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krw

In article . com,
says...
On May 4, 6:01 am, WDS wrote:
On May 3, 9:09 pm, Tim Smith wrote:

In article . com,

Dycha wrote:
It does not matter .. I just pointed out holes in your reasoning. The
OP thought outside the box ..and does not want to follow "commonly
accepted" rules, hoping to save some $$$ ...

Why would the buyer save some $$$? It's the seller who would save $$$,
and he has no reason to give any of that to the buyer.

It would go something like this:

Seller and agent list house for $100,000. Agent gets 7% ($7000) if it
sells. Buyer pays $100,000 and seller gets $93,000.

Buyer off the street comes in and says to seller "I will buy for
$95,000 straight up and screw the agent." Buyer pays $95,000 ($5000
less) and seller gets $95,000.($2000 more).

If the buyer does not have a "buyer's agent" the "selling agent" is
only entitled to 3.5% (7%/2) since half of the commission is for the
buyer's agent.

I would assume that this depends on the contract. The commission is
owed to the selling agent. AFAIK, the selling agent pays the buyer's
agent according to separate contract. If there is no buying agent
the selling agent *may* get the whole thing.

And, this thing that it is the seller who pays the commision is
arguable. If I want $100k for my house and decide to use an agent to
sell it, of course I will include the agents fee in the price, which
will go to $107.5k. Mostly after my previous experiences buying and
selling houses where did not see the agents value in the fee they got.

Everything is negotiable but it may be hard to get an agent to move
from the local customs. If one could get $108K for a $100K house,
why wouldn't a FISBO ask it? The market determines the value of the
house. The buyer doesn't care where the money is going, just how
much is going.

--
Keith