Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
20+ Years Experience
9am till 9pm 7 days
Good luck in your search.
It is understandable.
Buyers today seem to have adopted a 'religion' that compels them to ask and keep on asking and ask for more until someone says, NO. From all the silly stuff on the inspection report to the furniture grab, buyers practicing the principles of 'NO' are obligated to keep on asking. Home owners need to understand that "NO" is an option also. However, they need to say NO the American way so the practitioners of NO don't get offended.
It's surprising that these buyers practicing the "NO" religion, NEVER reveal their intentions to rob their agent. They tend to prefer the 'ambush.'
A real professional will look you straight in the eye and give you exactly what you need.
A non-blinking, unwavering - NO!
Maybe even a He** NO!
Let me assure you, you will lose the house.
You will lose your inspection money.
You will lose the appraisal money
You will lose your deposit.
And if you had any respect, you should lose that also.
Let me be clear. agents DO have such programs. I have one. If that is your intention tell me so and I will enroll you in the "Buyer Elite Plan" that delivers exactly what you want. Honesty is always the best policy. Say what you want. Reveal your intentions. You would be surprised how accommodating real estate professionals can be. However, betrayal, as you suggest, will have consequences.
What you may want to consider is ambushing your mortgage broker with your rebate ambush. They have the same compensation structure.
How about the home inspector you will hire.
How about the folks who will have your possessions on the truck, they will be also receptive to your rebate ambush.
Let's not leave out the dentist, the taxi driver, your heart surgeon, your lawn guy, your attorney, accountant, and the roofer, and don't overlook the checkout line at the grocer. You can actually do it there.
Now, don't overlook the obvious. Tell your employees you want 1% of their paycheck so you can buy furniture. Perhaps you will be delighted when your employer ambushes you with a political contribution opportunity you can't refuse. Hopefully the message is sinking in. Of course, if you truly are unworthy of the money you are paid, unworthy of the agreed upon compensation, I can understand your confusion and delima.
The percentage usually accepted? Go for 100%. The 'NO' will be just as clear.
Now, there is another way to achieve exactly the same thing (a common practice of mortgage brokers and attorneys) without revealing your dark side. Of course I'll not share that.
Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
One last thought...right now it's a sellers market. Buyers are a dime a dozen. Personally, I have to limit the number of buyers I work with so I can keep my "exceed expectations" service level up. I have more buyers asking me to help them every day than I can handle and most good agents are in this same position. Today, for every single home that is on the market there are at least 8 buyers who want it. Why would any agent chose to work with a buyer who wants part of the income they are to earn when there are so many other buyers out there to chose from? In this market, cash buyers are still competing against other cash buyers to get the one property that's available. Conventional loan buyers with more than 20% down are next in the preferencial list, then Conventional buyers with 5% to 20% down, FHA buyers and finanlly VA buyers. IT takes patience and skill to get a conventional buyer's offer accepted in most price ranges. I have two cash buyers and we're having trouble finding them properties they can get their offers accepted on. If you have an offer that is accepted, go THANK your Realtor! It's not easy to present an offer on a property and have it accepted these days so if they presented your offer in a light that got it accepted, you should be getting them a gift! Couint your blessings you have an agent that knows how to present an offer that got chosen over anywhere from 8 to 25 offers!
I've been following your questions on Trulia the past several days. It sure seems like you are very interested in purchasing a home, and you also want to make sure you are receiving the best possible deal. My question to you is, when have you as a consumer gone to far to try to get the best deal?
In a previous question, you noted that you wanted to work with someone who is willing to rip-off others. And in this question, you are asking if agents regularly give a portion of their fees so that you can buy furniture.
Honestly, you are going to have the best experience, receive the best service, and get into a home you love, by working with someone who has extremely high standards when it comes to working with their clients. And to receive high standards you'll want your realtor to receive their fair compensation.
Remember, you already get to use an agent for free. The seller pays their professional fees. So take advantage of that, and pick who you think knows their stuff and can even get you into a home in this competitive market.
Happy House Hunting!
Some will be willing (if legal in their state) to rebate a portion of their commission to you. Others (myself included) will be highly offended to have you ask for a portion of the commission that I earned.
Either way, I strongly recommend that you bring this up at the beginning of your relationship... (that you'd like a percentage of the commission rebated)... so that you don't waste the Realtor's time, and that you don't have your time wasted.
What percentage is usually acceptable for the Realtor to rebate toward the purchase of your home, or furnishings... and stuff? Zero percent, in my opinion. The Realtor is not buying the house, he is not buying your furniture, or backyard barbecue... he's being paid for his services.
I do not discount my fees. If I do, it is because a client has sent me numerous other referrals, or they have bought multiple homes from me.
Sometimes I will cover the cost of a home warranty or a home inspection, but that is no more than $500.
If an agent is willing to cut their commission that much, they are desperate for a sale, which makes me very concerned about why they feel they are worth so little.
You get what you pay for.
For the sake of this discussion, I will assume you are employed and I will further assume you would not appreciate it if your boss told you about half-way through the pay period that he/she will only pay you a fraction of your wages and you would get nothing if you don't agree to that. In the alternative, let's assume your boss tells you in the beginning of the month that he'll only pay you a fraction of your wages, but he still expects you to give it your all and work as hard as you do when you get paid in full.
Based on your earlier question about how to select a good buyer's agent, I know you want an agent who looks out for your best interest and gives you his/her best and I think your agent will deserve a full commission.
Apply the golden rule (do unto others as you would have them do unto you) and you'll be fine. Anything else is asking for trouble.
If the Realtor is really working for you and helping you find the house you want then they should be compensated for the job they do.
Here's what I know to be true, agents who rebate commission do so because their weak, hungry for any business and don't have any real idea what their doing or even supposed to be doing. It's all they have to offer and if you choose to work with a discounting agent you'll get what you pay for.