buying a house without an agent

Financial Planning - Financial planning in general. (Moderated) 

  Yahoo!   Google   Windows Live   del.icio.us   digg   Netscape

Subject Author Date buying a house without an agent beliavsky 02-14-2008  Re: buying a house without an agent PeterL 02-14-2008  Re: buying a house without an agent Avrum Lapin 02-14-2008  Re: buying a house without an agent Don 02-14-2008  Re: buying a house without an agent catalpa 02-14-2008  Re: buying a house without an agent kastnna 02-14-2008  Re: buying a house without an agent Andrew Koenig 02-15-2008
Posted by kastnna on February 14, 2008, 7:46 pm On Feb 14, 1:23 pm, beliav...@aol.com wrote: > Is it possible to save money on buying a house if you do not use a > real estate agent? If the usual 6% commission is split equally between > the buying and selling agent, and it comes from the pocket of the > seller, the seller should be willing to sell to me at a 3% lower price > if he only needs to a 3% commission to his agent. Or does the full 6% > go to the selling agent if the buyer has no agent FYI, it's not always split evenly. I used a buying agent and when the seller refused to negoiate any further my agent offered to give back 1% to the seller in order to make the deal go through. The selling agent got 2.5% and my agent got 1.5% (the seller had already negotiated to 5%). In this market anything is possible, but ordinarily the seller's agent isn't inclined to give away much. Furthermore, the seller isn't going to be enticed to negotiate unless some of the savings goes back into his posket also. I've seen cases where the selling agent agrees to a lesser amount and the buyer and seller split the savings. Good luck in your house hunting! -------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup. Posted by Andrew Koenig on February 15, 2008, 9:35 am > Is it possible to save money on buying a house if you do not use a > real estate agent? If the usual 6% commission is split equally between > the buying and selling agent, and it comes from the pocket of the > seller, the seller should be willing to sell to me at a 3% lower price > if he only needs to a 3% commission to his agent. Or does the full 6% > go to the selling agent if the buyer has no agent? The normal situation (at least in this part of the USA) is that the buyer signs a deal with an agent that commits the buyer to paying 6% of the purchase price to the agent when the house is sold, regardless of how many other agents are involved. This is true whether you come in with an agent or not. -------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup. Similar Threads Posted job opportunities on being enrolled agent February 18, 2007, 7:20 pm House vs Townhouse in NH August 7, 2007, 10:27 am House appraisals September 22, 2007, 10:20 am Saving for a house and retirement January 22, 2008, 5:25 am How to sell house you live in? September 30, 2007, 2:00 pm selling a house in houston tx, 7% tax? fishy October 1, 2008, 4:16 am Using 401K as a bridge loan for house purchase June 9, 2007, 12:02 pm Refi-ing when House Appraises below Principal Remaining March 2, 2008, 7:09 pm House Democrats contemplate abolishing 401(k) tax breaks October 17, 2008, 8:08 am OT Buying A Townhouse May 30, 2007, 4:59 am