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06.08.08, 17:30 PM General Topics
9 replies
ok, let me rephrase...If we found a house to buy on our own at an open house (our agent didn't even tell us about it) what do we "owe" her? [ Reply | Watch | Flag ]
General Topics 06.08.08, 05:30 PM Flag
 

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You still need a broker for all the paperwork, and the seller pays the broker regardless. [ Reply | More ]
General Topics 06.08.08, 05:30 PM Flag
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but maybe we could offer less and she could take a smaller cut? [ Reply | More ]
General Topics 06.08.08, 05:31 PM Flag
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Do you not understand how the system works? The seller is paying 6% to their broker regardless. Their broker either keeps it all, or splits it with your broker. [ Reply | More ]
General Topics 06.08.08, 05:32 PM Flag
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price is cranked up to make up for agent's cut, so if cut is less price might be less.... [ Reply | More ]
General Topics 06.08.08, 05:33 PM Flag
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But in nearly all cases the seller will already have a contract with their broker - they cannot lower the commission rate at this stage. [ Reply | More ]
General Topics 06.08.08, 05:34 PM Flag
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not necessarily [ Reply | More ]
General Topics 06.08.08, 05:32 PM Flag
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You do NOT need a broker for the paperwork. We did it without. OP, you don't "owe" her anything unless you were under contract with her during the time period (in which case, read the fine print, you may be OK or you may not). Either way, the OR is right, you don't have to pay her anything - it doesn't hurt to put her name in (if you like her) and the seller's broker with split the commission with her. [ Reply | More ]
General Topics 06.08.08, 05:33 PM Flag
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though if you try and split the brokers' fee with your RE agent, the seller's agent may balk [ Reply | More ]
General Topics 06.08.08, 05:34 PM Flag
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Nothing. But what do you have to gain by cutting her out? The seller's broker isn't going to hand you a piece of their commission. [ Reply | More ]
General Topics 06.08.08, 05:33 PM Flag
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