 PLEASE help me decide which house to live in!! Thank you!? |
Hello Everyone,
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*househunter* | Can A Listing Agent get the whole commission if he is listing and selling a home? |
I really want to buy this home and I was wondering if I can go directly to the listing agent and for him to represent me. |
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Landlord
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The agent does get the whole commission if you do this. However, they are still legally bound to but the interest of the seller above you. You are much better off with your own agent. |
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Waqar
 |
Yes however that's like having your spouses attorney "take care" of your side in a divorce case when your spouse is the one paying him.
Find yourself your own agent and check the DRE web site to assure he/she has over 10 years experience and does Real Estate full time. |
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Bibs
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Yes he and his employer can get the whole commission, but he already represents the seller. When a real estate broker talks to a buyer he represents the seller legally and in fact. When he talks to the seller he will be representing you, not legally you but in fact. He has the duty to bring the buyer and and seller together.. If doesn't do this he will not get paid. He is prohibited from giving to you derogatory information about the property, or the seller's financial condition. |
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farina
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I suggest that you get your own Realtor to represent you. Many states do not allow the same agent to represent both parties and when allowed, also both seller and buyer need to agree in writing. Frankly, that would not be convenient for you since an agent representing both parties can not provide either one with financial advice. Besides, as a buyer, it should not cost you anything since typically the seller pays all commissions. |
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skirt_14
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The laws will vary from state to state. Your agent should know. If he does it and it's illegal in your state, then he will be the one wearing orange. |
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bonsai
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No problem, you just sign a waiver. But some agencies don't do it. The agent still gets at best 60%, the rest goes to the broker or brokers.
See, agents don't get any money, unless the brokers get it and distribute it to them, The brokers are the ones who get rich. |
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Ross
 |
The whole commission will go to the agents broker, the broker will pay the real estate agent. The amount various, depending on the arrangement the real estate agent and broker have. The real estate agent will probably get between 50% and 70%.
How you are represented will vary from state to state. Where I am I can represent both buyer and seller equally. Either as an buyer and sellers agent (fudiciary agreement with both) or as a transaction broker representing just the deal. |
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Amanda H
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You can, and yes he'd normally get basically double the commission.
For this reason I would either
A) get my own agent who is only representing ME
or
B) Ask him to take a commission cut in order to get a better deal on the house. He probably gets 3% for listing and 3% for selling-- so ask him to take a total of 4% to sweeten your offer-- and you could save 2% off the house list price.
Also check out www.redfin.com-- they do this on their own, refunding you the difference after closing-- but they only work in certain areas. |
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J.H.
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The listing agent will get the whole commission. The listing agent can not represent both you and the seller, it is a conflict of interest, he can only act as a transaction coordinator.
If you want an agent to only represent you, you will need to get your own agent.
If you have already been working with an agent, stick with him or her. |
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Expert Realtor
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You can...but he won't represent you...his fiduciary responsibility rests with the sellers.
He isn't going to give you a discount for doing both sides b/c he has to babysit not only the seller side but the buyer side, and therefore, will earn the full commission.
Why don't you get your own Realtor?
At least get the unbaised representation that you are paying for anyway...it won't change the price of the home. |
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ram
 |
I'm an agent for manufacturing company, last year I sold one product to ABC company, and I got a commission for the product I sold, this year that ABC company gave one more order to the manufacturer without informing me, did I get the commission for this, Please inform me ,
Thanks & Regards,
RAM |
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