Quote:
Originally Posted by Rtrorkt
also, pay only the buyer's commission, not the entire fee
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Quote:
Originally Posted by MikeSid
Unless the realtor offered to waive or reduce commission, this is just a play for a listing.
The buyer that supposedly exists (needing the 5 car garage, RV pad, etc.) is out there whether or not you list the house for sale with another agent. So why would you limit the competition for your house?
Decide if you want to sell irrespective of this pitch. If you want to sell, list the house for sale on the open market. Require a lease back as a condition of sale.
If the realtor's offer contained some incentive, since they'd be getting both ends of the commission on this deal, then reevaluate. But with no shaving of commission, this benefits no one but the realtor.
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I'm not an expert on the particulars of RE commissions but it seems like Craig should not have to pay that agent anything since he did't hire him. He's working for the buyer's fee, right?
And what everyone else said, if you take the offer, make it contingent on you staying until an agreed date. And whatever you do, make damn sure you're really netting top dollar on it. If you put it on the open market, at least you know for sure that you got what you could for it.
I have a couple of friends who overpaid for high-end houses in recent years in L.A., IMO and because they could not turn around and sell them for what they paid a year or two later when they changed living plans. That is not supposed to happen in SoCal these days and I'm talking before rates started going up.
I think that their RE agents told them they were getting a good deal, (market value), when they really just did not want to put in a lower offer because they wanted the sure commission. Only relation to your situation is the subject of games RE agents play.
