Home Buying in 44107>Question Details

Househunter2…, Home Buyer in 44107

Are there any buyer's agents or brokers in the Cleveland area willing to rebate commission?

Asked by Househunter2010, 44107 Wed Jun 23, 2010

My wife and I are current looking for a home. We both own property now and are comfortable with the home-buying process. I will identify houses I wish to view, I've been pre-approved for my mortgage (conventional, 20% down) and I believe I have a good, realistic understanding of the market and current home values in the areas I'm considering (Brecksville, Independence, Broadview Heights, Lakewood, Rocky River, Westlake). Our range is $250-$350k. I've seen some online only brokers that offer anywhere from 20-66%, but I'd prefer to deal with someone local.

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Wow, this thread came back from the dead.

As an update, I did find an agent who was willing to rebate 40% of his commission. I provided lists of houses that I wanted to see, he arranged the showings.

In the end, I found a for sale by owner home on my own. The home was excellent condition, in my desired location and priced significantly below comps. I handled negotiations directly with the previous owner, prepared the first drafts of the purchase agreement and had the agent review. I paid the agent a negotiated fee for that service. The closings were handled by a title agency I selected.

Not all buyers require the same level of service. Not all buyers need the "best".
0 votes Thank Flag Link Fri Mar 29, 2013
Househunter 2010,

I am curious to find out the name of the agent that was willing to rebate 40% of his commission in the Cleveland area. I am in a similar situation as you were in 2010. I've seen many agents and firms offering between 1.5% and 2% as a rebate but many of these firms only serve specific areas and the Cleveland area isn't one of them.

If any agents in the Cleveland area would like to rebate a portion of there commission let me know and I would be willing to discuss things with you.

jgulden_12@yahoo.com
Flag Sat May 25, 2013
Househunter 2010,

I am curious to find out the name of the agent that was willing to rebate 40% of his commission in the Cleveland area. I am in a similar situation as you were in 2010. I've seen many agents and firms offering between 1.5% and 2% as a rebate but many of these firms only serve specific areas and the Cleveland area isn't one of them.

If any agents in the Cleveland area would like to rebate a portion of there commission let me know and I would be willing to discuss things with you.

jgulden_12@yahoo.com
Flag Sat May 25, 2013
Any realtor that rebate there commission doesn't value them sell very well! Ask you self this question if a realtor is willing to value him sell low enough to take a lower commission, then what do you think this person will do for you at the negotiating table? When I am fighting for my clients saving them thousands of dollars I expect to be paid what I deserve! If you haven't sold you home yet or any one else out there! Listen is very simple NO GAMES TO WASTING TIME! The longer sellers wait the less money you will get for you home!

CONTACT ME ANYTIME 24/7 FREE CMA EMAIL KNOW THE PRICE THE FIRST TIME!
Robert Erney
Cell (630)809-7224
Office (440)572-3100
rob_erney@msn.com
http://rob_erney.russellrealty.com/

If your home is listed and people are showing, but no offers! The market is telling you the price is to high! If your home is listed and and no one shows it! The market is telling you its priced way to high!
Some realtors will take any listing and list it at whatever, they do not care they have another sign and may get buyers from it! I do things a little differently when I take a list i make sure it is price to sell, no games! Ask yourself one question, after this home sells who much is it worth? This is what you should list a home for being fair! The longer you wait the less you may get for your home!
Every listing I have taken SOLD! Passive marketing = Sitting there hope it sells and what i do ACTIVE MARKETING = Knocking on doors + calling 25-50 a day getting you offers FAST!

Look for yourself what is happening in your area!
Virtual Market Analysis:
http://ROB_Erney.russellrealty.com/listings/VMA.php

CONTACT ME ANYTIME 24/7 FREE CMA EMAIL KNOW THE PRICE THE FIRST TIME!
Robert Erney
Cell (630)809-7224
Office (440)572-3100
rob_erney@msn.com
http://rob_erney.russellrealty.com/

Start your Real Estate portfolio today and make it easy on yourself!
http://ROB_Erney.russellrealty.com/myaccount/get.php?dhf=1&a…
0 votes Thank Flag Link Wed Mar 13, 2013
I'm guessing that at this point you may have found your ideal home but, If I'm reading your question correctly...you are asking, from a buyers perspective, will an agent reduce/rebate their commission. Correct? The answer should be yes, it should always be yes. On the buy side of a transaction you should never incur a fee. Broker fees are always paid by the seller. As a seller you should always be willing to pay for the service that your agent offers as they are the ones taking the financial risk off-the-cuff in terms of marketing and presenting the property but, as a buyer you should never be expected to compensate an agent.
0 votes Thank Flag Link Wed Mar 6, 2013
Hi Home Buyer,

My take on the the commision is, if you want the best you pay for the best. I know everyone, wants to get a good deal, but not on the service you can get from me. They will say they will give you good service, but in the back of there mind they will be thinking of there commission they are not getting.

I will give you the top notch service, you can contact me at any time, put me on speed dial. Please contact me. The MIP rates will go up in April 2011.
You can contact me at.
rebakaraoui@howardhanna.com
216 287-9817
216 696-4800 ext. 48
0 votes Thank Flag Link Wed Mar 2, 2011
I am happy to provide a full service and credit you for using it.
0 votes Thank Flag Link Wed Nov 3, 2010
Househunter2:

While I don't agree at all, I do respect the fact that you have your opinion. I wish you luck. Apparently there are people who will do that for you, and that is what you were asking for anyway. Doesn't matter if I would do it or not! I value myself much more than that. I work harder than the average person for my commission. I do make "exceptions" periodically, depending upon a specific circumstance. If I lose clients/customers for this reason, well, life goes on! Many of the "services" you list just cannot be separated out by a good Realtor. Just can't. Thanks for your response.

Tari
0 votes Thank Flag Link Thu Jun 24, 2010
Househunter it has not started in Ohio yet but in Califrnia there are some cases wher an agent has been sued for offering a legal incentive to purchase a property. The buyers claim they were induced to purchase because of the rebate. I know you are in NE Ohio and I am in SW but I would never do a rebate.
0 votes Thank Flag Link Wed Jun 23, 2010
Ms. Sweeney,

Perhaps I wasn't clear. This wasn't meant to start a philosophical discussion on the merits of a full service agent. But since you've brought it up, the following is my thought process.

I also work in an industry where my fee is based on a percentage. When clients want a full menu of services, they'll pay as much as 10%. When they need less service, the fee is adjusted accordingly, sometimes 2-3%, but the client obviously won't be getting things they didn't ask for.

When I go to McDonald's, I can order a Big Mac and a pop, or I can order a Value Meal. If I get the Value Meal, the fries aren't "free", the cost is built into the cost of the meal.

Of course as a buyer I pay the fees, if the fees were lower, basic economics dictate that the price of the house will be lower. (Granted, in a multiple offer situation this may not be the case, but the houses I'm considering are not in that category).

An agent has a traditional set of services - presenting neighborhood information, finding houses, determining market values, evaluating condition, showing houses, preparing a contract and negotiating on my behalf (have I missed any?). I believe I can handle the first four with minimal assistance and through my experience negotiating contracts, can assist with the latter. I've lived in the area, I've bought real estate, I work in the construction industry.

What I'm proposing is a reduced set of services for a reduced fee. Nothing more, nothing less.
0 votes Thank Flag Link Wed Jun 23, 2010
Please check out my web site http://www.BobZimmer.net, I would be happy to provide full service with a credit to the buyer.
0 votes Thank Flag Link Wed Jun 23, 2010
Maybe you are from a city/state that you, as a buyer, pays for the buyers' agent? We do not do that here. Our commission is taken from the seller's commission. Of course, a buyer "pays", to some extent, when they buy the house for a specific price. But, you do not directly pay the buyers' agent.

Why would you want an agent who would rebate their commission? If I can't work for my commission, I can't work for you to negotiate a good price as a buyers' agent. I am not sure I am understanding what you want? I work for a living. I don't get my commission until the house has transferred - so I work for however long, and through whatever happens, essentially, for "free" - until the transfer when I get paid. If I show 50 houses, and then buyer gets another realtor, or buys a FSBO, I have just given up all that time for "free". What other job do you know that this happens?!

Is this what you are asking? I am glad you are knowledgeable about buying and selling. It is to all our advantage that you have a handle on the market, especially these days. Makes my job, and yours, easier. Education in buying and selling is a GOOD thing! I am always grateful that my buyers and sellers have done their "homework!"
0 votes Thank Flag Link Wed Jun 23, 2010
Dear Househunter2 - I'm not exactly sure what your question is. If you would like to give me a call, I would be happy to discuss this with you further. I am a full time licensed Realtor with Keller Wiliams. You can reach me on my cel at 216-403-0501. Thank you.
0 votes Thank Flag Link Wed Jun 23, 2010
I am an agent for Keller Williams. I live in Lakewood and work the west side. My email address is CjTriv@kw.com. Email me if you would like to talk more.
0 votes Thank Flag Link Wed Jun 23, 2010
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