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julybride0706
LIF Adult
Member since 3/07 1376 total posts
Name:
kaitlyn
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House listed ith 2 agents?
there's a house we would like to see and debating if we should contact the listing agent directly or use our own contact. we know if we get our own agent, they "may" have our best interest in mind. on the other hand, if we use the listing agent, they may work harder to close the deal since they wouldn't have to split the commission.
so if there are 2 listing agents on this house, do they split the 4% (if we decides to contact them directly) or whoever get the call get the whole %? this is so confusing 
Message edited 11/1/2010 2:16:42 PM.
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Posted 11/1/10 2:15 PM  |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: House listed ith 2 agents?
may have your best interest at heart?
legally if you have a buyers agent they MUST have your best interest at heart
the sellers agent represents the seller
they will look out for the seller and not you and guess who is paying them- YOU
as Realtors we expect to split the comission when we put a house on MLS
it's pre-determined and on the listing we see- there is nothing to discuss on that
You should want your own represention always
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| Posted 11/1/10 2:26 PM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
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They call me "Tater Salad"
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Re: House listed ith 2 agents?
No realtor is going to work less hard to close a sale because he has to split the commission with another realtor. Realtors want to close deals - that is how they get paid. They'd rather get half the commission than none at all. That would be the farthest thing from my mind.
I would absolutely get a buyer's agent, especially if you aren't really well-versed in the real estate market. You want someone on your side, who can assist you with the whole process. There really aren't drawbacks to having your own agent.
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| Posted 11/1/10 2:43 PM |
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caps612
In love with my little guys!!
Member since 8/10 5108 total posts
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Re: House listed ith 2 agents?
I went directly to the listing agent for a house we loved, got it inspected for $500 b/c the contract was "on the way to my lawyer that day". The listing agent then called and told me that they accepted another offer $14K more and that they would meet us half way and still take us at $7K. I realize we had not signed the contract, but he was not upfront with us and we lost the house which i now still drive past every day.
they were not upfront wut us at all and after that happened everyone told me i was crazy to go right to the listing agent, that you are safer having a buying agent.
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| Posted 11/1/10 3:07 PM |
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julybride0706
LIF Adult
Member since 3/07 1376 total posts
Name:
kaitlyn
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Re: House listed ith 2 agents?
Posted by Beth
legally if you have a buyers agent they MUST have your best interest at heart
legally, yes but we had encountered enough to realize it's not always the case which is why we are debating if we should go this route.
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| Posted 11/1/10 3:08 PM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: House listed ith 2 agents?
Posted by julybride0706
Posted by Beth
legally if you have a buyers agent they MUST have your best interest at heart
legally, yes but we had encountered enough to realize it's not always the case which is why we are debating if we should go this route.
You have a lot more to lose going it alone than you do with a good agent on your side. Ask for recommendations -- there are lots of good realtors out there. I can recommend a few if you want.
BTW, this is coming from somone who DID go it alone on her house purchase. I acted as our realtor (I have my broker's license, as I'm an attorney), and I earned the commission on the sale. Going through the buying process again, but OOS where I am not licensed, I am so much more confident having a great realtor working with us. I even listed my home for sale with a realtor. I'd rather pay to have someone competent dedicated to selling my house than list it myself and just wait for buyers to show up. (And I tried the latter first...)
ETA -- I'm not a realtor by trade.
Message edited 11/1/2010 3:32:46 PM.
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| Posted 11/1/10 3:32 PM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: House listed ith 2 agents?
Posted by julybride0706
so if there are 2 listing agents on this house, do they split the 4% (if we decides to contact them directly) or whoever get the call get the whole %? this is so confusing
Depends what the seller has designed. It could be any split imaginable -- but your realtor can see on the full MLS listing (that isn't public) what % of the sales price is offered to the buyer's agent.
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| Posted 11/1/10 3:34 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: House listed ith 2 agents?
Posted by julybride0706
Posted by Beth
legally if you have a buyers agent they MUST have your best interest at heart
legally, yes but we had encountered enough to realize it's not always the case which is why we are debating if we should go this route.
Real estate is a referal based business
I wouldn't call just anyone
find someone you trust- having them on your side will make a huge difference
I always look out for the person I am representing- this is my career and I take it very seriously
Message edited 11/1/2010 3:37:41 PM.
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| Posted 11/1/10 3:36 PM |
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Goobster
:)
Member since 5/07 27557 total posts
Name:
:)
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Re: House listed ith 2 agents?
2 listing agents, depends on the situation
I saw a house with 2 listing agents. I was told one was a friend of the family that they were giving courtesy to. But only the listing agent that actually brought the sale in would get any commission. But that was only the senario I was looking in. I am sure many times if it's two, they split it.
Now add in another agent (buyer agent). They would also have to split the commission with the listing agent (or agents).
In my experiencie, going RIGHT to the listing agent is the way to go if it's a HOT house that will go quickly. That's how I just got my new house....and even my old house....and both were homes that MANY people would have wanted. But going right to the listing agent absolutely worked in my favor. With my current house, I am a billion percent sure that's how I snagged it.
If it's a house that isn't "hot" or extremely desirable, using your own agent may help with negotiations. But in a hot market home/area, no way would I bring in another agent if the buyers are lined up at the door. I would want the listing agent to see my offer as an asset to him/her, and push it accordingly.
HTH
Message edited 11/1/2010 3:46:03 PM.
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| Posted 11/1/10 3:41 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: House listed ith 2 agents?
Posted by caps612
I went directly to the listing agent for a house we loved, got it inspected for $500 b/c the contract was "on the way to my lawyer that day". The listing agent then called and told me that they accepted another offer $14K more and that they would meet us half way and still take us at $7K. I realize we had not signed the contract, but he was not upfront with us and we lost the house which i now still drive past every day.
they were not upfront wut us at all and after that happened everyone told me i was crazy to go right to the listing agent, that you are safer having a buying agent.
I am sorry that happened to you! But sadly the sellers agent was doing their job- if you had your own agent it might have been different
Using a buyers agent in every other state in a no-brainer for some reason in NY people hesitate
as a buyer agent- my job- legally, morally and ethically is to look out for your best interest
I techincally get paid by the seller- but the buyer is the one brining the money to the table - so why wouldn't you want someone on your side
I have great relationships with other professionals and can help my buyer clients when situations occur after contracts are signed-
Not all agents are created equal- finding a good one is key- ask around- People will tell you who is good and who to run from
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| Posted 11/1/10 3:42 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: House listed ith 2 agents?
Posted by Goobster
2 listing agents, depends on the situation
I saw a house with 2 listing agents. I was told one was a friend of the family that they were giving courtesy to. But only the listing agent that actually brought the sale in would get any commission. But that was only the senario I was looking in. I am sure many times if it's two, they split it.
Now add in another agent (buyer agent). They would also have to split the commission with the listing agent (or agents).
i am FIRM believer that you go RIGHT to the listing agent so that your deal is the one they will push (if other deals are similar) since they dont have to split. That's how I just got my new house....and even my old house....and both were homes that MANY people would have wanted. But going right to the listing agent absolutely worked in my favor. With my current house, I am a billion percent sure that's how I snagged it.
HTH
you can't have 2 listing agents from 2 different companies- so the comission is not split 3 ways
it would be listed with a Co-listing agent- who gets a cut of the sellers agents end
But I would not even be concerned about who is getting what split as a buyer- it has nothing to do with you
As the sellers agent- I have to present all offers to the client and get the highest/best one- regardless of who it came from
any agent that does something different could lose their lic
Message edited 11/1/2010 3:54:42 PM.
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| Posted 11/1/10 3:47 PM |
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lismik
LIF Infant
Member since 9/10 311 total posts
Name:
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Re: House listed ith 2 agents?
Can the listing agent also be the seller? This is the case with the place we are buying and while I get that he bought it and flipped it but it also makes me mad that he is pocketing every cent we give him and not giving any off to an agent.
so sketchy...the RE business is such a bunch of nonsense sometimes...
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| Posted 11/1/10 4:14 PM |
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Goobster
:)
Member since 5/07 27557 total posts
Name:
:)
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Re: House listed ith 2 agents?
Posted by Beth
Posted by Goobster
2 listing agents, depends on the situation
I saw a house with 2 listing agents. I was told one was a friend of the family that they were giving courtesy to. But only the listing agent that actually brought the sale in would get any commission. But that was only the senario I was looking in. I am sure many times if it's two, they split it.
Now add in another agent (buyer agent). They would also have to split the commission with the listing agent (or agents).
i am FIRM believer that you go RIGHT to the listing agent so that your deal is the one they will push (if other deals are similar) since they dont have to split. That's how I just got my new house....and even my old house....and both were homes that MANY people would have wanted. But going right to the listing agent absolutely worked in my favor. With my current house, I am a billion percent sure that's how I snagged it.
HTH
you can't have 2 listing agents from 2 different companies- so the comission is not split 3 ways
it would be listed with a Co-listing agent- who gets a cut of the sellers agents end
But I would not even be concerned about who is getting what split as a buyer- it has nothing to do with you
As the sellers agent- I have to present all offers to the client and get the highest/best one- regardless of who it came from
any agent that does something different could lose their lic
That house I was "thinking" of buying mths back...the house was listed on MLS TWO times at the same time, one listing had a male agent's name. The other listing had a woman's (not local) name. I inquired about this and was told the woman was a family friend that they were giving a courtesy to, and if she could sell the house, she would get the comission. But if the male did, the comission was his. That's what i was told and I found it odd to see the listing on the MLS 2 times at the SAME time. So it just was luck of the draw which listing someone might look at and who you would call. I called the agent who was clearly from the area, instead of the friend who clearly was not from the area.
Ever hear of this?
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| Posted 11/1/10 4:53 PM |
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Goobster
:)
Member since 5/07 27557 total posts
Name:
:)
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Re: House listed ith 2 agents?
Posted by lismik
Can the listing agent also be the seller? This is the case with the place we are buying and while I get that he bought it and flipped it but it also makes me mad that he is pocketing every cent we give him and not giving any off to an agent.
so sketchy...the RE business is such a bunch of nonsense sometimes...
Sure, an agent could sell their own home. I have seen this happen. It should not really matter to you who the commission goes to, the only other option for that person is FSBO which they may not want to do. And the agency they work for is likely getting a good chunk of the listing (unless they are the broker).
Message edited 11/1/2010 4:56:08 PM.
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| Posted 11/1/10 4:55 PM |
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LDrinkh20
LIF Adult
Member since 9/09 1820 total posts
Name:
Lauren
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Re: House listed ith 2 agents?
Definitely get a buyer's agent. We are SO glad we did!
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| Posted 11/1/10 6:13 PM |
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