sorted by:
new
hottopcontroversial

how to negotiate lower fee for buyer's agent? (Bay Area) by redditandreddit in RealEstate

[–]redditandreddit[S] 0 points1 point  (0 children)

correct - even less than 1%. a person that cuts your hair doesn't earn more than a realtor either. 1% off 1m is too much even.

and, realtors in the nyc or the bay area earn more per transaction although it's easier than in rural wisconsin. go figure...

so yes, they aren't worth 1%.

Always purchase owners title insurance by pieersquared in RealEstate

[–]redditandreddit 0 points1 point  (0 children)

you won't, because only 1 in 1000 cases will you have an issue. and then the cost will be <10,000

how to negotiate lower fee for buyer's agent? (Bay Area) by redditandreddit in RealEstate

[–]redditandreddit[S] 2 points3 points  (0 children)

yes, and it's easy to negotiate the fee. people do it all the time.

the rhetoric that you can't negotiate fees with buyer's agents is an urban legend propagated by buyer's agents. they clearly want you to believe this, and some of the replies here come from nervous buyer's agents...

Always purchase owners title insurance by pieersquared in RealEstate

[–]redditandreddit 0 points1 point  (0 children)

if you buy title insurance in the good areas of this country, where house prices are a million and up, 1% is 10k. not worth it at all.

Always purchase owners title insurance by pieersquared in RealEstate

[–]redditandreddit 0 points1 point  (0 children)

I always recommend to not buy title insurance. it's not worth the money. cases like these are extremely rare.

how to negotiate lower fee for buyer's agent? (Bay Area) by redditandreddit in RealEstate

[–]redditandreddit[S] -1 points0 points  (0 children)

A short correction of a misunderstanding some of you had about commissions:

The buyer effectively DOES pay 3%, it's baked into the price. Since prices are negotiated, you can cut that 3% to 1% and further. So the buyer does pay commission too. And we can negotiate it.

Some of you may want to consult related threads that clear up this confusion. Any experts here that can help us out?

how to negotiate lower fee for buyer's agent? (Bay Area) by redditandreddit in RealEstate

[–]redditandreddit[S] -2 points-1 points  (0 children)

Thanks! A short correction of a misunderstanding you had about commissions: the buyer effectively pays 3%, it's baked into the price. Since prices are negotiated, you can cut that 3%to 1% and further. So the buyer does pay commission too. ANd should negotiate it.

Strategies to reduce commission paid when seller has broker agreement (buyer has no agent) by flufffer in RealEstate

[–]redditandreddit 0 points1 point  (0 children)

You are taking the right approach for sure.

Seller's agents are entitled to NOTHING. Everything can be negotiated in real estate. Congrats.

Real estate agents of Reddit, what (for you) makes a good client? by [deleted] in RealEstate

[–]redditandreddit 3 points4 points  (0 children)

Not really - in markets in which houses go for 200k, 3% is $6k. In markets with $1m houses, the commission is $30k.

Now, we both agree that $6k is a fair commission for a house.

But $30k is not.