Recently, I saw this response to a question that realtors often receive regarding a "for sale by owner" and a buyer's agent. I think its a little agressive but my local experience has shown that often seller's will work with a buyers agent.
DEAR BOB: I usually agree with 95 percent of your excellent advice. However, I strongly disagree with your recent item where you said a home buyer might have to pay his or her buyer's agent if a home is purchased from a "greedy" do-it-yourself home seller who refuses to pay the agent half of the customary sales commission. Home sellers have the right to sell their homes alone without having to pay a sales commission. Why don't you mention the "greedy agents" who charge a 6 or 7 percent sales commission just for filling in a few blanks on a sales contract? --Zygmont C.
DEAR ZYGMONT: Most "for sale by owner" (FSBO) house and condo sellers are only too happy to pay a sales agent who produces an acceptable buyer 50 percent of the customary sales commission, usually 3 percent of the sales price.
However, some "greedy sellers" don't understand the benefits of having a buyer's agent represent the buyer. Those buyers' agents do double-duty of guiding the FSBO sale to a successful completion. Yet, some FSBO sellers stubbornly refuse to pay the buyer's agent even half of a normal commission, so then the buyer might become obligated to pay his or her buyer's agent.
As for your comment about "greedy agents" who charge 6 percent or 7 percent sales commissions, are you aware how sales commissions are split among sales agents and their brokerages?
Usually, the listing agent and the buyer's agent receive half of the gross sales commission. Then half of that portion of the commission goes to the brokerage. Of course, the exact split of the sales commission depends on each agent's agreement with their brokerage.
The result is what seems to you like a huge sales commission is split four ways and the agents really aren't as "greedy" as you might think.
DEAR BOB: I usually agree with 95 percent of your excellent advice. However, I strongly disagree with your recent item where you said a home buyer might have to pay his or her buyer's agent if a home is purchased from a "greedy" do-it-yourself home seller who refuses to pay the agent half of the customary sales commission. Home sellers have the right to sell their homes alone without having to pay a sales commission. Why don't you mention the "greedy agents" who charge a 6 or 7 percent sales commission just for filling in a few blanks on a sales contract? --Zygmont C.
DEAR ZYGMONT: Most "for sale by owner" (FSBO) house and condo sellers are only too happy to pay a sales agent who produces an acceptable buyer 50 percent of the customary sales commission, usually 3 percent of the sales price.
However, some "greedy sellers" don't understand the benefits of having a buyer's agent represent the buyer. Those buyers' agents do double-duty of guiding the FSBO sale to a successful completion. Yet, some FSBO sellers stubbornly refuse to pay the buyer's agent even half of a normal commission, so then the buyer might become obligated to pay his or her buyer's agent.
As for your comment about "greedy agents" who charge 6 percent or 7 percent sales commissions, are you aware how sales commissions are split among sales agents and their brokerages?
Usually, the listing agent and the buyer's agent receive half of the gross sales commission. Then half of that portion of the commission goes to the brokerage. Of course, the exact split of the sales commission depends on each agent's agreement with their brokerage.
The result is what seems to you like a huge sales commission is split four ways and the agents really aren't as "greedy" as you might think.
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