buying without a buyer's agent

[Pat Ryan]

Hi,

i am interested in purchasing a property we have found without a buyer's agent. I have contacted the seller's agent and he seems ok with the idea. However, he claims he knows the listing family personally, and so is taking a smaller seller's commission. He proposes carving out a 1.5% rebate for me and a 1.5% rebate for him, which would essentially make him whole at 3% (1.5% of buyer's commission, and 1.5% seller's commission).

Does anyone have experience with this scenario, and are there any pitfalls going forward? I would insist on a re-written seller's contract, and I would use my own inspector.

Thanks