Can you buy in Denver without using a realtor?

[Elleke Haggerty]

I am closing on my first rental property in a brand new apartment building in Denver. The closing is scheduled for June. I dealt directly with the seller's agent, and we agreed on a purchase price. I already sent the earnest money to the title company. The seller's agent asked who our broker or lawyer will be, but I haven't hired one (yet). The selling agent said it's not too late to bring in a broker to collect their half of the commission, (around $25k!), but that if I don't use a broker the seller won't discount the price of the apartment (bc they don't want any other buyers in the building to think I got a better price). I spoke with one broker who said he would represent me and give me back $10k. But that essentially means he is pocketing $15k for doing almost nothing. Has anyone ever been in this situation? Can I ask the seller to "pay me back" $25k at closing? Do I need to hire a lawyer to put this arrangement in writing? Does anyone have a suggestion on how best to handle this situation?

[Matt M.]

You should have written it into your offer. Your agent friend should have told you to do that. You can ask to do an amend/extend to see about getting some money back, but I wouldn't give you any money if it was me. 

The seller pays a listing commission and usually splits that with the buyer's agent. Since there isn't one, he/she will keep it all or approx $50k. 

Did you look at comps, negotiate the price at all, etc? Finding a place and writing an offer is maybe half of the work. You've got a long way to go to closing, and if you hire someone, they will be doing a lot of work you won't see in the background. I'd take that agent up on that deal so you at least get something back. 

PS. Just curious. Why are you spending $800k on a condo rental in Denver?