It is easy to give away something that does not belong to you. The problem, though, is that it simply is not yours to give away. The amount of work that precedes or follows any one moment in time on a transaction is called hard work and hard work is compensated.
There are some buyers who choose to go it on their own. For whatever reason they don't want anyone else to negotiate for them but they do want a deal.
Recently one of those unrepresented buyers contacted me about seeing one of our listings. However before seeing the property they wanted me to agree to reduce my commission so they could make a lower offer. Here is the bottom line. The commission is not the yours (buyer) to negotiate.
Let's see if I can explain this. The listing agreement spells out the commission to be paid at settlement. The listing agreement is between the seller and the brokerage. A portion of the commission is designated for the buyer's Realtor® when the property is entered in the MLS. That does not mean without an agent the agreed upon total commission changes. It is 100% the decision of the seller and the listing Realtor® (with broker permission) to reduce the amount.
Thinking the listing agent is going to do less work because they haven't had to show you a dozen homes just isn't true. Unfortunately to many buyers, perhaps fueled by TV shows, think a buyers agent job is only about opening doors. They don't realize everything that happens after a contract is ratified. If you don't have your own Realtor® who do you think is there when you do a home inspection? How does your appraiser get in? What about paperwork your lender needs? Title company paperwork and much more.
In reality instead of doing 1/2 of the job the listing agent is now taking on the job of two. If you are interested in going it alone in a real estate transaction that's fine. Just don't expect the listing agent to agree to lower their commission when you do.
No Hassle-No Pressure-Just Straight Talk About The Northern Virginia Real Estate Market
If you are interested in learning more about the Northern Virginia Real Estate market including Alexandria, Arlington, Fairfax and Prince William Counties give Cindy Jones and CJ Realty Group, Inc a call at 703-346-2213.
Military Relocation Specialist serving military families relocating to and from the Pentagon, Fort Belvoir, Quantico MCB and all of the Military District of Washington installations.
No hassle-no pressure-just straight talk about the real estate market
Check out www.varealestatetalk.com and www.cjrealtygroup.com for more information.
Licensed in Virginia