Buyer’s agent compensation

[ben_vo]

Thanks for the replies.

Once a seller (of another house), who was also a real estate agent, mentioned that if there is no exclusive agreement there is no obligation to include the agent in the transaction even if he has shown the house to you. However, I would say that in this case perhaps the agent would have a point in demanding compensation. In my case, I do not see why I would need to compensate.

[Raybyrnes]

I tend to disagree with the board here. If the agent made good faith efforts for you all along and took time to show you multiple properties, helped negotiate and simply lost the sale(could be shenanigans that excluded you no fault of your agent) then it seems like a backhanded deal to and leave him out of the final sale. You can say that he had nothing to do with it but in reality he did. If there were 20 other properties looked at and not made a move on than that helped get you closer to the one you are finally buying.

If you don’t want to compensate him on this transaction, are you willing to accept a fair hourly rate and compensate him for the time he spent on the other properties. If total hours put in to previous transaction at an hourly rate of (XXX$’s) per hour is less than the commission would be on the purchase of this home than offer that. If on the other hand this would be less than do the right ting and give him his cut.

[Raybyrnes]

I tend to disagree with the board here. If the agent made good faith efforts for you all along and took time to show you multiple properties, helped negotiate and simply lost the sale(could be shenanigans that excluded you no fault of your agent) then it seems like a backhanded deal to and leave him out of the final sale. You can say that he had nothing to do with it but in reality he did. If there were 20 other properties looked at and not made a move on than that helped get you closer to the one you are finally buying.

If you don’t want to compensate him on this transaction, are you willing to accept a fair hourly rate and compensate him for the time he spent on the other properties. If total hours put in to previous transaction at an hourly rate of (XXX$’s) per hour is less than the commission would be on the purchase of this home than offer that. If on the other hand this would be less than do the right ting and give him his cut.

[Raybyrnes]

I tend to disagree with the board here. If the agent made good faith efforts for you all along and took time to show you multiple properties, helped negotiate and simply lost the sale(could be shenanigans that excluded you no fault of your agent) then it seems like a backhanded deal to and leave him out of the final sale. You can say that he had nothing to do with it but in reality he did. If there were 20 other properties looked at and not made a move on than that helped get you closer to the one you are finally buying.

If you don’t want to compensate him on this transaction, are you willing to accept a fair hourly rate and compensate him for the time he spent on the other properties. If total hours put in to previous transaction at an hourly rate of (XXX$’s) per hour is less than the commission would be on the purchase of this home than offer that. If on the other hand this would be less than do the right ting and give him his cut.

[Raybyrnes]

I tend to disagree with the board here. If the agent made good faith efforts for you all along and took time to show you multiple properties, helped negotiate and simply lost the sale(could be shenanigans that excluded you no fault of your agent) then it seems like a backhanded deal to and leave him out of the final sale. You can say that he had nothing to do with it but in reality he did. If there were 20 other properties looked at and not made a move on than that helped get you closer to the one you are finally buying.

If you don’t want to compensate him on this transaction, are you willing to accept a fair hourly rate and compensate him for the time he spent on the other properties. If total hours put in to previous transaction at an hourly rate of (XXX$’s) per hour is less than the commission would be on the purchase of this home than offer that. If on the other hand this would be less than do the right ting and give him his cut.

[Raybyrnes]

I tend to disagree with the board here. If the agent made good faith efforts for you all along and took time to show you multiple properties, helped negotiate and simply lost the sale(could be shenanigans that excluded you no fault of your agent) then it seems like a backhanded deal to and leave him out of the final sale. You can say that he had nothing to do with it but in reality he did. If there were 20 other properties looked at and not made a move on than that helped get you closer to the one you are finally buying.

If you don’t want to compensate him on this transaction, are you willing to accept a fair hourly rate and compensate him for the time he spent on the other properties. If total hours put in to previous transaction at an hourly rate of (XXX$’s) per hour is less than the commission would be on the purchase of this home than offer that. If on the other hand this would be less than do the right ting and give him his cut.

[ben_vo]

Raybyrnes,

Thanks for the response.

Is it your opinion or normal practice or a law?

What you are describing basically means that if you happen to find a bad agent, you are stuck forever. Shouldn’t such things be agreed in advance?

What if one decides to change the agent? In your view, can you do it or you should buy out? Should one also count the time and deals the buyer loses or is it always one way in terms of the agent losing his time?

[ben_vo]

Raybyrnes,

Thanks for the response.

Is it your opinion or normal practice or a law?

What you are describing basically means that if you happen to find a bad agent, you are stuck forever. Shouldn’t such things be agreed in advance?

What if one decides to change the agent? In your view, can you do it or you should buy out? Should one also count the time and deals the buyer loses or is it always one way in terms of the agent losing his time?

[ben_vo]

Raybyrnes,

Thanks for the response.

Is it your opinion or normal practice or a law?

What you are describing basically means that if you happen to find a bad agent, you are stuck forever. Shouldn’t such things be agreed in advance?

What if one decides to change the agent? In your view, can you do it or you should buy out? Should one also count the time and deals the buyer loses or is it always one way in terms of the agent losing his time?

[ben_vo]

Raybyrnes,

Thanks for the response.

Is it your opinion or normal practice or a law?

What you are describing basically means that if you happen to find a bad agent, you are stuck forever. Shouldn’t such things be agreed in advance?

What if one decides to change the agent? In your view, can you do it or you should buy out? Should one also count the time and deals the buyer loses or is it always one way in terms of the agent losing his time?

[ben_vo]

Raybyrnes,

Thanks for the response.

Is it your opinion or normal practice or a law?

What you are describing basically means that if you happen to find a bad agent, you are stuck forever. Shouldn’t such things be agreed in advance?

What if one decides to change the agent? In your view, can you do it or you should buy out? Should one also count the time and deals the buyer loses or is it always one way in terms of the agent losing his time?

[DataAgent]

Raybyrnes… I agree with you. If it were me, I’d give the guy a few bucks for his time. Something like $500-$1000 depending on time spent and knowledge gained. With the mutual understanding that “we’re square” or “we’re even.”

[DataAgent]

Raybyrnes… I agree with you. If it were me, I’d give the guy a few bucks for his time. Something like $500-$1000 depending on time spent and knowledge gained. With the mutual understanding that “we’re square” or “we’re even.”

[DataAgent]

Raybyrnes… I agree with you. If it were me, I’d give the guy a few bucks for his time. Something like $500-$1000 depending on time spent and knowledge gained. With the mutual understanding that “we’re square” or “we’re even.”

[DataAgent]

Raybyrnes… I agree with you. If it were me, I’d give the guy a few bucks for his time. Something like $500-$1000 depending on time spent and knowledge gained. With the mutual understanding that “we’re square” or “we’re even.”

[Author]

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