Tony and Suzanne Marriott, Associate Brokers, Haven Express @ Keller Williams Arizona Realty (Serving the Greater Phoenix and Scottsdale Metropolitan Area)

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Rainmaker
1,722,426
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

You either show the property, or give up the client.

Nov 13, 2015 01:24 AM
Rainmaker
5,772,353
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

You show the property, you have to have vision in this business, it is not all about instant gratification. A

Nov 13, 2015 02:01 AM
Rainmaker
1,027,602
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

I show the property, regardless. Whatever the fee,  if it is truly the house of my clients' dreams, I'll make it happen.

Nov 13, 2015 01:38 AM
Rainmaker
5,095,966
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I will show them. My job is to provide the best options to my clients regardless of my wallet.

Nov 13, 2015 10:23 PM
Rainmaker
5,847,659
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

We do have flat fee listing agents in Denver.  Have to explain if we have a buyer agency, the buyer could be responsible for the difference.   Most often, the buyers do not want to see the home.

Nov 13, 2015 07:02 AM
Rainmaker
437,856
Shirley Coomer
Keller Williams Realty Sonoran Living - Phoenix, AZ
Realtor, Keller Williams Realty, Phoenix Az

I show the property. My objective is to get the right property for my buyer. 

Nov 13, 2015 01:03 AM
Rainmaker
443,220
Cindy Davis
SD Home Source Realty - San Diego, CA

I usually just show the propety and accept what is given. The only exception was this year when the seller would only pay 1%. 

Nov 13, 2015 12:27 AM
Rainmaker
4,551,644
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

I show it.

Nov 13, 2015 12:22 AM
Rainmaker
1,157,785
FN LN
Toronto, ON

The property is shown and the business model covers the fee issue.

Nov 12, 2015 11:45 PM
Rainmaker
1,528,660
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

Byers sign a contract for a minimum commission same as sellers. The contract protects me from low commissions and the buyer knows up front if this home will "cost extra". But, all we are doing is charging buyers & sellers the same minimum fee standard. Our time isn't FREE to them, they just catch a break because we allow the commission, paid by the seller,  to cover our fees to them. Those fees have a minimum for how hard we work and the process experience & results we deliver to said buyer.  

My doctor has a fee, my lawyer has a fee, my coffee costs more at the Cafe' than at home. Service experience comes with fees or you can opt to do it yourself if you do not like the fees.

I've never understood why listing agreements sign a contract to enforce a set fee, yet many buyers agents "don't like to do that to their buyers". I'd say that's a twisted double standard; but in the absence of good leads, agents will do silly things to "feel" busy. Their lack of professionalism affects the consumer attitude towards our industry or I wouldn't care how others run their businesses.

Nov 16, 2015 01:09 AM
Rainer
272,937
Richard Robibero, e-Pro, ABR, SRS
Panorama R.E. Limited - Toronto, ON
Selling Your Home as if it were My Own!

I show everything. If my clients are happy they will be happy to refer me, etc.

Nov 13, 2015 10:00 PM
Rainmaker
979,296
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Tony and Suzanne - I show the property because I feel it is my fiduciary responsibility, and my job, to find my clients the right home for them, not me. My job is not to make sure I make a certain amount of money on each transaction, and it never will be.

Nov 13, 2015 04:01 PM
Rainmaker
4,421,694
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

I always look out for the interest of the buyer and do not look at the commission fee until the buyer removed the contingency I guess I am superstitious:))Endre

Nov 13, 2015 03:23 PM
Ambassador
6,350,068
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Apparently you need to adjust your business model or send this client to another agent.

Nov 13, 2015 10:18 AM
Rainmaker
617,935
David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation
Colorado Real Estate Advisers LLC - Colorado Springs, CO
Relocation, Luxury & Lifestyle residential

Tony and Suzanne,

 

Clients’’ best interest always comes first. If my client wants to make an offer I may see if we can tweak the commission but if not, then I just make less.

Nov 13, 2015 10:09 AM
Rainmaker
325,639
Victoria Ray Henderson
HomeBuyer Brokerage - Washington, DC
Washington DC Real Estate

We show the property. If our client wants to proceed, we do and iron out the details as we move forward.

Nov 13, 2015 04:34 AM
Rainmaker
68,429
Bisendra Melaram
Brita Realty Corp. 718-909-0233 - South Ozone Park, NY
Realtor

The more you show the more you sell...

While I am traditionally a Sellers Agent, I do coach the other agents in my office.  I've read every ones comments and was very surprised to see that no one else uses a similar negotiation strategy to mine...  Interested in knowing what it is?  It's so simple, you'll ask yourself "why didn't I think of that?"

Here it is:

When writing an offer as the agent representing the buyer side...

Always structure your offer to include your compensation.

Spell it out clearly in your purchase offer...

Purchase Amount - Buyer Agent Compensation = (Net to Seller)

 

Nov 13, 2015 04:28 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I don't have an issue with this and will show the property.  Occasionally, if the commission is ridiculously low, like $100.00, I will advise my customer that if they want my assistance, it will cost them a percentage.

Nov 13, 2015 04:12 AM
Rainmaker
1,209,215
Amanda Christiansen
Christiansen Group Realty (260)704-0843 - Fort Wayne, IN
Christiansen Group Realty

Some of the rural homes for sale outside of the Fort Wayne area offer about .5% less than we're used to getting.  If it's the home for my buyers, it's the home.  

We do this to make money, but we also do this to form long term relationships.  It'll all work itself out.  

Nov 13, 2015 04:00 AM
Rainmaker
1,577,443
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

If my buyer wants to see a property, I take them. If I identify the property for them, then I approach the listing agent in advance and get a commission in writing for that buyer. 

Nov 13, 2015 02:39 AM
Rainer
112,947
Vera Gonzalez
RE/MAX Suburban, Inc. - Sterling Heights, MI
Gonzo For Real Estate

I show it. 

Nov 13, 2015 01:50 AM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Tony and Suzanne Marriott, Associate Brokers If I am the Buyer's Agent, I will already have this taken care of when the buyer signed a Buyer Broker Agreement which establishes a brokerage fee.

Nov 13, 2015 01:17 AM
Rainmaker
7,785,759
Roy Kelley
Retired - Gaithersburg, MD

I would show the property if it would meet the needs of the client. If I no longer wanted to work with the client, I would refer them to the listing agent.

Nov 13, 2015 12:31 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

"Purchasing this property may reduce your down payment or reduce your update budget by $xxx as we discussed in my office. If I can not get the seller to adjust compensation will you be OK to go forward?"

Nov 12, 2015 11:06 PM
Rainmaker
513,437
Brenda J. Andrew
ULTIMA REAL ESTATE - Willis, TX
Professional Realtor in Conroe/Willis, TX

I show the property.  The client comes first, and it is my job to find them a property.  After you show and if they are interested, then you have to decide if you are going to charge the difference or let it go-this is just if they signed a buyer rep. agreement with you.  I would just let it go, get the sale and move on.

Jan 14, 2016 09:29 PM
Rainer
5,686
Johanna Knight
Keller Williams Coastal Realty w/The Douglass Group - Durham, NH
e-Pro, CBR, GRI, SRES, ESRES, GPS

As I always have a buyers contract with my clients and there is as in a listing contract a fee for service.  I explain that if the listing agent is not providing fees to the BA to cover our contract fee, that we will ask this from the seller.  If the seller will not, then they know they will be responsible for this portion.  If I wish to waive the difference it is then in my hands to do so.  All properties are always shown.

Nov 18, 2015 01:39 AM
Rainer
5,313
Julie Montgomery
Elite Denver Homes - Denver, CO

A few choices:  your buyer can pay the difference or you can write into the contract "Buyer instructs Seller to pay Buyer's Agent, __________, 2.8% at closing. Co-op in Denver is always 2.8%.  If that doesn't work, find your client a home that pays a full co-op fee. Julie Montgomery, Denver, Colorado

Nov 15, 2015 01:36 AM
Rainer
162,119
Greg Riley
Prudential AllStar Realtors - Rio Rancho, NM
e-PRO,RECS, Rio Rancho Real Estate

I put the Needs of My Buyer before M<yself but Im amazed by the Number of Phone calls I receive from Buyer's agent's stating they won't show my REO Listings I thank them for giving me the opportunity to Earn Both sides of the Commission,,,,

Nov 14, 2015 10:54 PM
Rainer
15,095
Erin Newman
My Home Group - Scottsdale, AZ
Highest Level of Real Estate Service in the Valley

There is a way to address this.   I am not certain how. but I believe someone in AAR could give you insight.  This was discussed at a class I was taking;  I just do not recall the protocol.

I was entering into contract and I addressed a "somewhat low"  commission fee with the cross agent and asked if his seller would reconsider this amount as I was bringing in a near full price offer.  He said "possibly",  I never did do anything about it as the transaction begain quickly, and other business was happening.

I will try to look for old notes and let you know.  But from what I heard in the class, there are agents that do address this with success.

Best!

Nov 14, 2015 06:58 PM
Rainmaker
2,538,633
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Tony and Suzanne Marriott, Associate Brokers. On the mortgage side there is no free enterprise system, as our fees are regulated and can't change between transaction. On the real estate side you can make exceptions.

Make it a great weekend!

Nov 13, 2015 05:48 PM
Ambassador
3,727,581
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

In this situation, our boilerplate buyer broker agreement has the buyer paying the difference.

Nov 13, 2015 11:58 AM
Ambassador
2,678,739
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     Some Brokers write in a set amount, or a service fee or transaction fee, into the Buyer's Broker Agreement.  The Buyer agrees in advance to pay this.

    Example:  A Buyer's Broker just sold one of my listings.  I noticed on the closing statement that the Buyer Broker was charged a "Transaction Fee" of  xxx dollars, payable to the Buyer's Broker. 

     This was obviously something that the Broker and the Buyer had previously contracted on.  

    FWIW, the split that I offered was very good... but this Buyer Broker (a sharp guy who has been in the business for 30+years) knew how to cover his bases!

Nov 13, 2015 11:44 AM
Rainmaker
1,525,616
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

We have a buyer agency agreement and ask the buyers to sign agreeing to pay us if the seller doesn't.

Nov 13, 2015 11:34 AM
Rainmaker
238,558
Michael Layton
RE/MAX Desert Properties - Palm Springs, CA
Experience and Trust

For me it is never about my fee, once I take on a client I serve their needs. Once I had a $140,000 condo buyer become a $13,500 (not a typo!!!) mobile home buyer and once I had $900,000 home buyer decide to up the ante to $1,400,000. It all evens out in the end. The best part is both clients were happy and they knew I cared about them.

Nov 13, 2015 07:08 AM
Rainer
4,811
Jen DeBolt
Keller Williams - Arden, NV
Luxury and Relocation Specialist in Las Vegas

Another one who would cover in a BBA.  We have a min transaction fee, which is disclosed to all clients before we proceed.

Nov 13, 2015 06:37 AM
Rainmaker
897,538
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

It becomes a business decision: yes or no. Budget is one thing, where you are in meeting that budget is another .

Nov 13, 2015 05:08 AM
Rainmaker
519,324
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

I've never had this, but in cases where the offered commission was below my acceptable range, I would prepare a Buyer's Agency Agreement and present that to my clients prior to seeing the property. It would be specific to that property and we'd discuss ways of compensating me.  

Nov 13, 2015 03:55 AM
Rainmaker
1,562,336
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

I think the listing agents who are offering a very small co-op are doing their client (the seller) a disservice.  There will be MANY agents who don't show the property and can show something else.  If the buyer isn't under a buyer rep agreement the agent doesn't have a fiduciary duty.  Buyers should shy away from a buyer rep agreement.  Sellers should realize what they're paying for in terms of commission to the listing brokerage, and how the brokerage is co-oping that fee split, and how it may impact showings.  But, that's in a world where listing agents aren't motivated to line their pockets.  Kudos to all the agents that would show a property with a cheap co-op.  

Nov 13, 2015 03:21 AM