In buying a house, is the buyer's agent fees negotiable?

Question

We're about to buy a house. Our agent wasn't instrumental in the process at all. We did everything.

So Is the 3% to pay an agent written in stone, or is it (or can be) negotiable?

Answer 1

The fee is negotiable BEFORE you sign the buyer agency contract. Once it's signed, don't expect any negotiation.

As a note to BrianG, that's incorrect, at least in my state. The person who signs the buyer agency (at 3% as an example) is fully liable to pay the full three percent buyer agency fee, even if the split ends up being less. You might want to check that out.

Answer 2

If you know someone who is a Realtor. Make a deal with him.
He may give you some money back.

P.S. The commission is set between the Vendor and the listing agents. The buyer agent has nothing to do with it. He cannot change it. The buyer agent only share the commission with the selling agent.

P.P.S. Do not sign any buyers agency contract with an agent. And do not promise to pay anything if you did. If you are a serious buyer, any Realtor would like to work with you. And they are required by law to work on your interest.

Answer 3

I am a Realtor.

Did you sign a "Buyer Agency Contract"? If yes, you probably already have committed to paying a 3% commission to your agent. This 3% is offset by any commission split agreed to by the listing agent and seller (usually...3%).

Everything is negotiable....

Answer 4

Elliott,
Why are you paying the agent? And why do you have an agent if you did everything? The buyer's agent is paid by the listing agent of the property.

And as stated commissions are negotiable.

Answer 5

If you are in the US, you don't pay your agent. The commission is split with the listing agent. You have no say in how their two offices negotiate the split.

Answer 6

Everything is negotiable.
Good luck.