realtor discounts for selling and buying your home in CA?

Question

I would like to sell my house and buy another one in California.

What would be a reasonable deal to ask a realtor/real estate agent to give you if they handled both transactions?

No one has offered me a deal but what would be a good one that I should approach an agent friend with as an offer, say "If you give me X I'd like to have you handle the sale of my house and the purchase of my next one at the same time"

Thanks.

Answer 1

You may ask a real estate agent anything you want. The thing boils down to what type of deal will the agent accept.

Since all agents are not the same, it is very difficult to tell what one will accept and another will not.

Some are governed by the agency in which they work as the agent has a minimum they can accept. Some work for an agency that the agent can determine the commission without running the results by the broker.

The best way to handle the situation is to interview about 3-4 agents from different agencies, get them to bring your compts on your current home, their marketing plan and their cost to sell it.

Once they have presented their case and needs for selling your existing home, you might tell them of the additional requirements that you want to also purchase a home and where you want to purchase your new home.

Ask them to give you an estimate based on the new information they now have.

Some will say that since the seller pays the commission they will not give you a break on the commission.

Some will tell you that if you purchase from one of their listings they will give you a discount.

Beware of using friends as an agent for your transaction. This may ruin a friendship if things go sour.

I hope this is of some use to you, good luck.

"FIGHT ON"

Answer 2

The type of market were in, is a challenging one; no one can deny that. Before you discuss how much commission you are willing to pay, you should write down what you expect an agent to do for you.
Because even if you get a really deep discount on both transactions, chances are you paid for it in other ways.
Any agent that will back down in a negotiation with you -
may just do the same when representing you.

I'm sure any agent would be willing to do the minimum rate for minimum work.
Ask yourself these questions: If you're a seller and you expect to pay less than other sellers, do you expect your home to get shown?
By the same token, if you're a buyer and want to see everything, do you expect that same agent to spend a lot of time showing you homes that have discounted commissions if you have already discounted him?

To put it another way - when was the last time you wanted to go to work and work harder, after they told you they were cutting your pay in half?

Try not to focus on commission alone.
One way you can test a Realtor is to just search the address of a listing they currently have on a search engine and see how well they have advertised it. Another way is to just ask for references and/or testimonials.

Many discount agents just use the MLS.
Experienced agents will have a property on a multitude of websites. Even good buyers' agents know how to find good properties without using the MLS.

And last but not least...
If you have a friend that is an agent, you should still treat him or her as a professional - and objectively question his or her experience, as it might be a strain on your relationship, if either of you do not agree in the long run or you are unhappy with their service.

Answer 3

Hi I am a real estate agent in California and legally the real estate agent can't give money to you as that's considered a kick back and is illegal. They can lose their license for that.

However they can do the following legally:
*Pay for your escrow fees
*Lower the transaction fee
*Pay for moving expenses etc.

They just can't hand someone a check or cash, as this is considered BOOT which is a legal term.

So another way you can do it legally "So as not to have to pay taxes as if you are receiving income" is like this.

Let's say you want $2000. Well, the agent can take $2000 off the transaction.

For example I can do this transaction for you for 6% on both ends. The selling and the buying but on the selling end I will lower it $2000 and on the buying end I will credit or lower you $2000 on your purchase.

If everything is done in one state and not crossing over states you should be ok. My email is [e-mail] if you have questions.

Answer 4

I know there are agents that will accept reduced commissions because of handling both transactions.

I don't know if "you give me X....." is the right approach. When you are purchasing, the seller's agent has negotiated the commission with the seller, since the seller pays them. And legally, the Realtor cannot share a commission with someone who is not licensed.

Answer 5

Generally, agents have a set percentage they will accept for selling your house. In a good market it can be up to 10% usually. Some agents negotiate their fees in a depressed market like today's.

Answer 6

Oh sure, I had to tell the broker what i grew to become into going to do with all human beings of the homes i offered . . . no longer!!! Realtors are appearing as independent conduits between events. they're required to show all prevalent practise between the events. till they're employed specifically by the two the broker or the purchasers, then they're required to show this to the different occasion. If a Realtor is procuring your place, they're required to show this, as they are going to be getting part of the broking provider's value.