Have you used a rebate Realtor?

[div_0305]

I might be looking to sell our current home and buy another. Looking at rebate realtors (I mean someone who gives you a % back out of their commission for using them), do you think they work as hard as full priced realtors? I used a rebate realtor to buy my current home--with open houses and so much info. online, plus the $ of the homes we were looking at, I think he got paid plenty for his work. But I do think he was less interested in helping us negotiate a better deal, so I don't know if that's just because he was greedy or what. A local realtor runs a blog with very persuasive sounding arguments against rebate realtors. Have you used one and what was your experience?

Or if you used a full priced realtor, did you negotiate something out of the commission? On the homes we're looking at, her half of the commission would be at least $30K.

[SnuggleBuggles]

Never heard of a rebate realtor.


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[MSWR0319]

We don't have fancy terms like that around here! We just negotiate and if it needs to come out of their commission, we let them know that. The last house we bought, the owner wouldn't budge anymore, so our realtor and the seller's realtor, took less commission to get the deal done. When we sold a house about 10 years ago, the realtor had both the buyer and seller, and took less commission to get the deal done. The last house we sold we went with a "set price" realtor. She only charged $1650 for her side of the deal, 2.5% went to the other realtor. I was worried she'd do less work than a "regular" realtor, but she actually did just as much advertising, if not more. I think it's more a personality type thing. There's one realtor in town who is known to not budge on touching his commission. Most will budge a bit to get the job done.

[div_0305]

The commissions here with the standard 6% or even 5.5% are crazy when you consider the price of homes. We just had a house nearby sell for over $15m. I wish I could find out what the commission paid was.

[SnuggleBuggles]

The commissions here with the standard 6% or even 5.5% are crazy when you consider the price of homes. We just had a house nearby sell for over $15m. I wish I could find out what the commission paid was.

Right. But what's a rebate realtor?


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[div_0305]

Right. But what's a rebate realtor?


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I'm not sure what else to say other than from my OP: "I mean someone who gives you a % back out of their commission for using them"

[khm]

You really need to ask locally. This stuff is completely dependent on your market's rules and customs.

In MY area, there are no rebate realtors. It isn't a thing. There are flat fee realtors and regular realtors and for sale by owners.

Regular realtor fees here are rarely, rarely reduced. A realtor needs to get approval from their brokerage and in almost every single case, the answer is no. Exceptions are only made for extenuating circumstances like a military deployment for a repeat customer. Your regular run of the mill transaction where the buyer or seller ask? Nope.

The realtor only gets a fraction of their fee, the brokerage gets the rest. Some brokerages take more, some less. Some brokerages have steep monthly fees for their realtors (for things like backend technology support, photography, marketing), some have less. But, it is important to remember that they don't get all of that big commission.

If your market allows fee negotiation, then certainly, negotiate!

But, I just wanted to point out that it isn't "done" in every market. I think a realtors hustle is up to them. You'll find slackers and hustlers in both camps.