Hi gzz, yes the buyer did. I cant say he was overly pleased with the commission rate when we reviewed terms but didnt actually disagree or cause a stink about them. But I do think its ok to go 2-2.5% depending on your zip code or local market. If you have an exceptional home that will sell itself, then I think you can push for it.
Since HomeBay uses the MLS it showed up in the MLS database and available for any licensed agent. All controlled from my dashboard. It was simply a matter of clicking “list it.”
However, if a buyer did want to buy the home or begin that process without an agent, HomeBay would have facilitated that as well. If that would have happened, the buyers commission on my end would have been less than 1%.
I close escrow on the 10th and so far, the process has been great.
Well, in my case I am selling the house and doing ALL the work, so in essence I am paying for myself, HomeBay are merely facilitating the contracts and offering guidance. I didn’t feel there was convincing enough evidence that a traditional broker or REALTOR could really do much more that I wasnt willing to do or get from HomeBay.
In a traditional brokerage sense, I think an agent is worth their money if a seller virtually does not want to be involved with the business side of things with the house. I totally get it.
In my experience a sellers broker is up front with their %s. Many times tehy have much more overhead to take into account which the seller is obliged to pay for.
But like I said earlier, everything is negotiable. Redfin recently lowered their listing fee to 1% and 3% to the buyer agent.
I think leveraging some of the rebates that Redfin offers as a buyer should be a negotiating tactic for a buyer if they are looking to hire an agent to get some cash back after the deal closes.
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