If I understand this correctly, you are looking for someone that will provide you with a lower listing fee if they buy a home with you?
I don't know what you're looking for in the way of a 'reallty great discount' but I would be willing to discuss this with you.
As an independent broker, I am not constrained by brokerage regulations of the big names, so I invite you to give me a call and let's see what we can work out!!
Have a good one!
I am working a double end right now and it's a lot of work and I'm giving my seller/buyer a great deal. I sold her house in 14 days and saved her money on the physical inspection and termite repairs.
I believe that it's very important to find a Realtor who is highly motivated to help you. Someone who needs your business as much as you need them. When you find this symbiotic relationship you win the most.
Contact me today and I will help you.
Patrick A. Hale, CDPE, RSD
Real Estate Broker & Investor
REO & SHORT SALE EXPERTS WITH A MISSION TO:
"Help Over 360 Distressed Home Owners Avoid Foreclosure"
If You or Someone You Know is in Financial Distress Visit: http://www.SDRealEstate360.com
AS your listing agent you can ask for discount listing fees, I do this and addition to this I also offer Mortgage Loan on your purchase rates lower than your bank or about the same but huge savings at the closing table as far as cost for the loan, So maybe you save 1 to 3% depending on the whole picture , the challenge is making it all go down at the same time closings etc>.. so having 1 agEnt its easier than messing with 2 but I never advIce against it either , I am happy to give killer deal as listing agent and loan officer and or as your BUyers agent
Im here in the neighorhood
From experience I know that selling a home for a client while simultaneously buying them a new home can be extremely challenging . . . and that's understating it. I have done this many times for clients and I usually end up thinking I should have been paid MORE for the work that I did. Primarily the ability of your Realtor to NEGOTIATE the transition is the most important factor in making a smooth transition. If you are able to close on the purchase PRIOR to selling your home then it is much easier for the Realtor and you might ask for a combined commission discount. But most (all) of my clients are only financially able to buy the new place CONTINGENT on the sale of the old place. If that is also the case with you it can be very difficult satisfying the conditions of the lender (new place) who wants to "see some money" before he loans you more, while simultaneously satisfying the conditions of the buyer (old place) who want to move in the second they close escrow. This gives you about 10 seconds to move your belongings from home A to home B. Strategic negotiations such as rent-backs, rent-forwards, simultaneous closings, etc. are tools of an experienced Realtor. I strongly recommend hiring 1 agent to handle both transactions . . . having two seperate agents will place you in between alterior motives. Again, based on your financial situation you might consider asking for a discount or you might consider paying more.
You have some interesting answers here...and I just couldnt resist jumping in...here are three things to think about:
This is probably the single largest dollar-value most folks will ever have...Are you working with someone you trust? There is no substitute for trust.
Do you have an interview plan for choosing the correct Realtor for you? There are many great Realtors out there...all with different personalities...which one will fit best with you?
How much personal attention do you want? How much time will the Realtor have for you? Will you always work with that agent...or will you be handed off to an assistant?
If you focus on quality, and interview for quality, you will get quality.
Too many times I see folks that jump into a business relationship without really checking the references...anyone that is good will have a stack of satisfied clients...but you have to do the homework or you may not be able to tell the difference between client focused...and commission focused agents.
Hope this helps....
Bob Davis, SFR
Brush Real Estate
Brush Agent of the Year 2009, selected in theTop 100 Realtors for Client Satisfaction in 2009 by San Diego Magazine readers poll
You kind of answered your own question in your very last sentence - "Would a great Agent provide me with such savings on both ends anyway that a lackluster one wouldn't that I shouldn't even consider this?" If you have found yourself a truly great agent then they will indeed be worth their weight in unobtainium (as my hubby would say :-)
Consider the role of the Agent in both ends of the transaction, the Listing Agent (representing the Seller of the home) is expected to help their client navigate all the paperwork and the myriad of details that a successful sale generate. They are supposed to be able to help you evaluate the current market in order to set an appropriate price for the property. They don't set the price themselves anymore than they determine what you are going to pay when you buy a home. But they should be able to help you understand what current market conditions, including the nature of the sale and the amount of other competing properties available will do to pricing.
They are also supposed to qualify any buyer's that are interested in purchasing the home, by verifying that the financial information submitted is correct and that the buyer in question appears to be able to complete their end of the bargain should you decide to enter into a contract with them. They make sure to protect their client's interests at all times, by staying on top of all timelines involved in the transaction and by seeing that any special requirements are fulfilled.
The fee you pay to your Listing Agent for this service (which is tax deductible by the way) covers not only their payment but also compensation to the Buyer's agent in your transaction as well. What actually happens is that the amount you pay your agent is split and a percentage of that (per your agreement) is offered to the Buyer's agent .
The Buyer's Agent is responsible for getting their client the best market appropriate price for the property so they are supposed to be doing for their client all that the Listing Agent does and to additionally assist that buyer in locating the property they wish to purchase.
Since the Buyer's Agent's commission is being paid (in most instances unless you enter into a different arrangement via contract with that representative) via a portion of the Listing Agent's commission this fee is not an expense to the Buyer.
Truthfully, a hard working agent earns and deserves to be paid both commissions at the full amount offered.
Now, here's the thing, some agents will offer their client a "deal" not a rebate but rather a discount which would apply if the agent handled both sides of the transaction. And you have every right to ask if they are willing to offer this but don't be surprised if they say no. As for the commission that they receive when they help you buy your next home, my suggestion would be to pretty much keep your eyes and hands off since that money doesn't belong to you. Let them earn their keep and feel good about doing it.
The market we are currently in is very challenging for a whole host of reasons and it is fraught with perils the likes of which few have seen before. A good Agent will give you footsteps to follow that should keep you away from most of the dangers and should be able to handle any of the unexpected difficulties that pop up to keep you safely on course.
Good luck with your sale and your purchase. I am glad you stopped by to ask this question and if you need any additional information or assistance please don't hesitate to ask!
Take care and have a wonderful day!
Tisza Major-Posner, Realtor, IVPG Realty (213) 392-4084
SFR (National Association of Realtor's Short Sale & Foreclosure Resource Certified)
RREOBS (California Association of Realtors Certified Residential REO (Foreclosure) Buyer Specialist
I feel that buying and selling with the same agent is a great idea IF you are comfortable with that particular agent and the rapport is good.
The two times that I was involved in the situation that you are asking about, we did negociate a commission discount on both properties. Some agents will balk at this idea but from my perspective, it seemed fair and equitable under the circumstances.
I would suggest that you be honest with the agent, or agents, you are interviewing and just ask them straight-up what they are willing to do as far as a commission reduction or a rebate.
Two nearly simultaneous sales for any agent is just plain good business!
I would recommend that you list your home for sale through a listing specialist and one who has a strong, verifiable track record of selling homes in the current marketplace. I would then recommend that you hire an exclusive buyer agent to represent you and your best interests on your home purchase. This may cost you a little more in commission, but you are much more likely to sell your home for the highest price possible when you list with a true professional listing agent, and an exclusive buyer agent works to get you the lowest price and best terms on your purchase (so, in the end you sell for higher and buy for less than if you were to work with an agent who tries to do both, thus saving you more money in the long run). Learn more about exclusive buyer agency at http://naeba.org and at http://globella.com. Globella Buyers Realty is the name of my company, a San Diego exclusive buyer brokerage. Thanks, Justin Gramm.
But, that's life, I suppose.
I know this doesn't win me any popularity contests, but it is usually more than twice the work to help the same family sell their existing home and buy a new one. And, no offense to my favorite clients, but what's especially difficult is managing them, and keeping them on task and focused.
But, Doug, do feel free to consider asking, the worst that can happen is that your first choice in an agent decides to walk away. That is, in fact, the absolute worst that can happen.
I don't suggest dropping the comission for when you sell your house too low, as that will drop the amount that your agent will offer to another agent as incentive to sell the house! When commissions get too low, that does sometimes affect how many agents will aggressively market to their buyers.
There is (atleast in Florida) a law that allows a rebat to the buyer from the realtor from the buyers agent comission- this must be approved by the lender and shown on the HUD statement, and then is perfectly legal.
Talk to a few agents and see who you feel most comfortable with- who has the best marketing strategy and who will go above and beyond. I wouldn't get your agent based on the lowest commission as selling a home right now can prove challenging and there are costs associatied with advertising and such. If they cut your commission alot, they can cut advertisements as well. Alot of sellers want to sell, in order to purchase a new home, but can not get theirs sold to do so! Wouldnt it be more harmful in the end not to be able to sell?
Definitely check about the rebate when you buy another property- that may be the best way to go. Or just tell the agents up front your intentions to sell and then purchase and see what they have to offer you! Good luck!
Best of luck,
Each agent has their own business plan you won't know till you interview agents.
We offer that service however not all agents do.