Is $9,000 a fair price for filling out paperwork?

NEW -> Contingent Buyer Assistance Program
It should be less than $500 to have a good RE attorney write the offer for you. If you really care about your money, and you're paying attention, you will be sure to (at a minimum) write the offer for the amount you want to pay minus the buy side commission (2.5 or 3%).



Now, if you have the cash to cover some additional closing costs, here's another thing that you may want to think about - Write the offer for the amount you want to pay, minus any commission, and pay the commission at closing. So in this scenario, if we assume the sellers contract with the listing broker specifies a 6% commission, but you want to save the buy side commission, you would offer 568k for the property and you would offer to pay the listing agent 18k at closing. But you need to have the $18k to cover this additional closing cost.



You can also play some number games if you like. So in this situation you might say, OK, I'm going to pay the listing agent 3% of the purchase price and the purchase price that I'm going to pay is $568k. So the listing agents commission is $17,040. Or you can say that 3% is way too much to pay and offer less.



The points I'm making is that it's all "your" money, you're the one that has to pay it back, you're the one who has to pay interest for 30-years on any commission that is rolled into the purchase price, you're the one who has to pay taxes based on the purchase price and any commission that is rolled into that purchase price, so don't be afraid to try and keep control of "your" money. It does matter, it can make a significant difference.



Does the listing agent have already have a legal contract with the seller? Sure they do. So what? Will the listing agent insist that everyone stick to the already established and legally binding terms of their contract? Maybe. It is important to ensure that the sellers get a copy of this type of offer, and that they understand what you are proposing. The seller will net the same amount, the broker will net less, but a little Ramen is better than no Ramen. And if you happen to come across a broker that has even a passing clue as to what a "fiduciary" is, well it gets a bit tricky to try and reconcile a refusal to modify the existing terms simply because they're going to net less.
 
[quote author="Mcdonna1980" date=1232342642][quote author="usctrojanman29" date=1232341532][quote author="Mcdonna1980" date=1232341316][quote author="SoCal78" date=1232340542][quote author="Mcdonna1980" date=1232339979]If I do put in the offer by myself is she still able to collect the full 6% commission?</blockquote>


Yes. But why would you want to write up the offer yourself when she is already being paid to provide that service for you?



I personally will not work with a dual agent to represent me while representing the other party at the same time. I feel there is too much conflict of interest.</blockquote>


I did not realize that she could collect the full commission if I was acting as agent on my behalf. IR2 can you clarify this? If I'm acting as my own agent can the seller's agent still collect the full commission?</blockquote>
Yes, she would get the full commission if you act as your own agent or you have her represent you.</blockquote>


What if I put in my contract that she would be paid no more than 3% commission by the seller if my offer was accepted?</blockquote>
That is not for you to decide, the seller and seller's agent have a listing agreement so you would not have the right to change the terms of the listing agreement. The only time she would get 3% is if you had your own buyer's agent where the commission would be split between your buyer's agent and the seller's agent.
 
[quote author="tmare" date=1232343156]You are fighting a losing battle that has been fought a million times before. She already has a contract, are you seeking to nullify the contract she has with the seller? Again, not going to happen.</blockquote>


I've won this battle before, I'll win it again. It's like any battle, you have to pick your spots, you need to have the high ground, there are situations where victory will be impossible, and situations where victory is likely.
 
[quote author="usctrojanman29" date=1232343752][quote author="Mcdonna1980" date=1232342642][quote author="usctrojanman29" date=1232341532][quote author="Mcdonna1980" date=1232341316][quote author="SoCal78" date=1232340542][quote author="Mcdonna1980" date=1232339979]If I do put in the offer by myself is she still able to collect the full 6% commission?</blockquote>


Yes. But why would you want to write up the offer yourself when she is already being paid to provide that service for you?



I personally will not work with a dual agent to represent me while representing the other party at the same time. I feel there is too much conflict of interest.</blockquote>


I did not realize that she could collect the full commission if I was acting as agent on my behalf. IR2 can you clarify this? If I'm acting as my own agent can the seller's agent still collect the full commission?</blockquote>
Yes, she would get the full commission if you act as your own agent or you have her represent you.</blockquote>


What if I put in my contract that she would be paid no more than 3% commission by the seller if my offer was accepted?</blockquote>
That is not for you to decide, the seller and seller's agent have a listing agreement so you would not have the right to change the terms of the listing agreement. The only time she would get 3% is if you had your own buyer's agent where the commission would be split between your buyer's agent and the seller's agent.</blockquote>


I disagree, I AM the one to decide where "my" money goes. It makes a difference to me financially. Again, if the broker and/or seller insist on sticking to the existing agreement, well, I lose. On to the next opportunity.
 
[quote author="mikal1" date=1232343602]It should be less than $500 to have a good RE attorney write the offer for you. If you really care about your money, and you're paying attention, you will be sure to (at a minimum) write the offer for the amount you want to pay minus the buy side commission (2.5 or 3%).



Now, if you have the cash to cover some additional closing costs, here's another thing that you may want to think about - Write the offer for the amount you want to pay, minus any commission, and pay the commission at closing. So in this scenario, if we assume the sellers contract with the listing broker specifies a 6% commission, but you want to save the buy side commission, you would offer 568k for the property and you would offer to pay the listing agent 18k at closing. But you need to have the $18k to cover this additional closing cost.



You can also play some number games if you like. So in this situation you might say, OK, I'm going to pay the listing agent 3% of the purchase price and the purchase price that I'm going to pay is $568k. So the listing agents commission is $17,040. Or you can say that 3% is way too much to pay and offer less.



The points I'm making is that it's all "your" money, you're the one that has to pay it back, you're the one who has to pay interest for 30-years on any commission that is rolled into the purchase price, you're the one who has to pay taxes based on the purchase price and any commission that is rolled into that purchase price, so don't be afraid to try and keep control of "your" money. It does matter, it can make a significant difference.



Does the listing agent have already have a legal contract with the seller? Sure they do. So what? Will the listing agent insist that everyone stick to the already established and legally binding terms of their contract? Maybe. It is important to ensure that the sellers get a copy of this type of offer, and that they understand what you are proposing. The seller will net the same amount, the broker will net less, but a little Ramen is better than no Ramen. And if you happen to come across a broker that has even a passing clue as to what a "fiduciary" is, well it gets a bit tricky to try and reconcile a refusal to modify the existing terms simply because they're going to net less.</blockquote>
She doesn't need to spend money by getting a real estate attorney, she should get her own buyer's agent. A good real estate agent will assist her in navigating through all the paperwork and looking at all of the comps and listings to determine what a fair price to pay is. If she has already picked the property out and is fairly certain that she will buy it then she should be able to get a buyer's agent who would be more than happy to contribute some of his commission towards her closing costs IMHO.
 
[quote author="mikal1" date=1232344008][quote author="usctrojanman29" date=1232343752][quote author="Mcdonna1980" date=1232342642][quote author="usctrojanman29" date=1232341532][quote author="Mcdonna1980" date=1232341316][quote author="SoCal78" date=1232340542][quote author="Mcdonna1980" date=1232339979]If I do put in the offer by myself is she still able to collect the full 6% commission?</blockquote>


Yes. But why would you want to write up the offer yourself when she is already being paid to provide that service for you?



I personally will not work with a dual agent to represent me while representing the other party at the same time. I feel there is too much conflict of interest.</blockquote>


I did not realize that she could collect the full commission if I was acting as agent on my behalf. IR2 can you clarify this? If I'm acting as my own agent can the seller's agent still collect the full commission?</blockquote>
Yes, she would get the full commission if you act as your own agent or you have her represent you.</blockquote>


What if I put in my contract that she would be paid no more than 3% commission by the seller if my offer was accepted?</blockquote>
That is not for you to decide, the seller and seller's agent have a listing agreement so you would not have the right to change the terms of the listing agreement. The only time she would get 3% is if you had your own buyer's agent where the commission would be split between your buyer's agent and the seller's agent.</blockquote>


I disagree, I AM the one to decide where "my" money goes. It makes a difference to me financially. Again, if the broker and/or seller insist on sticking to the existing agreement, well, I lose. On to the next opportunity.</blockquote>
You may be the one to decide where your money goes, but you have a better chance of getting struck by lightening than changing the terms of a listing agreement that a seller and seller's agent has agreed to. Think about it, do you honestly think the seller's agent will advise the seller to do that when it means less money for the seller's agent? The answer is NO, especially with this greedy seller's agent.



Instead of fighting an uphill battle on doing that, she should get herself a good buyer's agent who will contribute a part of their commission into her escrow for her closing costs.
 
[quote author="mikal1" date=1232343831][quote author="tmare" date=1232343156]You are fighting a losing battle that has been fought a million times before. She already has a contract, are you seeking to nullify the contract she has with the seller? Again, not going to happen.</blockquote>


I've won this battle before, I'll win it again. It's like any battle, you have to pick your spots, you need to have the high ground, there are situations where victory will be impossible, and situations where victory is likely.</blockquote>


So you have sucessfully nulified the commission contract between the seller and their agent and replaced it with your own terms before? If so, did you draw up your own contracts? Use a real estate attorney? or?
 
[quote author="usctrojanman29" date=1232344321][quote author="mikal1" date=1232344008][quote author="usctrojanman29" date=1232343752][quote author="Mcdonna1980" date=1232342642][quote author="usctrojanman29" date=1232341532][quote author="Mcdonna1980" date=1232341316][quote author="SoCal78" date=1232340542][quote author="Mcdonna1980" date=1232339979]If I do put in the offer by myself is she still able to collect the full 6% commission?</blockquote>


Yes. But why would you want to write up the offer yourself when she is already being paid to provide that service for you?



I personally will not work with a dual agent to represent me while representing the other party at the same time. I feel there is too much conflict of interest.</blockquote>


I did not realize that she could collect the full commission if I was acting as agent on my behalf. IR2 can you clarify this? If I'm acting as my own agent can the seller's agent still collect the full commission?</blockquote>
Yes, she would get the full commission if you act as your own agent or you have her represent you.</blockquote>


What if I put in my contract that she would be paid no more than 3% commission by the seller if my offer was accepted?</blockquote>
That is not for you to decide, the seller and seller's agent have a listing agreement so you would not have the right to change the terms of the listing agreement. The only time she would get 3% is if you had your own buyer's agent where the commission would be split between your buyer's agent and the seller's agent.</blockquote>


I disagree, I AM the one to decide where "my" money goes. It makes a difference to me financially. Again, if the broker and/or seller insist on sticking to the existing agreement, well, I lose. On to the next opportunity.</blockquote>
You may be the one to decide where your money goes, but you have a better chance of getting struck by lightening than changing the terms of a listing agreement that a seller and seller's agent has agreed to. Think about it, do you honestly think the seller's agent will advise the seller to do that when it means less money for the seller's agent? The answer is NO, especially with this greedy seller's agent.</blockquote>


Hehehehe, really depends on when that greedy sellers agent last had some Ramen....



Lets face it, your primary motivation is for a deal to happen, right? And a bird in the hand..... So which is better from your perspective, a deal that pays you 3% now, or do you want to wait for, well for what? The chance that another unrepresented buyer will show up and a deal will happen? Is that really better than taking, now, what may be your best payday off this property? Don't you normally have the expectation that you will be splitting the commission? Aren't commission splits the norm? Most deals involve buy side agents?
 
[quote author="Mcdonna1980" date=1232344428][quote author="mikal1" date=1232343831][quote author="tmare" date=1232343156]You are fighting a losing battle that has been fought a million times before. She already has a contract, are you seeking to nullify the contract she has with the seller? Again, not going to happen.</blockquote>


I've won this battle before, I'll win it again. It's like any battle, you have to pick your spots, you need to have the high ground, there are situations where victory will be impossible, and situations where victory is likely.</blockquote>


So you have sucessfully nulified the commission contract between the seller and their agent and replaced it with your own terms before? If so, did you draw up your own contracts? Use a real estate attorney? or?</blockquote>
I'd also like to know if MIKAL1 was successfuly in changing a listing agreement. And the estimate that a RE lawyer would cost less than $500 is funny because if there are counteroffers and other issues (which there almost always are), that legal bill will get into the THOUSANDS very quickly. Plus my understanding is that most RE lawyers arent realtors and dont have access to MLS and CAR Realtor forms.
 
[quote author="mikal1" date=1232344713][quote author="usctrojanman29" date=1232344321][quote author="mikal1" date=1232344008][quote author="usctrojanman29" date=1232343752][quote author="Mcdonna1980" date=1232342642][quote author="usctrojanman29" date=1232341532][quote author="Mcdonna1980" date=1232341316][quote author="SoCal78" date=1232340542][quote author="Mcdonna1980" date=1232339979]If I do put in the offer by myself is she still able to collect the full 6% commission?</blockquote>


Yes. But why would you want to write up the offer yourself when she is already being paid to provide that service for you?



I personally will not work with a dual agent to represent me while representing the other party at the same time. I feel there is too much conflict of interest.</blockquote>


I did not realize that she could collect the full commission if I was acting as agent on my behalf. IR2 can you clarify this? If I'm acting as my own agent can the seller's agent still collect the full commission?</blockquote>
Yes, she would get the full commission if you act as your own agent or you have her represent you.</blockquote>


What if I put in my contract that she would be paid no more than 3% commission by the seller if my offer was accepted?</blockquote>
That is not for you to decide, the seller and seller's agent have a listing agreement so you would not have the right to change the terms of the listing agreement. The only time she would get 3% is if you had your own buyer's agent where the commission would be split between your buyer's agent and the seller's agent.</blockquote>


I disagree, I AM the one to decide where "my" money goes. It makes a difference to me financially. Again, if the broker and/or seller insist on sticking to the existing agreement, well, I lose. On to the next opportunity.</blockquote>
You may be the one to decide where your money goes, but you have a better chance of getting struck by lightening than changing the terms of a listing agreement that a seller and seller's agent has agreed to. Think about it, do you honestly think the seller's agent will advise the seller to do that when it means less money for the seller's agent? The answer is NO, especially with this greedy seller's agent.</blockquote>


Hehehehe, really depends on when that greedy sellers agent last had some Ramen....



Lets face it, your primary motivation is for a deal to happen, right? And a bird in the hand..... So which is better from your perspective, a deal that pays you 3% now, or do you want to wait for, well for what? The chance that another unrepresented buyer will show up and a deal will happen? Is that really better than taking, now, what may be your best payday off this property? Don't you normally have the expectation that you will be splitting the commission? Aren't commission splits the norm? Most deals involve buy side agents?</blockquote>
Believe me, I know what you are saying but the problem is that a lot of realtors are still drinking the koolaid that the realtor association passes out so they will not be as motivated as you'd think they be. Think about it, why are their listing agreements that still expire? Wouldn't the seller's agent get super creative towards the end to try to get the property sold by reducing the commission? The answer again is NO. It is true that the commission are split 95% of the time, but that doesn't mean the seller's agent won't get greedy and try to represent both the seller and buyer to get the entire commission. Here's the other thing to consider, most seller agents will keep the sellers focused on the SALES PRICE (the sellers are already focused enough on it) and not the NET PROCEEDS so the sellers will feel like they got lowballed on an offer that would be 3% lower than it would be otherwise because the buyers arent using an agent and want to get the discount reflected in the sales price.
 
[quote author="usctrojanman29" date=1232344752][quote author="Mcdonna1980" date=1232344428][quote author="mikal1" date=1232343831][quote author="tmare" date=1232343156]You are fighting a losing battle that has been fought a million times before. She already has a contract, are you seeking to nullify the contract she has with the seller? Again, not going to happen.</blockquote>


I've won this battle before, I'll win it again. It's like any battle, you have to pick your spots, you need to have the high ground, there are situations where victory will be impossible, and situations where victory is likely.</blockquote>


So you have sucessfully nulified the commission contract between the seller and their agent and replaced it with your own terms before? If so, did you draw up your own contracts? Use a real estate attorney? or?</blockquote>
I'd also like to know if MIKAL1 was successfuly in changing a listing agreement. And the estimate that a RE lawyer would cost less than $500 is funny because if there are counteroffers and other issues (which there almost always are), that legal bill will get into the THOUSANDS very quickly. Plus my understanding is that most RE lawyers arent realtors and dont have access to MLS and CAR Realtor forms.</blockquote>


Good point regarding the attorney, but I did say "write an offer". Regarding forms, I don't see how that would be much of an issue. So you think that RE attorneys in California struggle to write an offer on a property? Interesting. I'd be pretty surprised by that.



Yes, I've purchased property according to my written offer which included several things that conflicted with the existing, legal agreement between the seller and listing broker. I've paid commission directly to the listing broker at closing, and it was less than the existing agreement specified. And yes, I used a RE attorney for the paperwork (different state BTW, just to be clear).
 
I suggest you follow USC's advice and get a buyer's agent to represent you and have them give you back a portion of the 3% they earn. If you already have the house picked out, a good portion of the buyer's agent's work is done. We had a listing agent do our buy side on the Paso house and we vowed to never do that again. When it comes to your inspection and negotiating anything that arises from that, you REALLY want your own agent representing you and your interests.
 
<blockquote>Believe me, I know what you are saying but the problem is that a lot of realtors are still drinking the koolaid that the realtor association passes out so they will not be as motivated as you?d think they be. Think about it, why are their listing agreements that still expire? Wouldn?t the seller?s agent get super creative towards the end to try to get the property sold by reducing the commission? The answer again is NO. It is true that the commission are split 95% of the time, but that doesn?t mean the seller?s agent won?t get greedy and try to represent both the seller and buyer to get the entire commission. Here?s the other thing to consider, most seller agents will keep the sellers focused on the SALES PRICE (the sellers are already focused enough on it) and not the NET PROCEEDS so the sellers will feel like they got lowballed on an offer that would be 3% lower than it would be otherwise because the buyers arent using an agent and want to get the discount reflected in the sales price.</blockquote>


About the last thing that residential RE sales tends to be about is "creativity". Let s face it, it is primarily about repetition, about doing the same old boring things, consistently, over and over again. Isn't that the basic formula for your "standard" RE agent? Isn't that what they are taught during those formative years while under the tutelage of a warm, motherly broker?



I know I'm not qualifying these crazy, whacky things I'm talking about nearly enough. As soon as a buyer gets off track, starts trying to deviate from the standard process, they are dead in the water unless they've picked a situation where everyone may be/should be pretty eager to get a deal done.
 
[quote author="mikal1" date=1232346231]<blockquote>Believe me, I know what you are saying but the problem is that a lot of realtors are still drinking the koolaid that the realtor association passes out so they will not be as motivated as you?d think they be. Think about it, why are their listing agreements that still expire? Wouldn?t the seller?s agent get super creative towards the end to try to get the property sold by reducing the commission? The answer again is NO. It is true that the commission are split 95% of the time, but that doesn?t mean the seller?s agent won?t get greedy and try to represent both the seller and buyer to get the entire commission. Here?s the other thing to consider, most seller agents will keep the sellers focused on the SALES PRICE (the sellers are already focused enough on it) and not the NET PROCEEDS so the sellers will feel like they got lowballed on an offer that would be 3% lower than it would be otherwise because the buyers arent using an agent and want to get the discount reflected in the sales price.</blockquote>


About the last thing that residential RE sales tends to be about is "creativity". Let s face it, it is primarily about repetition, about doing the same old boring things, consistently, over and over again. Isn't that the basic formula for your "standard" RE agent? Isn't that what they are taught during those formative years while under the tutelage of a warm, motherly broker?



I know I'm not qualifying these crazy, whacky things I'm talking about nearly enough. As soon as a buyer gets off track, starts trying to deviate from the standard process, they are dead in the water unless they've picked a situation where everyone may be/should be pretty eager to get a deal done.</blockquote>
Again, I'm in total agreement with you on a lot of things you said but the problem is that you are going against "the system" that most realtor drones have been brainwashed to follow and don't know anything else (that's why I said it's fighting a losing battle). The problem that you'd run into trying to do what you advise is GREED and misalignment of the incentives for the seller's agent.



But the main point I have that I think everyone will agree with me and Stepping Up is that NEVER EVER use seller's agent to represent you as the buyer's agent!
 
[quote author="usctrojanman29" date=1232347007][quote author="mikal1" date=1232346231]<blockquote>Believe me, I know what you are saying but the problem is that a lot of realtors are still drinking the koolaid that the realtor association passes out so they will not be as motivated as you?d think they be. Think about it, why are their listing agreements that still expire? Wouldn?t the seller?s agent get super creative towards the end to try to get the property sold by reducing the commission? The answer again is NO. It is true that the commission are split 95% of the time, but that doesn?t mean the seller?s agent won?t get greedy and try to represent both the seller and buyer to get the entire commission. Here?s the other thing to consider, most seller agents will keep the sellers focused on the SALES PRICE (the sellers are already focused enough on it) and not the NET PROCEEDS so the sellers will feel like they got lowballed on an offer that would be 3% lower than it would be otherwise because the buyers arent using an agent and want to get the discount reflected in the sales price.</blockquote>


About the last thing that residential RE sales tends to be about is "creativity". Let s face it, it is primarily about repetition, about doing the same old boring things, consistently, over and over again. Isn't that the basic formula for your "standard" RE agent? Isn't that what they are taught during those formative years while under the tutelage of a warm, motherly broker?



I know I'm not qualifying these crazy, whacky things I'm talking about nearly enough. As soon as a buyer gets off track, starts trying to deviate from the standard process, they are dead in the water unless they've picked a situation where everyone may be/should be pretty eager to get a deal done.</blockquote>
Again, I'm in total agreement with you on a lot of things you said but the problem is that you are going against "the system" that most realtor drones have been brainwashed to follow and don't know anything else (that's why I said it's fighting a losing battle). The problem that you'd run into trying to do what you advise is GREED and misalignment of the incentives for the seller's agent.



But the main point I have that I think everyone will agree with me and Stepping Up is that NEVER EVER use seller's agent to represent you as the buyer's agent!</blockquote>


I agree with all of that. I even agree that using a buy side agent who will share their side of the commission with the buyer (to go towards closing costs) is almost always the best way to go. For me to say anything else, without a detailed, intimate understanding of the scenario and the parties involved would be irresponsible. So maybe my comments WERE irresponsible. But my intent was really just to give the OP some things to think about.
 
Many agents right now are agreeing to refund part of their commission to their buyers, but this is different from an agent agreeing to forgo 1/2 of the commission. I agree that you should get an agent and negotiate from their with your own agent.
 
[quote author="usctrojanman29" date=1232344086][quote author="mikal1" date=1232343602]It should be less than $500 to have a good RE attorney write the offer for you. If you really care about your money, and you're paying attention, you will be sure to (at a minimum) write the offer for the amount you want to pay minus the buy side commission (2.5 or 3%).



Now, if you have the cash to cover some additional closing costs, here's another thing that you may want to think about - Write the offer for the amount you want to pay, minus any commission, and pay the commission at closing. So in this scenario, if we assume the sellers contract with the listing broker specifies a 6% commission, but you want to save the buy side commission, you would offer 568k for the property and you would offer to pay the listing agent 18k at closing. But you need to have the $18k to cover this additional closing cost.



You can also play some number games if you like. So in this situation you might say, OK, I'm going to pay the listing agent 3% of the purchase price and the purchase price that I'm going to pay is $568k. So the listing agents commission is $17,040. Or you can say that 3% is way too much to pay and offer less.



The points I'm making is that it's all "your" money, you're the one that has to pay it back, you're the one who has to pay interest for 30-years on any commission that is rolled into the purchase price, you're the one who has to pay taxes based on the purchase price and any commission that is rolled into that purchase price, so don't be afraid to try and keep control of "your" money. It does matter, it can make a significant difference.



Does the listing agent have already have a legal contract with the seller? Sure they do. So what? Will the listing agent insist that everyone stick to the already established and legally binding terms of their contract? Maybe. It is important to ensure that the sellers get a copy of this type of offer, and that they understand what you are proposing. The seller will net the same amount, the broker will net less, but a little Ramen is better than no Ramen. And if you happen to come across a broker that has even a passing clue as to what a "fiduciary" is, well it gets a bit tricky to try and reconcile a refusal to modify the existing terms simply because they're going to net less.</blockquote>
She doesn't need to spend money by getting a real estate attorney, she should get her own buyer's agent. A good real estate agent will assist her in navigating through all the paperwork and looking at all of the comps and listings to determine what a fair price to pay is. If she has already picked the property out and is fairly certain that she will buy it then she should be able to get a buyer's agent who would be more than happy to contribute some of his commission towards her closing costs IMHO.</blockquote>


I have to go with Mikal on this one.



You do not need a buyer's agent.



IMO, a buyer's agent represents the interest of the seller more than the the interests of the buyer. The agents only get paid if the deal closes and it is in the best interest of the buyer's agent to get the buyer to offer as much as possible in order to facilitate closing.



No one in my family has used a buyer's agent for the last ten or so properties we have bought.

It is none of the buyer's business what the commission arrangement is between the seller and the listing agent. It is their contract.



Of course the buyer needs to take into consideration that there is one less commission to pay in the deal and the buyer lessens their offer by the 2 1/2% or 3%. That is the advantage to not having a buyer's agent.

Don't try to be too smart or control more than is in your control. Make your offer with the knowledge that the listing agent will lower their commission in order to close the deal or the seller is going to quickly take the home off the market and list with a more intelligent agent as soon as is legally possible. But, don't try to involve yourself in the seller's affairs or contracts.



I know a great attorney who will look over the purchase contract and charge a heck of a lot less than the buyer's agent. And I think he will do a much better job of representing your interests in the purchase contract. I have purchased without having an attorney look over the contract and I have purchased with an attorney looking over the contract. The end result was the same, but in hindsight the $500 fee is more than worth the peace of mind.



To simplify, your business in your offer. That is it. Make your offer with all the information you can obtain, and keep you nose out of business which is not your concern.
 
One more thing.

It seems to me all you should care about is paying as little as possible.

Why should you care who makes what?

If you pay $500,000 and the agent gets 6%, isn't that better than you paying $600,000 and the agent gets 3%?

Keep your eye on what you can control.
 
[quote author="Mcdonna1980" date=1232339800][quote author="tmare" date=1232338864]Absolutely not. You can write the offer yourself with just a bit of research. You can also ask that you choose the title company and once you have an accepted offer, they will pretty much do the rest for you. We bought our house without an agent involved in any part of the transaction. You can also get a realtor, since you aren't the one paying the commissions. Either way, what she is proposing only makes sense for her.</blockquote>


Aren't I in fact paying for the commissions since the seller pays the agents in turn with my money? My rationale is if I put in the offer that no commission will be paid on the buyers end, the seller will be more likely to accept a lower price from me.</blockquote>


An offer to purchase usually includes no language regarding commissions. And why should it?
 
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