Using the same realtor as seller

[jshouse]

I don't think this is what the OP is referencing.

He is wondering if its advisable to use the listing agent of the property he is interested in as his buying agent.

Most people don't do this because as a buyer you don't pay the real estate commissions and you want someone representing you that only has vested interest in you and not the seller. However, it sounds like in this case the buyer has done his due diligence and is comfortable with the price. I don't see any issue to it if you are comfortable with it and the agent has agreed to cut some commission to represent both parties and save you some money.

every buyer that has bought one of our properties has "helped" pay our realtors commissions. maybe not directly but it is for sure priced in to what we ask.

[RiverRat1]

That Realtor will in effect not be representing either party. They will need to perform as an intermediary. It’s quite different.

Listen to Chance.

Also this is no different IMO than people claiming since they got the vaccine and had no side affects that it's safe. In other words odds are you'll be fine unless you're in the 2% group that has an issue, then you could be screwed. Having your own know realtor should protect you in that case.

And how much are you saving with the 1% reduction? Can't you ask the seller to pay all realtor fees on both sides?

[Hogmauler]

The listing agent represents the seller and their best interest just like an attorney does. The agent cost you nothing. See if you can find an agent with an ALC designation. They may have more knowledge than one that doesn’t. But have them show you the property or procurement issues may arise. In fact, if the listing agent has already shown you the property, bringing in your own representatio probably will cause procurement issues.

[az2tx]

Don't do it

[dclifton]

Fyi some realtors will do the paperwork on your behalf for a set cash price. No matter the sell price for $1500-2000. Might be well worth it to pay that. All the are doing is pushing papers etc then they are more interested. Now if they are out hustling a sell then they want that %.

Just something to think about if you have some realtor friends call them and ask.

[LukeDuke]

Question for you guys. I know it's advisable to have your own realtor when it comes to making a purchase. I'm looking at purchasing a piece of raw property where I am comfortable in the selling price and what I want in the contract. Listing agent has offered to knock a percentage off to represent both. I have already scheduled two viewings with her and done my due diligence regarding utilities, the County, floodplain, etc. If the seller is willing to split the cost savings of the reduced percentage from the realtor, is there any real disadvantage to using the same realtor on what seems to be a rather easy deal?

When operating as an intermediary the listing agent / broker is obligated to treat both parties fairly and without bias.

This being the case - ask the listing agent to provide you with the same comparable sales data that she provided the seller when they were choosing a price. That way you have the same info.

On another note - the reduction in commission only benefits the seller who is likely obligated (per the listing agreement) to pay all the commissions in the deal. Make sure you use the commission reduction to leverage a better price (it sounds like you are on top of that)

Beyond price your next concern would be a number of different deal points in the contract that could favor either the buyer or seller. If you don't have your own agent...and you allow the seller's agent to act as an intermediary...ask her to go over each part of the contract and addenda where a blank has been filled or a box has been checked before you sign.

Good luck!

[M16]

Most people don't do this because as a buyer you don't pay the real estate commissions

Right......it’s just added into the sales price. Just like 0% financing and “free” shipping.

[cobbc03]

As long as its an honest realtor, there should be no problem at all. We bought a house with a realtor we know and the seller had her boss as their realtor. Our realtor was fantastic and could not have asked for a better one.

[Chance Love]

For what it's worth, I have worked as an intermediary quite a few times and have had no issues. But you had better be dealing with someone who is honest. And there aren't just a whole lot of us anymore. You'd also be wise to hire a real estate attorney to review everything. Lots of folks think the title company handles everything but they are looking out for their best interests, not yours.

You sound like you are pretty set on this one, but there can be a lot more involved than numbers and what is on the contract.

[TeamAmerica]

is it really worth saving 1% of the price?

i've done it once (well kinda). i used the same brokerage, but two different agents. that way we had some distance/independence.

I had zero issues and it went extremely smoothly. seller paid the fees. if you are as sophisticated as you believe you are, i'm sure you can pull this off without issue. just need to do more homework and stick to TREC forms, etc.

[RR 314]

Hire an attorney to handle the transaction and tell them to reduce the price by half of the listing agreement (likely 3%).

[RR 314]

Right......it’s just added into the sales price. Just like 0% financing and “free” shipping.

Bingo! I have represented myself on my last 4 or 5 real estate transactions and have never had trouble (a little push back one time) getting the price reduced 3% for no realtor fees on my side (after negotiating purchase price). Many new developers won't reduce the 3% as they don't want to screw up their comps, but others should. I have also represented friends on a couple deals and had the 3% reduction. It IS real money.

[Hogmauler]

For what it's worth, I have worked as an intermediary quite a few times and have had no issues. But you had better be dealing with someone who is honest. And there aren't just a whole lot of us anymore. You'd also be wise to hire a real estate attorney to review everything. Lots of folks think the title company handles everything but they are looking out for their best interests, not yours.

You sound like you are pretty set on this one, but there can be a lot more involved than numbers and what is on the contract.

Boom! Mic drop!

[DFWPI]

I listed my previous home with a realtor and purchased my new home using the same. I couldnt have asked for a better situation overall. Any question I had about the selling or purchase, I was able to make 1 call instead of 2 or 3. Both transactions were seamless and I was absolutely satisfied with using 1 realtor instead of 2... plus we saved 2% on the totality of the transaction.

I don't think that's what he asked, but in your example, totally good with that scenario.

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[DFWPI]

Question for you guys. I know it's advisable to have your own realtor when it comes to making a purchase. I'm looking at purchasing a piece of raw property where I am comfortable in the selling price and what I want in the contract. Listing agent has offered to knock a percentage off to represent both. I have already scheduled two viewings with her and done my due diligence regarding utilities, the County, floodplain, etc. If the seller is willing to split the cost savings of the reduced percentage from the realtor, is there any real disadvantage to using the same realtor on what seems to be a rather easy deal?

Well, my .02 worth is, I wouldn't do it. It's kind of like, you get arrested for a murder and the prosecuting attorney says, hey, don't worry, I will represent you as well to get you the best deal. A little far-fectched, but pretty much true.

The Realtor works for the seller, not you, and as the buyer, it's not really costing you to have your own representation.

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