=Anonymous][quote=Anonymous]Unrepresented buyers are a nightmare. Most sellers would prefer to work with a buyers agent who will get the deal to the closing table. [/quote]Yes I posted above. I would take a lower offer from a represented buyer over an unrepped higher offer.[/quote]

Are you the seller or the seller’s agent? Because if an unrepped buyer means the seller nets an extra 3%, that seems worth it. [/quote]

No, because unrepped buyers expect a discount for not being repped. [/quote]

It doesn’t matter what they expect - it’s a negotiation.[/quote]

Play this out from a seller’s perspective.

You list your house for $100,000 (to keep the math simple).

You get two offers.

Offer 1 is full price and they have a buyer agent who wants 2.5%. The buyer wants you to pay it. Your net is $97,500 (ignoring other closing costs for purposes of this example).

Offer 2 is an unrepresented buyer. They offer $98,000 and point out they don’t have an agent so you will net more.

Which are you taking? Spoiler: I am not automatically taking Offer 2. Too many other factors, the biggest of which is can they get to settlement?

Other things I am going to be asking is how much are they offering in EMD? What is their financial situation/lending status? How difficult are they going to be on the home inspection negotiations (since they’ve already telegraphed they’re kind of miserly with their attitude about agents)? How much more work is my LISTING agent going to have to do to make this deal happen. And then I am going to have ask whether there is higher risk of the transaction not closing since the buyer isn’t represented. If the answer to all these things is satisfactory I might take Offer 2. But it’s hardly a reflex. [/quote]

All things being equal I’m taking 2, because I’m not into throwing away money. My listing agent is getting a lot lf money already out if the deal so they can do the work. This would be worth $30k to me (based on sales price for my home) so heck, I’d be perfectly willing to give the buyer a few thousand to pay a RE attorney to understand the closing process.

It’s not being “miserly” to not want to throw away 30k. [/quote]

But that’s just it: Never, ever, are two offers the same except the price. So there’s never, ever an “all things being equal” scenario. [/quote]

Sure well, being willing to forgo buyer’s agent commission significantly sweetens the offer for most rational people …. [/quote]

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