Can i buy home for less if no real estate buying agent involved?

looking at a home without a buying agent. does the seller give the listing agent ALL the commission or can a deal be done to give the listing agent only their 1/2 of the commission? although the seller pays this if the commission is less than there is more room to negotiate the total selling price down with the seller. (i know the seller and the listing agent!)


thanks for any adviceCan i buy home for less if no real estate buying agent involved?
Sadly, your focus is all wrong. Yes, bottom line to both principles is important but let's stay focused on the bigger picture. Allowing the listing agent to assist you is a mistake regardless of how well you know him or her. The Seller's agent is already under contract to represent the Seller. That agent has a fiduciary responsibility to that Seller and to that Principle only.





Any good Buyer's Agent will be pulling comparables (comps) for you BEFORE presenting an offer. Trust me, the comps pulled from the Seller's agent will be for the purpose of defending the Seller's asking price. The Buyer's Agent will be pulling property's that best represent what the market shows that the subject property SHOULD sell for. That is what you NEED to know before entering into a transaction if for no other reason than to know it will appraise at what you're offering. This point of the process alone can save you time and money.





A good Buyer's Agent will also assist you throughout the process collaborating with the lender, inspectors, title company as well as acting as your liason with the other principles' agent. There are deadlines to be met throughout the process as noted in the contract to which a good Buyer's Agent will be the one to keep you on track, because meeting those deadlines is critical from the point of contract execution forward.





You've got a life to live. Working through a transaction from the point of sale to closing is very time consuming not to mention stressful. Better to leave it to a professional whose expertise can far out-weigh whatever monies you're trying to save...IF you save anything.





Business is business and just because you 'know' both seller and listing agent, where principles are involved, selling and buying a home is very emotional. If you're friends now with either of these people, or to save yourself from possibly making future enemies, keep it that way by hiring a professional.





';He who represents himself has a fool for a client.'; -AnonCan i buy home for less if no real estate buying agent involved?
It won't matter wether you have a buyers agent or not. If the seller has a listing agency agreement they must pay the agent if their house sells. If you also have an agent, then part of the listing agents commission is payed to the buyers agent. You don't even need to think about the commission being payed to the sellers agent. He/she worked hard for that commission and payed for the advertising and marketing. Just make an offer, negotiate a price, and leave the agents commission out of the equation.





Edit: In some states, like Kansas, dual agency is illegal. That is where the agent has both a listing agency agreement and buyers agency agreement within the same transaction. You might want to check on that in your state.
a; when listed, a home ';comes'; with a negotiated commission between the


seller and the listing broker's office.





b; while it is culturally normal, no listing


agent is AUTOMATICALLY obligated


to give part of any commission to any


buyer's agent; it is done as a courtesy


and is often put in the MLS.





c. NO ONE ever needs to hire


a buyer's agent..........and few ever


skip the agent AND SKIP PROBLEMS.





Agents earn their keep.





follow-ups, and solving problems before


the buyers discover them.





Lastly; excluding 2-3 yrs ago, when


in some geographical areas,


sellers could get more than they listed


as a selling price, AT ALL TIMES


a listed price is a negotiable number.





all contracts, till they are signed by


both parties, are negotiable in all their


components/parts.





LUCK to you
This depends on the terms of the listing contract, but most agents with half a brain structure the contract to say that they will get the entire commission if there鈥檚 no buyer鈥檚 agent. That鈥檚 why it鈥檚 silly not to have one. You鈥檙e literally throwing away free representation. You may be able to get the agent to agree to a lesser comission, but it's not guaranteed.





It should be noted though, that you鈥檙e not all that likely to save money by buying a home with no agents involved. Usually sellers who don鈥檛 want professional help are trying to get as much money into their own pockets as possible so they aren鈥檛 looking to give that commission money to you as a discount.
Going to the seller agent and having her represent you is the best way. There's usually a set amount, % of sale, that both agents have to split and if she knows she doesn't have to share, she may be able to give you a bit off the top. But, since her payday is based on the total she nets for the seller she is in a conflict of interests. So, you may save a few k off the fees, but pay 10k more for the house, if she doesn't advise you well. Not a lot of savings when you factor in a 30 year mortgage. The house market is weak, better off just giving a lower offer.
You might negotiate with the listing agent to represent you as well. That negotiation would include setting the fee.





Or, you could negotiate with a buying agent to set a low fee, since you did the expensive part of finding the home.





Or, you could hire a lawyer to review or prepare documents as needed, to represent your interests.





Just how much are you trying to save? Come up with that number, then subtract it from your offer.