An experienced and professional Real Estate Agent deserves everything that they earn from a transaciton. Inaddition to that, they have to pay income taxes and insurance and they is all after they split a portion of it with their Broker. There are also RESPA guidelines concerning referal fees and payments to non-licensed individuals.
You get what you pay for - there are 25000 or so agents in metro Atlanta - about 1000 are willing to provide you with limited service and a rebate.
Good luck finding one with any Northside knowhow, sales talent, or negotiating skill - unlike Hank, you'll inevitably meet timid, poorly trained, weak agents who are willing to pull their pants off to please you...
Why donâ€™t you just represent yourself and keep it all?
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Financing Kentucky One Home at a Time
No, Really, I don't mind the praises, or telling it like it is regarding the abilities of the typical agent (and the kind that give thier commission away are beyond pathetic - then again, thier just proclaiming their worth) - but the pull your pants down thing - that's a bit much.
The whole point is that any buyer broker worth having will bring real value and not need to share his/her personal commission! Just think about it - if your agent is so desperate for a cleint that they won't protect his/her own commission, what makes you think they will protect yours?
I assure you, when investing in real estate the wise move is to look for real value and quality when selecting the person who will represent and advise you - avoid the short term perk of a rebate.
I routinly save my clients many times my "seller paid commission fee" off the price of the property - and when it comes to helping my client avoid buying a home (including new homes) with serious design and construction flaws the savings to thier future finances can easily range to the mid to high 5 figures.
Now I must address Lees remark that I just saw. I know Lee has some sort of personal infatuation with Hank, but I think that referral comment was totaly inappropriate. I agree, most agents are not too impressive, and most can't bring a single thing of value to the table that 20,000 other agent/Realtors can, but there is a much better way to say that.
To disagree, I know several agents who know quite a lot about the Northside market. As to bringing real value and a demonstrable advantage to the client, I will match my services, benefits, client protections, and transaction outcomes with any agent in Atlanta, including Hank.
Have you ever heard of a home seller trying to sell his home himself? They think they are saving the commission by doing the work themselves. In reality, the buyer knows the seller is saving thousands of dollars in commissions. So the buyer makes an extra low offer, because he thinks that he should get the commission discount â€“ not the seller.
The buyerâ€™s strategy will be to overcompensate for the sellerâ€™s discount and the buyer will end up with a better net price overall. The seller would have had less work and made more money - net, if he would have hired a full service, full commission broker. You get what you pay for. The same principles apply to discount listing brokers - Everyone knows the seller has used a discount broker â€“ and the buyer will try to over compensate for the discount. The advantage ends up going to buyer â€“ not the seller with the discount.
Now, you, as the buyer, are on the reverse side of the transaction. You are the deal seeking buyer, looking for a rebate/discount broker. The same process and thinking applies here. You should save the commission. But in reality, everyone knows YOU are using a Discount Broker! So as is typical human nature, the seller will turn the tables on you. They will try to overcompensate for your discount.
Be Careful with Discount Brokers. Your own actions may jeopardize your chance of a rebate. You have to follow their policies and procedures. Can you imagine how upset you will be when you get to the closing table? â€œSorry, Abhi, you failed to follow our procedure. NO REBATE FOR YOU!â€
Another reason you may also want to be concerned about discount brokers â€“ they may prefer easier deals with less negotiating. You get a small rebate at the closing, but you paid significantly more for the home than anyone else would have. Again, AGENTS AND HOMEOWNERS KNOW YOU ARE USING A REBATE/DISCOUNT BROKER! They use that knowledge to their advantage. They will negotiate a higher price from the buyer because the buyer is concentrating on that rebate. Thatâ€™s what you want, right?
Other things to consider and think about before choosing discount brokers:
Do you have a home to sell first? Are you buying your new home with cash, or do you need financing? What about home ownerâ€™s insurance? Are you going to buy title insurance? Will you need a closing attorney? Better Homes and Gardens Real Estate Metro Brokers is a full service Broker and they offer one stop shop convenience for all your real estate needs.
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Isabel Elsesser, Realtor, Agent, Alpharetta, GA What I do as a realtor is protect your best interest in Negotiating and reviewing the terms of your contract. The builders contract protects the builder not so much the buyer.
I explain what a standard feature should be in a new house.
For a more detailed list of what a buyers agent does for the buyer contact me at firstname.lastname@example.org. Please take a look at my video at http://www.isabelsnewhomes.com
I am a Broker/Owner/Investor and ICC Certified Building Inspector who lives and works in the area, and I make sure my clients get not only builder bonuses, but agent bonuses as well.
Reach out to me for more information about how I can assure you get the best deal possible and a sound well built home as well.
Check out one of my 12 websites below, where you can search homes on my Dual MLS search engine. I also have info on properties not listed in the MLS.
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As REALTORs we have very strict guideline in regards to rebates, referral fees and commission splitting. It called RESPA - Real Estate Settlement Procedure Act.
Not all managing brokers permit their agents to involve the use of rebates.
The good news is that my broker does permit this practice and Alpharetta - Johns Creek is where my team and I specialize in home sales.
Invite to visit our website; http://www.AlpharettaHomeClick.com
Call us to arrange a time to meet and learn more.
Robin Lanese, REALTOR,ABR, CRC, REOS
Solid Source Realty, Inc.
The Atlanta Housing Source Team