Great question! Just by offering you are doing more than most FSBO listings which could help an agent bring a valuable offer to your listing. It might be more interesting to explore flat fee services in your area where you can pay an agent a flat fee to list your home on the MLS. This may help your offer get more visibility because it will be on the MLS.
Hi Kyle! Thank you for this video as it was very informative!! When interviewing buyer's agents, would it be okay to ask about the out-of-pocket cost for a buyer?
Why would a buyer's agent want to negotiate lower if they get paid half of a set percentage of the purchse price? Wouldn't they want the purchase price to be higher? Higher purchase price = higher commission?
It just doesn't work that way. The buyer's agent works for the buyer and it's customary in the US for the seller to pay the agent's fee at the end. It's all agreed to up-front, the seller can't hold the commission because the buyer's agent did or did not do something.
@@WinTheHouseYouLove So the buyer agent will get the very best (lowest) price possible for the buyer even though it reduces the buyer agent commission?
I understand your ideological question, but I'm not sure what resolution you're looking for. If you'd like to pay the agent out of your own pocket, you are welcome to do so if that would help you feel like the agent is unbiased.
No offense intended, but you're giving very bad advise in this video. This notion that home sellers mostly pay buyer agents has been the customary practice but it is not contractually supported. It's a traditional REALTOR® practice that has landed the industry into a tub of hot tar totaling $5 billion-plus in jury awards and counting. Buyers who sign a buyer agency agreement should expect to pay their agent for services rendered, or ask the seller to contribute the buyer broker fee in an offer of purchase and sale. Buyer agents are remiss in their duties when they fail to make clear to their customers/clients that the customer/client is responsible for paying the person who represents them. Sellers are only responsible to their listing brokers. Please don't perpetuate this notion that buyers are mostly not on the hook when it comes to paying their agents. I know this has been a customary practice, but it's about to end in billions of dollars in damage awards for Sherman Anti-Trust violations.
Your videos are awesome!!
Glad you like them!
If we're selling by owner, what is a reasonable percentage to give a buyers agent in Florida?
Great question! Just by offering you are doing more than most FSBO listings which could help an agent bring a valuable offer to your listing.
It might be more interesting to explore flat fee services in your area where you can pay an agent a flat fee to list your home on the MLS. This may help your offer get more visibility because it will be on the MLS.
Hi Kyle! Thank you for this video as it was very informative!! When interviewing buyer's agents, would it be okay to ask about the out-of-pocket cost for a buyer?
Hi, you're welcome! For sure, completely ok :)
Why would a buyer's agent want to negotiate lower if they get paid half of a set percentage of the purchse price? Wouldn't they want the purchase price to be higher? Higher purchase price = higher commission?
If the deal doesn't go through, they agent doesn't get paid
@@WinTheHouseYouLove true that haha
If the seller pays the buyer agent, then doesn't that agent work for the seller?
Nope
@@WinTheHouseYouLove Why not?
It just doesn't work that way. The buyer's agent works for the buyer and it's customary in the US for the seller to pay the agent's fee at the end. It's all agreed to up-front, the seller can't hold the commission because the buyer's agent did or did not do something.
@@WinTheHouseYouLove So the buyer agent will get the very best (lowest) price possible for the buyer even though it reduces the buyer agent commission?
I understand your ideological question, but I'm not sure what resolution you're looking for. If you'd like to pay the agent out of your own pocket, you are welcome to do so if that would help you feel like the agent is unbiased.
No offense intended, but you're giving very bad advise in this video. This notion that home sellers mostly pay buyer agents has been the customary practice but it is not contractually supported. It's a traditional REALTOR® practice that has landed the industry into a tub of hot tar totaling $5 billion-plus in jury awards and counting. Buyers who sign a buyer agency agreement should expect to pay their agent for services rendered, or ask the seller to contribute the buyer broker fee in an offer of purchase and sale. Buyer agents are remiss in their duties when they fail to make clear to their customers/clients that the customer/client is responsible for paying the person who represents them. Sellers are only responsible to their listing brokers. Please don't perpetuate this notion that buyers are mostly not on the hook when it comes to paying their agents. I know this has been a customary practice, but it's about to end in billions of dollars in damage awards for Sherman Anti-Trust violations.