If I find a house without an agent, can I avoid paying the buyer agent 3% commission?

Question

If I find a home myself to purchase, I have been told that the 6%(3 each to buyer and seller agent)commission is included in the price of the home but I find it ridiculous that the seller's agent should get more than 3% if I am doing all of the work. Thanks for any help or tips.

Answer 1

All of the above answers are correct, more or less but you really should consider working with an agent to walk you through the buying process, especially if this is your first time purchasing a house.
If you are not represented you need to remember that the seller's agent is going to do everything in their power to get the seller the best deal possible, you will NOT be able to ask them for advice and or opinions. Be careful of making statements like "I won't offer above X amount." or "I can't see anything wrong with this property...it looks perfect." to the seller's agent or the seller. It tips your hand and you lose bargaining position.
The other side of the issue is that while you may have found the property you wish to purchase on your own, the seller's agent IS going to be "doing all the work" filling out the forms and what not and setting up the deal and closing, whereas if you had your own agent it would be 50-50.
One last thing... the seller's listing contract may not have stated 6% since that rate IS NEGOTIABLE in all cases. I would not assume 6% is the rate unless you have seen the contract or found that out from one of the parties involved.

Hope this helps....

One other thing...

Some buyer's rep agreements have a clause in them that states that the buyer will pony up their agent's share of the commission should the seller refuse to pay or what have you. This almost never happens, however you can ask your agent to waive this part of the contract by crossing out that specific portion and initialing it. Most should be willing to do so. My agent did it for me.

Answer 2

The listing agent is owed the 6% by contract from the seller not you. The listing agent makes an offer to other licensees that if they bring a buyer they will get a 50% share in the commission. The marketing costs stay the same and the necessary work to close the transaction remain the same regardless of whether there is one or two agents involved.
Buena Suerte

Answer 3

WHY would you want to pay more for a house and enter into a contract on a house that's more seller friendly than you should? Tha'ts what you're going to do if you buy a home by "driving around, calling on signs".

Also, you're not going to be doing all the work of a buyer's agent. The listing agent (or whatever agent showed you the house) will be doing the work. If you want the 3%, and you want to do all the work get your license and do all the work.

Answer 4

If you see a house that you like and you contact the listing agent they will be HAPPY to work with you.
If you and another person make an offer on the house, all things being equal (you both offer the same price, etc.) the listing agent would definitely try to sell the house to YOU because that agent would then pocket 6% of the commission paid to her or him by the HOMEOWNER / seller but NEVER by YOU!

Answer 5

I always tell my clients to push the listing agent to get whatever the cooperating agent split paid towards their closing costs instead, or to reduce the sales price by that amount.

Just because the seller is paying them, doesn't mean you aren't. Your price could theoretically be lower without the agent's commissions, so you basically pay for it and finance it.

It doesn't always work, but it's worth trying. Hard part is making sure the seller actually sees the offer the way you are wanting it to be presented.

Answer 6

YOU ARE NOT PAYING THE COMMISSION!!! The seller is paying the commissions and nothing is coming out of your pocket. Representation for the buyer is just a good idea and protects you from unethical sellers. Hire that agent- its not costing you anything!!!!

Answer 7

it relatively is the place communique is important and you may desire to talk alongside with your agent. brokers make their funds (the stable ones), via ethical potential. From a criminal viewpoint, something you purchase whilst that contract is in rigidity, you owe your agent a cost, even in case your purchase a on the industry via proprietor or no longer. Now, till you and your Realtor have been spending each weekend driving around...he/she would be able to maximum in all probability dissolve the contract in case you discovered a house on your very own...incredibly if the unique purpose of the contract became into for one transaction. in spite of the incontrovertible fact that, if this agent has been bending over backwards that can assist you and you discovered a FSBO on your very own, then your agent will at minimum, prefer to head into into what's called a co-brokerage contract with the corporation...meaning for a three% vs a 6% cost, the corporation pays your agent, the corporation gets the homestead offered, and you get some point of represenation...the optimum reason maximum sellers do no longer prefer to pay a catalogue agent is they do no longer prefer to take the 6% hit off their sales cost in commissions, so Realtors appearing in a co-brokerage will ask the corporation to strengthen the cost of their homestead via 3%, that way, they walk removed from last with the comparable quantity of money that they have been initially waiting for. it relatively is rather, very uncommon that a corporation won't conform to it.

Answer 8

The seller pays aALL the commission, the buyer pays NONE of the commission!!

Answer 9

you dont have to use a buyers agent
A sellers realtor is not going to ignore an offer simply because you are not represented by a buyers agent.