what is the best way to deal with a real estate agent that is selling their own home?  Can they waive their own fee?
134119
6% has been the standard (3% to buyers agent, 3% to sellers agent). Now fees have gone down to 2-2.5% for each agent. If there is an agent selling their own house he shouldn't have a fee as they'd have to pay income tax on it. The seller has the pay the fee, so they would just be paying themselves.
381193
Commission is negotiable. You'll find realtors willing to take a 2% listing and others taking a 10% (that's typically on high-end, harder to sell homes that require costly marketing techniques). 4-7% is most typical, though.
48746
Assuming you'd like to start off working with a good Realtor who will take care of your real estate needs now and in the future, I suggest finding a Realtor who works for and by referral. They will not be spending time on door knocking etc and keep in touch with their past clients. This way, they'll have more time to work with you during the transaction.\n\nI'm a Realtor but not in your area. However, I have met other Realtors in person who are in your area and run their business in the same way I run mine. If you'd like a Referral to one who's professional and runs their business like I run mine, go to http://www.ReferredPro.com and submit your request. I'll forward your request onto a qualified Realtor local to you. Most of the Realtors I network with, I have met in person. I won't give your information out without your approval. So no worries there!
481366
Probably best to tell the broker you are putting the sale on hold so that he does not keep spending money in advertising. He will probably work with you if you tell him you will give him first shot at the listing when you do decide to sell. if he is difficult you could see what you agreement says..you probably could just tell the broker you are going let the listing run it's course but unless he can bring you a full price deal with no strings you will not accept the offer.. that will probably put an end to it all..
146254
As a Realtor, he must disclose everything.  The liability for the agent is higher because of being his own transaction.  So, in most cases, yeah...it's probably a good thing because he/she has more to lose.\n\nStill, get an independent inspection.
464607
What area are you looking in? Also the norm is that the Sellers pay commission for the 'Selling agent/Buyers agent'. If your agent is aggressive enough he/she will ensure they get paid half of what the'Listing agent' is getting paid... example lets say the Mls says that the selling agent will receive 3% commission on the sale of the home... then if nothing changes and then escrow amends that then the selling agent gets paid that 3%. Which usually means the seller is paying 6% to whomever is the listing agent. Usually the 'selling agent' gets paid at the close of escrow. Let me know if I can help you negotiate if your in the state of California ... If not I can recommend someone professional in your local city! :)
211349
Some agencies will reimburse you for your class if you sign up with that agency.  It depends on your state and the demand for real estate agents.
88316
When I do a for sale by owner I start at the bank.\nWhat you need is an experienced mortage loan officer.\n(That's on comission!)  They will make sure everything goes off without a hitch because they don't get paid unless the deal goes through.  As far as being legal you have to go through closing with attorney's.  A good Loan officer will do the things a realtor would but not charge you 6% of the sale.
400683
You had your sellers sign the counter?  That ties the house up.  If you get a better offer, you need to hurry up and withdraw your counter.  If you get another offer that's worth responding to, but not accepting, then you're in a pickle.\n\nI think they'll think on it a while, then sign it.
474746
to reiterate the previous answer -- it's hard work, lots of people have the misconception that it's a gravy job -- not so!  long hours, especially when you want to be off (weekends, week nights), but very rewarding to actually help someone achieve the american dream.\n\ni'm a realtor in texas.  although there is no 'set' commission, generally sellers will pay a total of 6% to sell their home -- that 6% is then split between the listing agent and the buyer's agent.  depending on the company you work for, you'll end up with less, as you have to pay fees to the firm.\n\nif you work for a brokerage that requires you to pay hefty fees up front, you might not want to start there.  there are some companies out there that work good for new agents, you're welcome to send me a private message and I'll give you more details.\n\notherwise, good luck!
616404
You have a number of choices depending on the situation.\n\n1. If you have a buyer agent representing you, tell your agent that you refuse to close until the repairs have been done. If the seller has agreed to the repairs but has not yet done them you can delay the closing until they are done (if you still want to purchase the home). Another alternative is that you might ask your agent to help you get estimates as to the cost of these repairs. Then you can either ask the seller to give you that amount of money in lieu of repairs (and do them yourself after closing) or adjust the purchase price to compensate you for the money you will have to spend to do them yourself. A third alternative is to allow the repairs to be completed after closing and still close on time. The amount of money that your bids indicate that the repairs will cost can be held in escrow by the title company until the seller has had them done to your satisfaction. Once that happens, you notify the title company and they can then release those funds to the seller. Your buyer agent can help you with these options and prepare the appropriate paper work.\n\n2. If you are not represented by a buyer agent and are dealing with the listing agent (who represents the seller), that agent can help you as well, even though that agent is technically representing the seller. The Realtor Code of Ethics demands that all agents treat customers as well as represented clients fairly and honestly. Tell the listing agent which of the above options you want and let the listing agent negotiate with the seller to see what he will agree to. You must be clear as to what you want and get the seller's agreement in writing (i.e. in the form of an addendum to the contract).\n\n3. If you are unrepresented and the seller is a "for sale by owner", you still can pursue the options mentioned above, but you will have to negotiate directly with the seller on these matters. Perhaps the title company or a real estate lawyer can help you with the paperwork for this (get the seller to agree in writing for whatever you mutually agree upon). Often title companies have lawyers on staff who can write appropriate documents to cover this type of situation. There might be a fee for this, but it might be worth the cost compared to what you will save for the repairs. In some states all buyers and sellers have their own real estate attorneys. If this is the case in your state, have your attorney help you.\n\n4. If you have decided not to purchase this home, you can probably get your earnest money back, but you will not normally be reimbursed for the appraisal or your inspection. If it is a FSBO situation, you might have problems getting your earnest money from the seller, in which case you might have to take him to court to get this money back. You will have to weigh the costs of whatever course you decide to pursue.\n\nThis kind of situation points up the importance of having a buyer agent to represent you in a real estate transaction. Check particularly that your agent is either an ABR (Accredited Buyer Representative) or a CRS (Certified Residential Specialist), which indicate advanced training and experience. Real estate professionals deal with problems like this often, and can help negotiate a solution agreeable to both sides. Laws and practices vary from state to state, but in many states such as Arkansas there is no extra cost to the buyer if the home he is purchasing is listed with a real estate agent. In the latter case, all commissions are already included in the price of the home. \n\nIf the home is a "for sale by owner" you can still have a buyer agent in Arkansas and many other states. It may cost you a little extra for the home (to accomodate payment to your real estate agent), but when problems (such as the one described here) arise in a real estate transaction, your agent will go to bat for you and help you through these situations and end up saving you money and aggrav
60783
Yes.  But it's best to ask the policy of the agency that you work for.  Remember, you are working on commission; the more you work, the better your chance to sell a house.
630929
Both your agent and the other agent (seller's agent) can still sue for their commission.  They are the ones that put the parties in touch initially.  If you were in escrow, there is a huge paper trail proving that fact.  The seller is being selfish and it's going to bite her in the \na s s.  She might think she fired that agent, but buried deep in the contract is the fact that the agent is entitled to the commission if they were the ones who worked with a particular buyer.\n\nYou as the buyer have less to worry about because the seller will owe that commission.  But, with such a greed-bag as a seller, I think they will find a way to screw you in this deal, too.  Think about it--she hired her agent who fulfilled their duties as that agent, and greed-bag seller is trying to rip her off after she has done the work.  Such a person will have no qualms about ripping you off or stealing all the light fixtures and copper piping out of the house she just sold you.  Know what I mean?  Proceed with extreme caution.
455533
If you did not sign a representation agreement that states specific time frames.  All you have to do is tell the Realtor you are going to work with someone else.  If you have a signed Real Estate Contract, the Realtor will be due the commission regardless.  \n\nI suggest speaking first to the Realtor's Broker or Manager and asking them to take over the day to day dealings.
249768
The one thing I think about is when I bought a rental property, I made my offer, not knowing about negotiating tactics.  The buyer agent had me sign a dual agency agreement, and I don't think he had my best interests at heart. I offered a low price and ended up paying full price.  I was naive to the fact that he was not on my side, and also, I should have asked for closing costs or some other bargaining chip.  And I should have stood my ground on the slightly lower price, after coming up some.  Being in the investor shoes, the buyer needed me more than I needer her.  I could've walked away, but she needed to sell.  So she probably would've taken the lower price had I stopped.  Overall, I do not regret the investment, it was good, I am also lucky because I didn't order an inspection!!!  (Naive again) Lucky it was in good shape.  But it also could've been a bargaining chip.  Had I gotten a lower price, I'd of had more equity now.
496522
Yes, listen to your instincts.  If your agent is not doing their job, fire them!  Get someone who knows what they're doing.  This time, do extra research on who actually knows what they're doing.  You should have a comparative market analysis done free of charge by any agent that wants your business.  This will show you what houses are selling for in your area.  (Not what they are listed for, that information is useless).
53776
it depends on where you are from...try contacting your local paper and placing a classified ad.  also, study up on how to sell property yourself, it can be tricky, but it does save you the cost of an agent.