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  1. #11
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    Sep 2010
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    Default Re: Any Way to Find Out if I Am Paying Fair Market Value for a Property

    Sorry Harold, but your comment is bogus. That would hold true if you got to the seller before he signed a listing agreement, but in most cases, the seller is is listed and has a contract to pay 6% on the sale. It's that brokerages 6% that is split with the buyer's agent.

  2. #12
    Join Date
    Feb 2020
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    750

    Default Re: Any Way to Find Out if I Am Paying Fair Market Value for a Property

    Quote Quoting flyingron
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    Sorry Harold, but your comment is bogus. That would hold true if you got to the seller before he signed a listing agreement, but in most cases, the seller is is listed and has a contract to pay 6% on the sale. It's that brokerages 6% that is split with the buyer's agent.
    ...Just as your comment is semantics, not fact.

    Best Buy also has a contract with the leaseholder, the employees, the electric company, workman's comp, etc. But we all know where that money comes from. IOW, who really pays that overhead.

  3. #13
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    Sep 2010
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    Default Re: Any Way to Find Out if I Am Paying Fair Market Value for a Property

    Quote Quoting Harold99
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    ...Just as your comment is semantics, not fact.

    Best Buy also has a contract with the leaseholder, the employees, the electric company, workman's comp, etc. But we all know where that money comes from. IOW, who really pays that overhead.
    Huh?

    Your argument was you could bypass the commission and deal directly with the seller. That's not true. The seller is obligated to pay the brokerage commission. It makes no difference to the buyer OR the seller if the buyer has his own broker. The money to pay the buyer's broker comes from the money the seller has already agreed to pay.

  4. #14
    Join Date
    Feb 2020
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    750

    Default Re: Any Way to Find Out if I Am Paying Fair Market Value for a Property

    Quote Quoting flyingron
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    Huh?

    Your argument was you could bypass the commission and deal directly with the seller. That's not true. The seller is obligated to pay the brokerage commission. It makes no difference to the buyer OR the seller if the buyer has his own broker. The money to pay the buyer's broker comes from the money the seller has already agreed to pay.
    That is not my argument. I object to the statement that "the seller pays the commission."

    If the seller jacked up the price $20,000 for the new pool, $40,000 for the new kitchen, and $50,000 for the two brokers and two realtors, the buyer pays for all of those costs since he is the only one bringing money to the table.

  5. #15
    Join Date
    Sep 2020
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    178

    Default Re: Any Way to Find Out if I Am Paying Fair Market Value for a Property

    Quote Quoting Harold99
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    That is not my argument. I object to the statement that "the seller pays the commission."

    If the seller jacked up the price $20,000 for the new pool, $40,000 for the new kitchen, and $50,000 for the two brokers and two realtors, the buyer pays for all of those costs since he is the only one bringing money to the table.
    No, you are misunderstanding. The OBLIGATION to pay is on the seller. Of course, the seller may pass these costs along to the buyer, but the SELLER is still the one paying them.

  6. #16
    Join Date
    Mar 2013
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    18,340

    Default Re: Any Way to Find Out if I Am Paying Fair Market Value for a Property

    What an idiotic thing to argue about.

    smh

  7. #17
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    Feb 2020
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    750

    Default Re: Any Way to Find Out if I Am Paying Fair Market Value for a Property

    Quote Quoting adjusterjack
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    What an idiotic thing to argue about.
    Idiots are those that drink and repeat realtor Kool-Aid.

  8. #18
    Join Date
    Oct 2014
    Posts
    8,238

    Default Re: Any Way to Find Out if I Am Paying Fair Market Value for a Property

    Quote Quoting Harold99
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    If the seller jacked up the price $20,000 for the new pool, $40,000 for the new kitchen, and $50,000 for the two brokers and two realtors, the buyer pays for all of those costs since he is the only one bringing money to the table.
    The point is that the real estate commission in most states is already accounted for in what the buyer will accept. Let's say the commission is 6%. If the buyer doesn't have his own agent then the buyer's agent gets the full 6%. If the buyer has his own agent, the common practice in most states is that they split the 6%, e.g. 3% each. So the house price does not change for the buyer because he brings his own agent in the deal. It doesn't bump that 6% commission up to, say, 9%. Both the buyer and seller end up paying/getting the same out of the sale whether there is just the seller's agent or whether the buyer has his own agent as well. And in the end, if the buyer thinks the price is too much for whatever reason, he or she is free to walk away and find a different home to buy.

  9. #19
    Join Date
    Feb 2020
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    750

    Default Re: Any Way to Find Out if I Am Paying Fair Market Value for a Property

    Quote Quoting Taxing Matters
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    The point is that the real estate commission in most states is already accounted for in what the buyer will accept. Let's say the commission is 6%. If the buyer doesn't have his own agent then the buyer's agent gets the full 6%. If the buyer has his own agent, the common practice in most states is that they split the 6%, e.g. 3% each. So the house price does not change for the buyer because he brings his own agent in the deal. It doesn't bump that 6% commission up to, say, 9%. Both the buyer and seller end up paying/getting the same out of the sale whether there is just the seller's agent or whether the buyer has his own agent as well. And in the end, if the buyer thinks the price is too much for whatever reason, he or she is free to walk away and find a different home to buy.
    You seem to enjoy giving half-explanations as though you were in a courtroom, huh?

    Gotta hop on my bike now, but will give the other omitted half when I get back.

  10. #20
    Join Date
    Oct 2014
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    8,238

    Default Re: Any Way to Find Out if I Am Paying Fair Market Value for a Property

    Quote Quoting Harold99
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    You seem to enjoy giving half-explanations as though you were in a courtroom, huh?

    Gotta hop on my bike now, but will give the other omitted half when I get back.
    Sure you will. And likely not disprove a single thing I've said.

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