All Forum Posts by: Christopher Davis

Hi, I'm wondering if any agents in Nashville have noticed any actually shifting trends in commission structure since the NAR ruling? Is it having any effect yet in actual deals? Are sellers leaning into offering only 3% for their agent? Are buyers struggling to accept paying their agent as a new structure? I know it's "all negotiable," what everyone says, but I also hear that most of the time it's standard 6% (3+3 paid by seller).

Generally interested in how that ruling may be starting to affect attitudes on the ground or actual commissions in deals. Not fully versed in every nuance of buyer/seller/agent negotiations, but as a future seller I hope to reduce my commission payouts.

Cheers

Your realtor is asking for $3000 flat fee for themselves or to be split with the buyers agent? Or  you would then have to offer some amount to the buyer's agent?

I think 5.5% to be split is a reasonable offer but what do I know. Like someone else said, some income is better than no income for many people.

Are there new trends in commission splitting resulting from the NAR lawsuit starting to emerge? And I suppose region by region?

I remember in 2010 when I tried being a realtor, they taught us to try and get the buyer to sign an agency agreement, but don't hold your breath. Ask but don't insist. I had one client who flat out refused. Mostly it was in the event that I show the buyer ten houses, then on the eleventh house some other realtors show them, and they decide to buy that one. I would still get the commission because we have agreement in place, and I've already invested work in helping them.

But this is indeed an interesting paradigm shift I think is needed. I understand buyers don't have a down payment plus thousands to pay a realtor. But I don't believe a seller should have to pay the buyer's agent. Some other system needs to be explored. Somebody smarter than I will figure that out. As a potential future seller, I will do everything I can to avoid shelling out an extra 3% to some other agent.

Several years ago I thought about selling and worked with an "e-Buyer." At that time pre-covid they offered top dollar. But they also took 5% commission. But I do like the concept. I wonder if that model will continue to evolve.

Actually the remote is proving a bit more involved than that. I was able to locate the correct one through a local vendor, but it still took two hours to go pick it up. I also have to set it up by replacing a whole bluetooth part in the fireplace itself. It's rather confusing, so I will contact the retailer again so they can walk me through the set up. More time. All because the tenant busted the thing for some reason. 

Currently doing repairs from a tenant departure. Shocking how little regard people have for a brand new house that doesn't belong to them. Life lessons!

One of the allowed deductions beyond material damage is wear tear beyond what would be considered normal. In this case there is tremendous "damage" to walls beyond wear and tear. An astounding volume of scuff marks and abrasions, nail holes, a ferw actual holes, it is beyond comprehension. Way beyond normal. House was spotless when they moved in. So I the owner am having to paint a large portion of house.

My question is, can I deduct a calculated amount based on my time and work to do this labor? I am not hiring it out, but doing a lot myself. There is a busted fireplace remote, which I have to replace. So I have to contact retailers, manufacturers, figure it all out in addition to simply purchasing a replacement. Painting walls takes hours and days. All valuable time. Essentially billing myself as the worker to complete these tasks beyond material purchases. Is there any allowance for time and labor for the owner completing repairs, to bill to the security deposit as well?

(Someone undoubtedly will ask why I am not hiring it out, and there is a whole story going on here, this is what is happening, so no need to ask thank you.)

Thanks for any input

At this point I have made what I believe is a fair offer, we'll see. I really need to resolve this and move on. I discounted my offer substantially based on the major problems described - no documentation or invoices for any work done (so I can't take from previous tenant security deposit now, a primary requirement in the first place) some very vague descriptions of work done, certainly some padding somewhere. I really need to close this chapter and move on, it's really stressing me out. Very sad but I've learned my lesson. I hope she accepts.

I know that now. She was the realtor who helped me buy the house. So I trusted her. Getting receipts or invoices was the primary requirement in this little project. Because I have to apply that against a security deposit. So she failed, has no documentation and may as well be making numbers up.

I'm at the property now, I can see everything. I had to abandon a vacation and come here to oversee this and clean up her mess. It's apparently about 2k of handyman work she hired out. She just did such a terrible job at managing this, I am having to micro analyze every line item. She apparently paid someone 350 to remove a small stain in a sink. She got no receipts or invoices as required. For all I know she just made these numbers up. So I am trying to verify everything.  

It was all verbal agreement and she did not fulfill her end of the deal, getting receipts and invoices. That was explicitly clear. I'm not trying to lawyer up, just thought I'd gather a legal perspective in case she starts to come at me that way. Thanks

Thanks. I'm not trying to lawyer up or fight anything yet, just looking for some guidance. This was all verbal agreement and agent did not hold up her end of the deal. I'm getting really tired of hiring ****** professionals who can't do their jobs properly. So she failed and now she's demanding. I was just thinking to get an early legal consultation in case she goes crazy.