Buyers do not customarily pay for the services of their agent, who is normally paid by the seller, as specified in the *listing contract*, a legally binding agreement.. An arrangement as you describe would constitute a infringement of the terms and intent of the listing contract by co-opting fees designated *by the seller*, who is paying them, to the cooperating broker and agent by a binding contract. This kind or practice is prohibited by the REALTOR Code of Ethics,
Don't be discouraged by all the stuck-in-the-mud brokers who are so terrified of change and flexible business models that they get their panties in a twist anytime somebody mentions the word rebate. If you need a lot of help, you should pay a fair price for that. If you are an experienced buyer needing only minimal representation, you can easily find enlightened, intelligent, experienced, and skillful brokers willing to work with you.
Any agents or brokers who try to demean the professionalism of other agents willing to offer customized fee for service models are simply showing their true colors and should be avoided at all costs. If they're not worried about the competetiveness of agents offering rebates, then why are they so angry?
There are very few jobs where one can work hard, daily with the utmost diligence and not earn one penny for a year or even more! And yet, that happens to us. Sometimes a client who weâ€™ve worked with will decide that they canâ€™t actually afford to buy what theyâ€™ve dreamed of â€“ after weâ€™ve shown them 50 or 60 properties. Sometimes they decide on another town, again â€“ after seeing many properties. Sometimes we drive to dozens of homes, showing properties and writing offers for our clients and it just doesnâ€™t work out. We do not earn anything for that work.
We also may have a long relationship with the sellers of a property, where it may appear that in 2 months weâ€™ve sold a home.
I think itâ€™s important to point out that, while it looks like Realtors may earn a large commission on a single sale â€“ most people have no idea what went into the experience and expertise, the many properties theyâ€™ve shown or the months the Realtor has been sending comparable sales to the sellers and in discussion with sellers as to how to best present their property for sale.
And then there is our liability. We carry expensive insurance that helps protect us against lawsuits, but it doesnâ€™t cover everything. Iâ€™ve never been sued, but I worked for a company where the manager used to talk about â€œwhen,â€ not â€œifâ€ weâ€™re sued.
We pay for marketing ourselves and the properties we list for sale. We pay for fees to the local, state and national associations and membership to the multiple listings we can access, and our key codes to let you into the property. It would seem like offering a 50% â€œdealâ€ for doing our part in obtaining your property is fair, but when you look at the whole picture â€“ that commission youâ€™re talking about on a $200K property is a small compensation for all of the work that will go into the whole process.
If you don't want to pay your agent, get your own license.
Any one Shi offers you this deal is not a professional.
1. Finding properties is not where the skill comes in. It's once you get the property
2. it's NEVER as easy as you outline here, because the agent has to cover his/her liabilities so they aren't going to submit an offer you wrote, and they have to review all the documentation regardless of your involvement
3. Why would you try to do what someone who's a pro already knows how to do much better than you when you don't even have to pay for it?
4. A knowledgeable and experienced agent will save you more than the rebate you ask for.
Essentially what you are asking for is an agent to cut their fee in half on a tiny deal that they're still going to have to do most of what they normally do anyway. I doubt you will have many takers.
go to redfin - I think they have the largest rebates