Home Buying in Centennial>Question Details

L Franciscus, Both Buyer and Seller in Aurora, CO

Is there an agent that is willing to take 1 commission to sell our existing house and buy a house for us?

Asked by L Franciscus, Aurora, CO Fri Jan 24, 2014

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Here's what you should consider, you want an agent to do two jobs and only pay them once. Would you ask a doctor if they'd treat both you and your husband and only charge you for one appointment?

Any Realtor agreeing to this is starving to death and that's why they'd accept such a ridiculous offer. You'll get exactly what you bargained for, an inexperienced, likely new, starving Realtor desperate for a paycheck. If this is good enough for you then by all means have at it. On the other hand perhaps you'll realize that what you want is a top notch Realtor who has years of experience negotiating for their clients and who has successfully closed hundreds of transactions. The choice is yours.
1 vote Thank Flag Link Thu Feb 27, 2014
Agents who do a good job receive repeat business and referrals. They don't need to charge full price for full service!!
Flag Thu Feb 27, 2014
As I understand your question (and please forgive me if I'm wrong) you want to pay $0 to sell your house, and your agent should wait for payment until you purchase your new home. If that is your question and intention, I respectfully suggest you "go back to the drawing board." My reason for saying this is even if you are a perfectly scrupulous person, your agent has no guarantee of compensation. Sometimes circumstances change and our very best plans don't come to fruition for one reason or another. Should you decide postpone your purchase or become unable to buy, your agent receives nothing ($0) for the work they have already performed - selling your house, and walking you through half your journey. You will have to move from zero and negotiate a reasonable commission for the sale of your home. Understanding the full picture of what you're trying to accomplish, an agent "may" be willing to negotiate the buying side.
1 vote Thank Flag Link Fri Jan 24, 2014
I'm confused. You would be paying a commission to sell your house. Typically you're not paying an agent when you're a buyer. So you're only paying one commission as it is. What are you suggesting be done on the buy side? And why are you suggesting that your agent - or more accurately - the agent's brokerage - work for free? That really makes no sense to me.
1 vote Thank Flag Link Fri Jan 24, 2014
I think they mean to reduce the listing commission because the Agent will get full commission on the Buy side.
Flag Fri Jan 24, 2014
Commissions are negotiable, so it never hurts to ask. Let me ask you a question. If Agent A normally receives a higher than 1% amount to list a home, say 3% for example only, you are asking that agent to accept a 66% reduction in their fee. If another agent accepts 2% they would be accepting a 50% reduction in what they might otherwise accept.
You also have to offer a selling office commission. This should be competitive with others in your area or you may receive fewer showings and have self serving agents guide their buyers away from your home.
Now the math is easy, and you could have done this, but lets ask the next question. If you were one of the best agents in your market, who gets their sellers top dollar in minimal time, would you work for 50% to 66% less than normal or just find a client willing to pay what you usually charge?
Now, I'm not saying you won't find someone. I'm not saying you won't find more than one agent willing to work on these terms. What I'm questioning is whether they are really the best agent for you or someone desperate to make any commission.
My consistent advice here in Trulia is to focus on finding the best possible agent to help you buy or sell and let the commission work itself out. If the best possible agent, with the best marketing program, pre-listing preparation advice, negotiating strength and market knowledge will work for less than another agent good for you and them.
It's my contention that the best agent is worth more than whatever commission you agree to pay them and a bad agent will cost you way more than just some commission. Find the best agent and not just what appears to be a good deal. It could come back to bite you.
1 vote Thank Flag Link Fri Jan 24, 2014
Commissions are negotiable, on a sell and buy transaction like this you will find many agents lower their rate because part of our duty to you in finding the best home possible if figuring out what you really need, and taking the time to get to know you. With most of that time already put in when you are listing your house, buying a house should be a much more fluid transaction. Let me know if you can't find an Agent willing to meet your needs and I will help you find one. Aj-Nichols@kw.com
1 vote Thank Flag Link Fri Jan 24, 2014
As a real estate investor, I never ask for a discount on a listing commission. It puts you in a position where agents would rather show other homes similar to yours to buyers because the agent will make more money. When an agent representing a buyer makes a list of homes to show their client, yours will be towards the bottom of that list because the agent will make less money. Some agents may do less advertising, prepare cheaper brochures, have fewer or lower quality open houses, etc. It's a business and the agents can only spend so much to sell your property. When I have had a property that has been particularly difficult to sell, I have offered a 1% bonus commission to the selling agent to get agents excited to show the property. The more people you get in, the faster your property will sell and you'll get the best price. My two cents, the listing commission isn't the place to save a few dollars.
Flag Fri Feb 28, 2014
Would you hire a discount surgeon to perform heart surgery on your child? Would you hire the cheapest lawyer to represent you in court after you've been t-boned by a drunk driver who ran a stop light? Would you hire the cheapest mechanic to install a new engine in your car? Why is it that most of us would answer no to all these questions, yet look for a cheap Realtor to sell our largest and most important asset and assuming this cheap worker will get the most money in our pockets for the least amount of hassle? If the Realtor is willing to discount his or herself so easily, how well do you think they will negotiate with your money when it counts. Once you've been represented by the right Realtor, the commission will no longer be of concern to you. The right Realtor will put the most $ in your pocket and be your consultant throughout the entire transaction.
0 votes Thank Flag Link Tue Mar 3, 2015
Contact Don Stark at Affordable Brokerage Company. He has a program similar to what you are talking about.
0 votes Thank Flag Link Sat Jan 31, 2015
Of course.
You (seller) pay compensation on the house you sell.
You (buyer) pay no compensation the the house you buy.

That how it has always worked?
0 votes Thank Flag Link Sat Oct 18, 2014
YES, I have done that in the past.
0 votes Thank Flag Link Sat Oct 18, 2014
When you purchase your new home, most often you would not be paying a commission as that's paid by the seller (according to the contract). When I sell a home for my clients and help them buy another I appreciate the business and negotiate my commission accordingly. If you're asking if an agent will sell your house for free because they are going to be paid on the purchase of your next house... different story. Why would you want to hire someone to watch out for your financial interests if they don't watch out for their own?
Basically, buy one-get one free in real estate is a "Yes." I sell your home for full commission, pay the buyers agent and you get your new home commission free!
0 votes Thank Flag Link Tue Jun 10, 2014
In most cases the seller pays commission.
Since the only commission you would be responsible for paying would be on the sale of your home.
Therefore, you are only paying one commission to sell and buy.
0 votes Thank Flag Link Tue Mar 4, 2014
Of course. You have many, many, many options regarding how the professionals you hire will be compensated. Just make certain you are transparent regarding your intentions. And, of course if your intentions are as you state them to be, you will have no problem signing the agreement the professional places in front of you....RIGHT?
0 votes Thank Flag Link Thu Feb 27, 2014
I recommend you sit down with an agent and have them work out the math with you. A high quality agent will can sometimes make you more money even after commissions. Cheap isn't always the best - I have the evidence to prove it.

However anything is negotiable. I would love to be interviewed by you and we come up with a 'win win' situation for everyone.

Call me - 720 226 4168

Julie Reddington
0 votes Thank Flag Link Fri Jan 24, 2014
If a potential customer asked me that question I would and have been more than happy to discuss it. When a customer asks me to reduce my commission I show them a list of all the services that I perform for my clients and then ask them to indicate the service that they do not want to pay for. For example when I work with buyers my largest expense is in gas and mileage. If a buyer offered to take their car instead I would be willing to give them a refund on the second commission.
0 votes Thank Flag Link Fri Jan 24, 2014
I know an agetn that is a great agent and willing to negoiate if there is a sell/buy situation involved. Please feel free to contact me for their information if interested.

Thank You!
0 votes Thank Flag Link Fri Jan 24, 2014
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