areo16
03-25-16, 12:58 AM
So, we are buying a house. Well have been looking. And we don't have a buyers agent, because I don't need one. I've taken real estate and appraising classes, and got my appraisal trainee license, but have taken on another career path since. I also have all the 2015 forms for the transaction, including contingencies and everything else.
Anyhow, agents will like to tell you that a buyer's agent commission is free to the buyer because the seller pays for it. The second part is true but the first part is not. The seller pays for it, but where do you think the seller gets that money? From the buyer. Plus, most houses are already priced with the idea that the BAC (buyer's agent commission) is already including. So, considering that the BAC can be anywhere from 2 to 4 percent of the sales prices, I can offer around somewhere between 7000-10,000 less on a house than the listing price and the seller will still make the same amount of money on the transaction, because I'm saving the seller that much without having a buyers agent and representing myself. Also, keep note, the listing agent isn't getting my commission either, there is no dual agency agreement in my offers. (Yes, I"ve made a few offers so far on one property, but we found leaking). I know the process quite well.
So, this is where I f###ked up!. The house I made offers on we found had leaking via an inspection after an offer was accepted. I then contacted my mother, to ask my contractor father if the leak may be too bad, and I should pass on this house. Boy, was this a bad idea!!!!!! My mother told everyone in the family we were looking for a house. And my aunt and my uncle, who both have licenses as RE agents, are now calling me to represent me and to get my money. This is exactly what I wanted to avoid.
WTF!!!!!!!!!!!!!!!!!!!!!!
We haven't told anyone in our family that we were house shopping for this particular reason, but in this case I really needed an opinion on the leaky roof and I couldn't get free estimates from any roofers.
Over the last couple of months, I've come to understand how pushy agents can be. First I was polite, but now I just shoot them down immediately, and awkwardly. Rudely almost, but hey its my money we're talking about! Because they will throw you line after line about how its free and how we need them to represent us. But the truth is, sellers would rather do business with someone who doesn't have an agent because then they think they can keep some of the 2 to 4 percent for themselves (but I just subtract that percentage from the offer price to keep that money in my pocket).
Now, I have to shoot down my relatives too, and boy will it be awkward at Christmas after that. But I'm not going to pay 9000 to anyone if I can do it myself. That's that!
How the hell should I handle this?
Anyhow, agents will like to tell you that a buyer's agent commission is free to the buyer because the seller pays for it. The second part is true but the first part is not. The seller pays for it, but where do you think the seller gets that money? From the buyer. Plus, most houses are already priced with the idea that the BAC (buyer's agent commission) is already including. So, considering that the BAC can be anywhere from 2 to 4 percent of the sales prices, I can offer around somewhere between 7000-10,000 less on a house than the listing price and the seller will still make the same amount of money on the transaction, because I'm saving the seller that much without having a buyers agent and representing myself. Also, keep note, the listing agent isn't getting my commission either, there is no dual agency agreement in my offers. (Yes, I"ve made a few offers so far on one property, but we found leaking). I know the process quite well.
So, this is where I f###ked up!. The house I made offers on we found had leaking via an inspection after an offer was accepted. I then contacted my mother, to ask my contractor father if the leak may be too bad, and I should pass on this house. Boy, was this a bad idea!!!!!! My mother told everyone in the family we were looking for a house. And my aunt and my uncle, who both have licenses as RE agents, are now calling me to represent me and to get my money. This is exactly what I wanted to avoid.
WTF!!!!!!!!!!!!!!!!!!!!!!
We haven't told anyone in our family that we were house shopping for this particular reason, but in this case I really needed an opinion on the leaky roof and I couldn't get free estimates from any roofers.
Over the last couple of months, I've come to understand how pushy agents can be. First I was polite, but now I just shoot them down immediately, and awkwardly. Rudely almost, but hey its my money we're talking about! Because they will throw you line after line about how its free and how we need them to represent us. But the truth is, sellers would rather do business with someone who doesn't have an agent because then they think they can keep some of the 2 to 4 percent for themselves (but I just subtract that percentage from the offer price to keep that money in my pocket).
Now, I have to shoot down my relatives too, and boy will it be awkward at Christmas after that. But I'm not going to pay 9000 to anyone if I can do it myself. That's that!
How the hell should I handle this?