Can a Buyer without an agent receive the Buyer agents commission?
The Internet is full of "advice", and in the latest version, has buyers calling and wanting to receive the buyer agents share of the commission when they do not have a buyer agent.
The Internet is full of "advice", and in the latest version, has buyers calling and wanting to receive the buyer agents share of the commission when they do not have a buyer agent. Lets set the stage. I am the listing agent. My contract is with the seller. I agree to list said home for said fee. My job is to sell the home and take good care of my seller.
I wake up and there is an email from a buyer who saw my new listing. They love the home and want to buy it. They include the fact that they have no agent and do not want one. They include a price they want to pay and that they will represent themselves. They add great detail about their lives and end with the demand they receive the buyer agents commission for representing themselves.
Lets look at the facts. They have not even seen the home yet. They really can not buy this home without seeing it. They also can buy this home without a pre approval and without a contract. The assumption is they are not licensed or experienced as they provided information they probably should keep to themselves. I emailed over the agency disclosure along with a copy of some information they asked for. However this case also requires a phone call. Some agents may have hit the delete button as this buyer has red flags and stress written all over them.
They began to tell me they know all about real estate and do not require any assistance or advice. They wanted to get right into how much they would be paid for the buyer agent fee. I politely paused the conversation. My first question was "are they licensed?' Well no. Why did they need a license they asked. The short answer is legally it is required to be paid a commission here in NH. Well they wanted to dwell on getting paid for a home they do even have an offer on yet. I switched the conversation to get to the point.
The first step is are they even pre-qualified and with who. They did it themselves. Of course they did. It was time for some hard talk. If they were interested in buying a home the first step is getting prequaled and i gave the the name of a local and trusted loan officer. Fast forward 20 minutes later, i get a call from the buyer who is now pre-qualified, but at a sales price range much less than the price of my new listing. After some banter back and forth, I gave them a choice, they could hire me to assist them buying a home and do it right, or they could keep wasting time doing it wrong. They agreed they may need help but asked if I would then split the buyer agent fee with them. I said sure as long as they split both their paychecks with me off the next 6 weeks we go through the buying process. They paused, they laughed, they asked really and I said yes. They said I was hired as they love my sense of humor.
IN SUMMARY, A buyer or seller should skip the short cuts and Internet advice. If you want to buy or sell a home, do it the right way.
IN THE END they signed a buyer agent disclosure. After 4 weeks of working with them they said i deserve every penny of that buyer agent fee i earned. That this could not have ended better.
I leave you with my infamous thoughts, My philosophy is simple, provide more personal and professional service to guide my clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. Those that hire me, find a dedication like no other.
To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .
About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 34 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties.
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