Quote:
Originally Posted by MightyDog
Plenty of sellers aren't very aware and they allow listing contracts to be set-up such that their agent gets the full commission even if there is no agent on the buy side. That is nuts.
Even if the sellers let the contract get created that way, the listing agent still has an incentive to reduce the fee they take if they think it will make the trade happen. I've purchased twice in this manner and both times the listing agent coughed back commission (they still got their 2 or 3% from the seller but, not 5%). That helped me and the seller...like I mentioned above.
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Smart move. I have done exactly what you did except I did it 3 times. The realtors coughed back the double commission and got 2.5%. DO NOT sign with that realtor. They are likely acting as a transactional agent. NEVER sign with a transactional agent. Only sign with an agent that is specifically 100% working in your best interests. Also, never sign a 60-day exclusive. Simply change it to something like 15 days. Or, refuse to sign any contract with an exclusive clause. Call another agency.