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/u/BeverlyToegoldIV
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Used a realtor on the buy side, had a good experience, and am now considering his offer to sell my old home. Biggest sticking point in the initial agreement they drafted is that if we find an unrepresented buyer, they want an additional 2.5%.
Assuming said buyer can write a legal offer, this seems unfair to me. To be honest, I think finding an unrepresented buyer is unlikely. As far as I can tell, pretty much everyone around me uses realtors, and I am willing to pay that 2.5% to a buyer's agent.
Relatedly, I also want to add an addendum/line item explicitly forbidding my prospective agent from referring unrepresented buyers to his brokerage for the purposes of this sale.
I'm going to ask for these changes regardless but I'm curious how standard this is and how much other people would care.
EDIT: In case this information is helpful in answering my question, I live in a strong seller's market in a major metropolitan area. I'm selling a townhouse for around ~515k. There are only a handful of units at this price point in my area (most everything else is $80k more and up), and a lot of demand. The unit itself is very nice and closely located to public transit, but the neighborhood isn't incredible and the schools aren't good.
EDIT 2: This is not a potential dual-agency situation - our draft agreement already rules that out. This is specifically in the case of an unrepresented buyer.
EDIT: Thank you all for the feedback, it's appreciated. I will say, while there were some agents in the thread who offered a genuinely helpful perspective, there were a surprising number who were condescendingly outraged that I would even question this arrangement. I sincerely hope you speak to your clients with more care than you did to me - nobody owes you their business and your profession, while not meritless, is also not that hard. You did way more to make me consider NOT using an agent than all the non-realtors telling me I should.
submitted by /u/BeverlyToegoldIV
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Realtor wants additional 2.5% for an unrepresented buyer
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Assuming said buyer can write a legal offer, this seems unfair to me. To be honest, I think finding an unrepresented buyer is unlikely. As far as I can tell, pretty much everyone around me uses realtors, and I am willing to pay that 2.5% to a buyer's agent.
Relatedly, I also want to add an addendum/line item explicitly forbidding my prospective agent from referring unrepresented buyers to his brokerage for the purposes of this sale.
I'm going to ask for these changes regardless but I'm curious how standard this is and how much other people would care.
EDIT: In case this information is helpful in answering my question, I live in a strong seller's market in a major metropolitan area. I'm selling a townhouse for around ~515k. There are only a handful of units at this price point in my area (most everything else is $80k more and up), and a lot of demand. The unit itself is very nice and closely located to public transit, but the neighborhood isn't incredible and the schools aren't good.
EDIT 2: This is not a potential dual-agency situation - our draft agreement already rules that out. This is specifically in the case of an unrepresented buyer.
EDIT: Thank you all for the feedback, it's appreciated. I will say, while there were some agents in the thread who offered a genuinely helpful perspective, there were a surprising number who were condescendingly outraged that I would even question this arrangement. I sincerely hope you speak to your clients with more care than you did to me - nobody owes you their business and your profession, while not meritless, is also not that hard. You did way more to make me consider NOT using an agent than all the non-realtors telling me I should.
submitted by /u/BeverlyToegoldIV
[link] [comments]
Realtor wants additional 2.5% for an unrepresented buyer
Continue reading...