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alex7-2
LIF Adult
Member since 4/06 1418 total posts
Name:
alycia
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open house at my house sunday!!
i just put my house up for sale on tues.signed with the same real estate agent that is showing us another house we bid on..and now there is an open house on sunday 1-3..moving so fast..
BUT GET THIS.. my real estate agent wants to buy my house!!!!! i mean are you serious? here i thought i may not sell it in time..and now she is saying she may be able to give me an offer on sunday! ..im not getting my hopes up..but i feel like im in the twighlight zone right now..but if she likes it..then i hope someone else will if she doesnt like it..Jus thought id share
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Posted 7/27/07 11:23 AM  |
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alnem
This is gonna be a good year!
Member since 2/06 9562 total posts
Name:
Emily
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Re: open house at my house sunday!!
just a question...did she put herself as an exclusion on your listing? meaning, if SHE were to buy the house that she would not be entitled to commission? if she didnt and decides to buy your house, then you would still have to pay her (i know, thats nuts!) and she would probably apply the commission to her closing costs. its happened.
good luck on the sale and purchase!
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| Posted 7/27/07 11:36 AM |
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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: open house at my house sunday!!
Doesn't seem very smart. Unless she is the broker she is probably giving half the commison to the broker, she probably should have just negotiated the commisions out and bought from you before listing..
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| Posted 7/27/07 11:41 AM |
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alnem
This is gonna be a good year!
Member since 2/06 9562 total posts
Name:
Emily
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Re: open house at my house sunday!!
Posted by JandJ1224
Doesn't seem very smart. Unless she is the broker she is probably giving half the commison to the broker, she probably should have just negotiated the commisions out and bought from you before listing..
yea but alot of brokers say that when you yourself are purchasing that you could keep your entire commission. i know mine does.
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| Posted 7/27/07 11:52 AM |
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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: open house at my house sunday!!
Really, I hope mine does too! haha We are looking to buy something now.
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| Posted 7/27/07 12:01 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: open house at my house sunday!!
Posted by alnem
just a question...did she put herself as an exclusion on your listing? meaning, if SHE were to buy the house that she would not be entitled to commission? if she didnt and decides to buy your house, then you would still have to pay her (i know, thats nuts!) and she would probably apply the commission to her closing costs. its happened.
good luck on the sale and purchase!
Yup, she's entitled to the commission unless she excluded herself. There's nothing wrong with that. I hold my RE broker's license for this exact reason. When I purchase my home, I split the commission with the seller's agent. Of course, the difference is that I don't work in real estate regularly, so I don't represent the seller at all.
I will get a check after the closing. What you could do is take that off the price of the house... but if she's not excluded, she'll get the commission which she may or may not have to split with the broker. If she works for a broker, he'd get the commission anyway, so you'd still have to pay it. If she gets it all, it may be easier to deduct it from the price of the house.
ETA - She'd get a commission even if she bought from another realtor.
HOWEVER, you may need or want a realtor looking out for your interests, and I'm not sure if you can get another one at this stage of the game. I guess she would then have to act as a dual agent... I'm not sure if this would discourage me from selling to my realtor or not, though... likely not.
Message edited 7/27/2007 12:27:53 PM.
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| Posted 7/27/07 12:21 PM |
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alex7-2
LIF Adult
Member since 4/06 1418 total posts
Name:
alycia
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Re: open house at my house sunday!!
Posted by alnem
just a question...did she put herself as an exclusion on your listing? meaning, if SHE were to buy the house that she would not be entitled to commission? if she didnt and decides to buy your house, then you would still have to pay her (i know, thats nuts!) and she would probably apply the commission to her closing costs. its happened.
good luck on the sale and purchase!
OMG i havent been on all day..i just read your replies..im nervous now..she did say from the beginning that she would waiver her 2% fee if she was willing to buy it...but "coach real estate" would get the other 2%..does this sound right? i dont want to get scre#ed...do you think i may be?
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| Posted 7/27/07 9:55 PM |
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alnem
This is gonna be a good year!
Member since 2/06 9562 total posts
Name:
Emily
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Re: open house at my house sunday!!
Posted by alex7-2
Posted by alnem
just a question...did she put herself as an exclusion on your listing? meaning, if SHE were to buy the house that she would not be entitled to commission? if she didnt and decides to buy your house, then you would still have to pay her (i know, thats nuts!) and she would probably apply the commission to her closing costs. its happened.
good luck on the sale and purchase!
OMG i havent been on all day..i just read your replies..im nervous now..she did say from the beginning that she would waiver her 2% fee if she was willing to buy it...but "coach real estate" would get the other 2%..does this sound right? i dont want to get scre#ed...do you think i may be?
no you should be good considering she disclosed her interest prior to you signing. but if she was a REALLY smart REA she would have offered to buy the house BEFORE taking the listing, that way you could have been a little more flexible on the price. now its too late since you have to pay the broker a minimum of 2% regardless of who buys your house.
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| Posted 7/28/07 10:27 AM |
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alnem
This is gonna be a good year!
Member since 2/06 9562 total posts
Name:
Emily
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Re: open house at my house sunday!!
Posted by Kara
Posted by alnem
just a question...did she put herself as an exclusion on your listing? meaning, if SHE were to buy the house that she would not be entitled to commission? if she didnt and decides to buy your house, then you would still have to pay her (i know, thats nuts!) and she would probably apply the commission to her closing costs. its happened.
good luck on the sale and purchase!
Yup, she's entitled to the commission unless she excluded herself. There's nothing wrong with that.
i agree that there's absolutely nothing wrong with a REA being entitled to the commission when they buy a house, i've done it before and plan on doing it again because i apply it towards my closing costs.
BUT, its kind of different when you purchase your own listing as opposed to purchasing someone else's. if the agent knew she had interest she should have made an offere before taking the listing so that maybe the seller could have been more flexible on the sale price since she's saving on commission. kwim?
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| Posted 7/28/07 10:29 AM |
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