Working with Realtor! Help!! - Posted by Anna

Posted by James Harris on April 04, 2002 at 10:14:50:

Let me put it this way. Your agent will not negotiate for you. He/she will pass along whatever information, but will not negotiate for you. Talk to your agent about the process. If your agent listed the property then he/she will get the whole commission. If she is not the listing agent, but sells the property; then your agent and the listing agent will split the commission. You are in this pretty much on your own except for the help on this board. God bless

Working with Realtor! Help!! - Posted by Anna

Posted by Anna on April 04, 2002 at 09:18:17:

I’m a “newbie” in Real Estate Investing and also in the area I live. I have a close relationship with a realtor (friend) and I would like to take her with me to see a FSBO house, to get her feedback about the duplex I’m interested in. I called the owner, he has a realtor working for him but he’s also trying to sell it on his own (at the same price btw). My question is, would it be allright for the seller to pay MY friend the realtor her commission and ignore HIS realtor in this deal, paying only 3% of the deal, instead of 6%? Or is he obliged to deal with HIS realtor all along?
Thanks

Re: Working with Realtor! Help!! - Posted by mf

Posted by mf on April 04, 2002 at 19:22:11:

Read the post below SHADY DEAL HELP. This is my experience with realtors. It’s my thoughts right now that realtors can not be trusted!!! I’m a new investor, Ive bought properties in which I lived in, fixed up and sold for profits , but this is my first house just to buy with the only intentions were profits.I would’nt trust realtor, there only out for the commisions and they lie and do whatever it takes to make them.THey have no morals or values, they just want to profit from any and all sales Good Luck and God Bless!

Re: Working with Realtor! Help!! - Posted by Brian M. Powers(MI)

Posted by Brian M. Powers(MI) on April 04, 2002 at 10:26:45:

it all depends on the type of listing agreement the seller has with his realtor. if it is an exclusive right to sell then the realtor gets the commission no matter who procures the buyer.
if it is an exclusive listing than the seller may only list it with that realtor, however the seller reserves the right to find his/her own buyer and avoid commission.
BMP

Re: Working with Realtor! Help!! - Posted by Mike Daly (GA)

Posted by Mike Daly (GA) on April 04, 2002 at 09:35:36:

Has he listed with the realtor? If so, he has to pay the realtor or he’s breaking the listing agreement. If not, you’re fine as long as you didn’t find out about the property through his realtor.

Re: Working with Realtor! Help!! - Posted by James Harris

Posted by James Harris on April 04, 2002 at 09:25:15:

I’m no expert here; but from what I’ve been told (by other realtors), if you use an agent to buy property through. Your agent and his/her agent will split the commission. As a word of advise, do not worry yourself about real estate agents getting paid. They will always make sure that they get paid. I had an agent tell me that “their main goal is to get the property sold and get paid” Just my 2 cents

Re: Working with Realtor! Help!! - Posted by Anna

Posted by Anna on April 04, 2002 at 09:41:34:

He has the property listed with the realtor, the interesting thing is that I learned about the property in an MLS listing readiliy available in the internet but I just called the owner this morning to inquire about the house. So technically, I never found out about the property thru the realtor. I DO want to use my realtor here because she can advise me if it’s a good investment or not (I’m new in the area and she helped me out buy my residential property a few months ago). Thanks for your answer :slight_smile:

Re: Working with Realtor! Help!! - Posted by Anna

Posted by Anna on April 04, 2002 at 09:31:28:

Thanks for your quick answer! So you think that it’s best for BOTH realtors to deal all along, right? I just thought that he might give a better price if he only used MY realtor, but I guess that’s part of the negotiation later on… Thanks again :slight_smile:

Re: Working with Realtor! Help!! - Posted by Mike Daly (GA)

Posted by Mike Daly (GA) on April 04, 2002 at 09:51:19:

If it’s listed, then his agent and your agent just split the commission. He can’t just cut his own agent out of the loop. And you might as well use your own
agent because he’s paying the commission, not you.

Protocol is for your agent to talk to his agent. I don’t think there’s anything wrong with you talking with the owner directly, it’s just someone (like his agent) could get mad and make things difficult.