Quote:
Originally Posted by frayedends
You are correct in this post. As I mentioned, just above, the seller's agent might be paying the buyer's agent from that commission. It works out to the same thing if there is a buyer's agent.
You can contact listing agents, you can see the house, make an offer, buy it, all without a buyer's agent. The listing agent will probably still get the full commission and not be giving any to a buyer's agent. But where does that leave the buyer? Paying the same amount and being unrepresented. Seller's agent has no reason to tell you if the house is overpriced, or if your inspector has a bad reputation, or your late on your mortgage commitment, etc.
You can protect yourself a bit with the real estate attorney, of course, but again, the commission isn't less. Maybe, just maybe on a deal in a bad market the seller's agent will reduce their commission if the buyer is unrepresented, but don't count on it.
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???? Why would a buyer care if the commission is reduced? He is not paying it! The only negotiation made with the listing agent is a purchase price both parties can agree upon.
Wrong! The listing agent must provide comparables, provide a reputable inspector or allow a buyer to choose an inspector. The listing agent works under a broker or is a broker himself. A broker MUST
make certain the deal was closed legally with no underhanded shenanigans. Any wrongdoing and they can lose their license. An outside agent is not responsible for any of this.
Again, I hope the practice of a buyers agent is banned in every state.