Buying A Home
CowgirlK39
member
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Commission question
We recently began speaking to a new realtor after we felt our last one was rather unprofessional. We had looked at a home last year with the old realtor but it went off the market for the winter and now is listed again but is for sale by owner. The new realtor contacted them and asked if they would be willing to work with her but they would need to pay the commission, and they said no. She told us that she therefore is unable to show us the house (we had seen it already but want to go again to see a few changes that were made). She gave me the phone number and said that we could ask to go see it on our own. She then made a comment about how if we decided to pursue this property, the commission would fall on us to pay. Is that true? This realtor didn't really do anything, why would we have to pay her commission? She called, asked if they would work with her, they said no so now it's up to us..... Will we owe her if we decide to take this property?
Re: Commission question
If you signed any agreement with the realtor, then they are entitled to a commission on any home that you purchase within that time.
If you didn't sign anything with the realtor and all they did was make that one phone call, they'd have to go after you for the commission.
Im a realtor so I am somewhat biased, but if you havent bought houses before its probably a good idea to use one.
if you move ahead without them you are not required to pay them, they were just giving you an option.
one thing that I think could be a great option would be to go see the house on your own and if you want to make an offer, you can make it contingent upon them paying your realtor something. Also keep in mind it doesn't need to be the standard 5-6% because your realtor doesnt have another realtor to split it with you could say 2.5 or 3% which is a lot more affordable.
If they think they have a solid buyer lined up I doubt they would throw that away over a few thousand in commission.
Quite frankly, finding houses to show you is only a very small part of what a realtor does. In fact, I preferred to do that myself.
Where I found my realtor to be very helpful is writing the contracts and brokering the deal. A realtor will also pull comps, which will help you determine the right price to offer. Depending on the fee she would charge, I suspect it would be money well spent...especially if you are a first-time home buyer. If you aren't a first time home buyer and her fee would be pretty high, idk. Then I'd probably do some serious research on the pros/cons of not using an agent at all.
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