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Comments on web brokers

By
Real Estate Broker/Owner with Community Partners Realty

I believe with all this advertising directly to buyers about rebates that sellers are going to stop wanting to pay two commissions. I have had sellers tell me that they do not want to give a buyer 10,000 to buy their home.

Recently on the MLS I saw comments from a bank that no kick backs or rebates are to be given to a buyer.

Looking for your thoughts?

 

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Bill Carroll
Corcoran Real Estate - Westhampton, NY
IN REAL ESTATE, REPRESENTATION IS EVERYTHING
I think its really still only one commision, split two ways. If you are talking about seller concessions, well , the alternative would be to lower the price, no?
Nov 16, 2007 09:47 PM
Martin Bressem
Community Partners Realty - Laguna Beach, CA

Yes it is only one commission but Seller concessions usually are not up to 75% of the selling brokers commission. These buyers would have bought this same home direct from the listing agent if this was the only person to contact. I believe that it will go to a single agent representing both parties if this activity continues.

 

Nov 16, 2007 10:04 PM
Jeff Kessler
Austin Homes, Realtors www.OwnAustin.com - Austin, TX
Broker,CLHMS,GRI

I don't believe that will happen at all.  There has always been people that want us to work for free.  That is just a part of life.  Don't forget you pay for what you get.

J.

 

Nov 16, 2007 10:16 PM
Martin Bressem
Community Partners Realty - Laguna Beach, CA
Excellent answer
Nov 16, 2007 10:22 PM
Chris and Berna Sloan
Group 1 Real Estate - Tooele, UT
Tooele UT

I'm not sure what the reference to "web broker" means. I have not seen 2 commissions either. Certainly none that seller has not agreed to. 

In my experience the seller offers a commission to the listing agent, which is to be split in some fashion w/ the agent that sells the property. Any concessions are either offered by seller or asked for by buyer, and then accepted or rejected by seller.

Nov 16, 2007 10:24 PM