buying direct from seller

You do not pay a fee as a buyer. The seller pays the fee. In theory you could contact the buyer directly to cut the broker out but the seller has signed a (time bound) contract with the broker which prevents that. Seller broker can be helpful to the buyer too why try to circumvent? If you like it make an offer.

the seller will pay no matter what. you will not save any money by contacting the seller directly unless the property has been on the market for almost 6 months. at that point, if you speak to the seller, you should be able to see the property as soon as the exclusive runs out.

the fewer borkers involved, the better the price you will likely pay--if you do not use a buyers' broker you may negotiate aggressively; such that, when at an impasse bid vs offer, you can tell the seller to get a concession from his/her broker, based on your not having one and the selling broker not needing to split commission

duh

Ethan, what are your fears about working with a broker? I will disclose up front that I am a broker, and I think that if you find an honorable broker that they would only help you in your search process.

Since you arent paying the broker for their services in the case of a sale, go ahead and enlist yourself a buyer's broker (also paid by the seller) to look out for your best interests -- especially if the listing agent does not suit you. In fact, if you have a mistrust for the listing agent, you should definitely enlist the services of a buyer's broker as the listing broker is contractually obligated to represent the seller's best interest.

Perhaps you were looking at a rental apartment -- not a sale where the seller pay the Broker for their services? Even in a rental situation there are plenty of firms who offer a free consultation with a broker before hitting the ground. You might want to make an appointment. Oftentimes they can show you an apartment at a lower price that even with a Broker's fee might save you money in the long term.

Good luck with your search and keep in mind that the right Broker should be looking out for your better interests

Much depends on the agreement with owner and broker. If it is an exclusive right to sell then broker gets paid regardless. If it is an open listing or exclusive agency then seller may avoid paying broker. For a cause of action for broker to get paid he must produce a ready, willing and able buyer, be the procuring cause, and be employed by the owner (express agency). The issue in this case is whether the broker was the procuring cause. Case law (Briggs) suggests if a broker simply informs a buyer of a property for sale (ie when you see brokers listing of the property) this does not bring about the meeting of the minds necessary to establish broker was the procuring cause.

What does all this mean? Contact seller and make them an offer. Tell them you don't want to deal with a broker. The broker does not represent you.

I am not an attorney.

"keep in mind that the right Broker should be looking out for your better interests"

haha good one, broker.

I think you have to capitalize "Broker".

incredible that borkers continually wheel out the tired adage that "the seller pays my commission", when soliciting buyers

best way to buy is to research on one's own, which couldnt be easier these days with tools like streeteasy acris prop shark etc, and negotiate with the help of a good lawyer who respects his/her fiduciary to you

a key piece of the negotiation would be that only one borker would need to be paid

Imagine if you were the seller, and you had a deal, at a price suitable to you, that included 3% for your borker, and your borker sought to scuttle the deal bc he/she wanted the enitire 6%....when said broker rarely ever does deals for more than 3%

what a joke--"the seller pays the commission" hahahahaha

I'm no fan of borkers, but don't you think it's kind of a douchey move to call a broker and then tell him/her that you don't want to deal with a broker? After all, it was the borker's ad/marketing that caught your interest, which means that the borker was doing his/her JOB.

you are douchy and/or dumb and/or don't read well

the seller's borker usually gets paid 1/2 of the 6% commission, with the other 1/2 going to the buyer's borker

so if the buyer aint got no borker and negotiates a fair price, such that the seller's borker only gets paid the normal 1/2 (3%), wtf's wrong with that?

douchy would be for the seller's borker to attempt to get paid for work usually done by the buyer's broker--when there aint no buyer's borker, and the seller's broker aint done no work for the buyer

duh

it's so dopey to think other than that all expenses associiated with a sale, whether "paid" by the buyer or seller, aren't a part of the price that gets negotiated by buyer and seller

take a 3% borker commish out of a transaction and price will reflect that, where savvy negotiators are involved

Um, Wbottomofthebarrel, off your meds again? You're the one who can't read or you're delusional. The OP made no mention of a buyer's broker, so your ramblings make no sense.

Wbottom
about 2 hours ago
stop ignoring this person
report abuse it's so dopey to think other than that all expenses associiated with a sale, whether "paid" by the buyer or seller, aren't a part of the price that gets negotiated by buyer and seller

take a 3% borker commish out of a transaction and price will reflect that, where savvy negotiators are involved

the assumption this asshole makes is that the seller's broker is just going to drop his drawer's and take a lower fee for a direct deal. The contract is negotiated with the seller in advance of it being signed. Some have a clause for a one point reduction for direct deals, many don't. the other assumption the asshole widebottom makes is that the seller will automatically drop his price for a direct deal.

duh

The seller hired a broker for a reason. He/she did not want to deal directly with buyers. By skipping the listing agent, you run the risk of alienating the seller as well. Because it makes you seem a little odd, actually.

Here's an example: I had a buyer make a very good verbal offer on a condo he saw at my open house. This person did not want to use an attorney to review the offering plan. I had no information about him aside from his name and telephone number. Result? The sponsor felt uncomfortable releasing the plan to him, and someone else snuck in with another (lower) offer. The sponsor went with the lower offer, as the buyer seemed more "serious."

I'm not saying don't do it, I'm just saying the net result may not be what you have in mind.

Tina Fallon
Realty Collective