Realtor Incentives

organic_rosefaerieMay 30, 2010

Hi-

I posted this as a suggestion on another post for someone who was trying to sell a house, but I wanted to open it to the group for comments.

If you had a house for sale and wanted to buy again in the same area that you are selling, is it legal to offer real estate agents the following incentive:

Bring a buyer (who ultimately purchases your house) and at closing you will sign a deal to use that agent to purchase your next house?

Any thoughts about this? Is it Kosher?

Thanks!

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terriks

Yes, I think that you could do that, but would you really want to? What if a Realtor that you really don't like, or is just not that good of an agent happens to have a buyer that buys your house. Now you are stuck with using that Realtor to find and purchase a home. I wouldn't want to be locked in to using an agent that might not be my choice.

    Bookmark   May 30, 2010 at 6:36PM
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cmarlin20

I agree with Terriks, I wouldn't want to sign an agreement with any old agent.
The agent that brings a buyer already wants that buyer to buy, the best you can do is price your house well, keep it looking good.

    Bookmark   May 30, 2010 at 6:51PM
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david_cary

Since I am of the opinion that buyer's agents are not that important if you know what you want, I say go for it. But then again I always use a buyer's agent that gives me cash back at closing.

I did 3% to buyer's agents when the standard around here is 2.4%. We were FSBO so I thought it fair to offer a bit more for the hassle of dealing with us amateurs. It was an unusual house and sold fairly well I thought. The house went on the market 6 months later and sold in twice the time and at 10% less price in a relatively stable market.

    Bookmark   June 1, 2010 at 5:48PM
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