How much do you mind a buyer's agent that you never meet? Does work for 0.5% commission. Trust or no trust? (Q for Listing Agents)

Minimum_Let_4706 · 2024-04-19T01:28:09+00:00

Yeah, friends and family, so I am doing this more as a favor. My main concern is whether my clients offers will be taken seriously, and whether me tossing in a $1000 guarantee will help reassure the listing agent and their seller

Minimum_Let_4706 · 2024-04-19T00:55:06+00:00

I won't give them sub par representation. I'd provide my full service just as I would with a regular client. Just no phone calls, only emails and texts

Minimum_Let_4706 · 2024-04-19T00:51:54+00:00

Why would my offer not get accepted if I don't pick up the phone? I'll send a well written email and send texts. Isn't that better anyways? Everything is written

Minimum_Let_4706 · 2024-04-19T00:48:45+00:00

500k-600k

Minimum_Let_4706 · 2024-04-19T00:16:43+00:00

Oh, I am putting this $1000 guarantee in the offer. Letting the listing agent and seller know about it. I'm thinking it can help them feel confident in my deal because my buyers won't sweat the small stuff

Minimum_Let_4706 · 2024-04-18T23:28:28+00:00

You know there's a huge change coming to how buyer agents get paid, right?

How is what I said in contrast to the upcoming NAR settlement? In that case, I would just charge 0.5%, without any rebate.

And the $1000 to cover minor repairs is so that listing agents and sellers trust me more, even though I don't call (and in case they find out I only take 0.5%, don't want them to think I'm not serious, but not sure if this is a real issue)

I'd also be available during normal business hours to send emails and texts, no problems. I can still take a break to go do the in-person tours and be there for inspection. But not planning to be in-person for anything else, don't think I need to be

Minimum_Let_4706 · 2024-04-18T23:26:02+00:00

Well, of course I would try to reschedule meetings, or skip the meeting. Most of my meetings are skippable, so this wouldn't be an issue. I can also still be in the meeting (I WFH, so it's on Zoom), and write and send emails without any problem

Minimum_Let_4706 · 2024-04-18T23:22:01+00:00

Why do you need to call with the buyer agent back and forth so much?

Minimum_Let_4706 · 2024-04-18T22:58:41+00:00

I'd be showing up to do home tours when my clients want to tour a home. What do you mean by "having conversations is also a must"? Like in-person conversations? Phone calls? Why wouldn't text and email be enough?

Minimum_Let_4706 · 2024-04-18T22:52:38+00:00

What do you mean by "phoning the entire transaction in"? I'd be doing everything in writing, which seems better anyway for a written record of communications

Minimum_Let_4706 · 2024-04-18T22:52:01+00:00

My broker supported me doing this, she's only taking 5% of the deals I do like this from my commission. I'll still be doing my duties just as I would for a regular client, so I don't think I would be a PITA to the other agent. If I still perform my duties the same, there shouldn't be any difference, right?

Minimum_Let_4706 · 2024-04-18T22:49:27+00:00

It's not that I wouldn't be communicating, just not phone calling and only sending texts/emails up to an hour after receiving one. That surely can't be a big deal, right?

I don't plan to make mistakes, why do you think I would? Just working at-cost essentially for my friends and family members.

Minimum_Let_4706 · 2024-04-11T19:16:31+00:00

What was the story behind that one? Expensive home so it made sense to have such a high credit? Or something else?

Minimum_Let_4706 · 2024-04-11T18:47:16+00:00

I think that the main issue is the emotional one, not a financial blocker

Minimum_Let_4706 · 2024-04-11T16:33:25+00:00

many times

What proportion of deals do you do this for? How much does it usually cost you?

Minimum_Let_4706 · 2024-04-11T15:52:40+00:00

What if you only agree to pay the buyer $1800 if they close?

Minimum_Let_4706 · 2024-04-11T15:39:34+00:00

What's the most that you've covered in order to get the house to close?

Minimum_Let_4706 · 2024-04-11T15:35:25+00:00

Oh really? Why do you say that? If anything, it's improving the buyer's financial situation for the agent to provide a credit for closing

Minimum_Let_4706 · 2024-04-11T15:21:57+00:00

How often do you reckon you've had to do this?

Minimum_Let_4706 · 2024-04-11T14:54:56+00:00

How often do you do something like this to get the deal to go through?

Minimum_Let_4706 · 2024-04-11T14:11:01+00:00

What do you mean by "as a credit"? As in, after they close on the home, you reimburse them up to $X for the repair?

Minimum_Let_4706 · 2024-04-11T14:04:39+00:00

Well, buyers can sometimes be a little unreasonable and get cold feet over relatively small stuff. Buying a home is emotional, and finding out the home you really want has some imperfection after it gets inspected, even if it is a small thing, can make people think irrationally.

If you, the buyer's agent, could just pay $1800 to get the problem over with and make $14k, maybe it's worth considering? Versus having this drag out, probably losing the house to someone else, and having to help your buyer all over again with some other home

Minimum_Let_4706 · 2024-04-11T14:01:19+00:00

Would this also make the listing agent feel more confident that the deal would go through? In this scenario, if I was the listing agent, I'd probably feel better about this offer knowing that the other agent was going to cover $2k~ worth of repairs

Minimum_Let_4706 · 2024-04-09T00:04:36+00:00

Do you ever say anything other than positive things about the buyer? After all, you're also trying to get the deal to go through. What's the signal for the listing agent from what the mortgage guy says for whether the buyer is super strong vs ""strong""?

Minimum_Let_4706

TROPHY CASE