Commission Question: If I find the deal

[Cheryl C.]

I find my own deals. If they are listed I sometimes contact an agent that I have worked with. I run my own comps, pay cash, etc. The agent doesn't even have to attend the closing. On the 3% to selling agent, how much is fair to get back as a rebate? I've been getting about 1 to 1.5. This is not illegal in Virginia. Broker rebates are shown on the Hud-1.

[J Scott]

Only you and the broker/agent can decide what's fair. How much work does your agent do? How involved/diligent is s/he with coordinating closings, etc? If you didn't use the agent, what would suffer and how badly? Basically, you need to decide how important the agent is to you in the transaction process, and compensate accordingly (and of course, ensure that s/he thinks it's fair as well).