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Updated 2 months ago on . Most recent reply

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Albert Hepp
  • Real Estate Investor
  • Minneapolis, MN
19
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Are you seeing Flat Fee Buyer Agents in your market?

Albert Hepp
  • Real Estate Investor
  • Minneapolis, MN
Posted

Since the NAR Sitzer-Burnett lawsuit settlement, I expect that innovative brokerages will start offering flat fee buyer services. From watching Reddit and my area, it appears to be the case. Flat Fee Buyer Agency is ideal for real estate investors, because an investor can lower their costs when buying an MLS listed property by as much as 2% of the sales price. What are you seeing in your market? Please mention city and state in your response. Thank you.

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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
63,191
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied
Quote from @Albert Hepp:

I've seen huge growth in listings not offering a commission, but expecting a commission, and instructing the buyer agent to include the buyer agent commission with the offer.

This is the first step towards buyers evaluating what an appropriate amount for their buyer agent to earn, which is a very good thing for buyers.


here in Portlandia the listing agents are NOT Allowed to offer a commish.. I think its just understood in the industry that the buyers agent will include one with their offer. 

thats what we have seen on our new builds.. So i negotiate each one as they come in as a seller it has saved us substantially.. Many people / and or agents really cant do simple math. So I dont counter with a % I Counter with a dollar amount and the buyer see's exactly how much that is and when on my homes that are 750k and 2% is 15k I counter at 10k flat fee.. agents get it start to howl but the buyers are like whats the issue your making 10k thats great money :)  
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