Home Buying in Cheshire>Question Details

Readytomove, Home Buyer in Cheshire, CT

I need a broker in CT willing to give a rebate.

Asked by Readytomove, Cheshire, CT Wed Oct 28, 2009

I'm ready to make an offer so most of the heavy lifting is done. Easy $3000 for at most 5-6 hours of work, that's including any back and forth in the negotiations and inspection. This is my 4th property and I negotiate contracts for a living so can and willing to go unrepresented. Remember 2.5% of $0 = $0

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So you found and looked at some houses on your own so "all the heavy lifting is done"?
You've only just begun.
Good luck finding quality representation on those terms. No self respecting or successfull broker would ever work for you and then pay you their commission for the pleasure.
Web Reference: http://www.homesbyminna.com
2 votes Thank Flag Link Wed Oct 28, 2009
Sorry Sean: ILLEGAL in Connecticut. Only someone with a real estate license can get a referral fee or part of the commission. You will have to move to another state!
Web Reference: http://www.CarlGuild.com
0 votes Thank Flag Link Thu Apr 21, 2011
The answers from the brokers here were crazy. You gals are nuts! In any other market people don't act this crazy when you try to pay what you (rightly or wrongly) think what someone's time is worth. The commission is worth $X, the question pretty clearly was: are you willing to split some of that back to me in return for getting the remainder.

And: legal in Connecticut.
0 votes Thank Flag Link Thu Apr 21, 2011
Dear Readytomove- really now, the heavy lifting has been done and so you want an agent to put their license and insurance on the line for you because you are willing to pay them a reduced commission. In the case of a listed home the seller pays both commissions so you therefore are home free.
Web Reference: http://topbrainerdagent.com
0 votes Thank Flag Link Thu Aug 26, 2010
There is no way that a closing is going to take 5-6 hours to complete, they take much longer. An inspection can easily take up to three hours by itself. Even if you put in an offer "on your own", you will still be represented- by the Listing agent who would be acting as a dual agent and not giving you 100% representation.

You say this is your 4th property- how can you negotiate a contract for a real estate transaction unless you are a realtor or attorney? Surely you would know from your homebuying experience that an agent can only accept compensation from their broker.

It is clear that you need Buyer Representation as you are not aware of just how involved a real estate transaction is.
0 votes Thank Flag Link Thu Oct 29, 2009
Dear Readytomove,
I can't speak for my friends, Nancy & Jay Henry, of Ronald J. Henry Company in Fairfield, or what they would be willing to negotiate with you, but I have sent your posting to her.
Nancy's email is: nancyhenry2000@yahoo.com.
Their family have been in business in Fairfield since the 30s I think, but I know the experience they bring to
any purchase or sale in real estate is beyond compare.
Best of luck,
0 votes Thank Flag Link Wed Oct 28, 2009
Unfortunately rebating the Buyer in CT is against the law.. Only someone licensed by the State of CT can make a claim to any part of the commission. If your looking for a rebate (or an agent to work for free) then you should probably hire a redfin agent. But unfortunately you won't find any in Connecticut! GOOD LUCK!

(BTW - The seller pays the commission... If you want the house cheaper, hire a good agent and he should be able to negotiate it lower for you, AND he won't charge you any extra! ;)
Web Reference: http://www.carlguild.com
0 votes Thank Flag Link Wed Oct 28, 2009
I'm confused....as a buyer, you don't have to pay commission. The commission is agreed to at the time the listing is taken. That is the amount that the buyers agent receives. The heavy lifting only begins at the signing of the contract. Much goes on behind the scenes that you...the buyer doesn't see.

I would be happy to help you.l.. Give me a call at 860-916-2744

0 votes Thank Flag Link Wed Oct 28, 2009
So you want a broker to work for free? Trying to understand where you are getting at.

Any input would be wonderful. Thank you!
0 votes Thank Flag Link Wed Oct 28, 2009
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