Re: Seller typically pays both sides - Saab General Bulletin Board - Saabnet.com
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Re: Seller typically pays both sides
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Posted by James [Email] (more from James) on Mon, 28 Mar 2011 08:37:20 Share Post by Email
In Reply to: Re: Seller typically pays both sides, dmz789qqq, Mon, 28 Mar 2011 07:50:52
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My understanding is this: In the end, if your offer is accepted, that is what you pay (+ associated legal/closing fees etc)... What the seller gets is your offer less the commissions paid to the agent(s). They will have signed a document when agreeing to work with their agent which sets out the commission details wrt 1 or 2 agents... typically in the case of 1 agent, the assumption is that the 1 agent "represents" both + gets a higher commission... there are of course difficulties possibly associated with that... If you want to do all the negotiations + paperwork, maybe you can negotiate with the agent + depending on their personality etc, they might go for that if it helps make the sale? depends on how hot the property/market is... if the market is not stupid (like we had here for many years, eg 20+ hail mary offers, all over asking, at a fixed deadline, was very common), why not present a low offer that you are happy with (leaving room of course) and negotiate hard with their agent? point out that you will do the leg work on your end + leave it up to the seller + their agent to work out that 2.5%? There certainly are some "variable fee/variable service" real estate agents out there, though I've mainly heard of that from the seller's perspective (ie you do all the marketing work, they provide things like MLS listing + perhaps paperwork + nominal fees)... I can see that as a natural adaptation for a buyers agent... why not ask them?

I'm no expert though... we used a buyers agent, and imho, her searches weren't much added value (these days everyone has access via the web), but her advice wrt specific inside knowledge of other sales in the area + doing the paperwork for us, was of significant value...

James...

posted by 67.158.6...

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